KIA&B November/December 2020 | Page 27

SECURITIES & INSURANCE ? A CONSOLIDATION THAT MADE SENSE

By : Commissioner Vicki Schmidt
One hundred and ten years ago , Kansas became the first state in the union to pass laws protecting consumers and their investments . The investment world looks different than it did back then , and the Office of the Securities Commissioner looks different than it did back then . Still , our commitment to protecting Kansans remains steadfast .
I am sure you are familiar with this . Still , as a quick reminder , in 2017 , the Legislature moved the Office of the Securities Commissioner under the Kansas Insurance Commissioner ’ s jurisdiction . As a senator , I ’ ll be honest when it was first proposed , I didn ’ t vote for it , as I thought it made more sense under the jurisdiction of the Office of the Attorney General . In the end , I supported the legislation , and I am here to tell you the Office of the Securities Commissioner is right where it should be at the Kansas Insurance Department .
Nationally , more states are moving to combine their insurance and securities divisions . Like Kansas , others find the similarities between the industries and the wisdom in coordination and cooperation between staff . As agents in the field , I am sure you see this trend as more consumers look for a holistic approach to financial planning . This fall , the Department launched an investor education campaign to help educate Kansans about smart ways to invest and , most important , things to avoid before investing
money . Please visit smartinvestks . com to learn more about this effort .
It is an honor to serve you and your family as Insurance Commissioner . Thank you for your continued work for Kansas consumers .
Kansas Insurance Commissioner Vicki Schmidt is both a lifelong Kansan and Republican . She worked for more than 40 years serving Kansas families and seniors as a local pharmacist . It was her pharmacy experience and commitment to bettering Kansas that drew her to run for the Legislature . Vicki became the voice for reform . She represented Shawnee and Wabaunsee counties for 14 years , including six as the Chair of the Senate Public Health and Welfare Committee . On Nov . 6 , 2018 , Vicki was elected as Kansas Insurance Commissioner . She became the first pharmacist to serve as Kansas Insurance Commissioner and is the only pharmacist in America to hold a statewide office .
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