An act relating to banking, insurance, and securities

This bill updates Vermont's financial regulations to strengthen oversight of insurance holding companies and improve enforcement capabilities for the state's financial services commissioner. It establishes a special fund to finance financial education programs, provide restitution to victims of financial fraud, and award payments to whistleblowers who report violations. The legislation also clarifies definitions for insurance holding company systems and international groups, while updating notice requirements to mandate certified mail for certain communications. Additionally, it increases the maximum civil penalty for violations to $15,000 per incident and allows for higher penalties in cases involving vulnerable adults.