New Mexico financial regulators learned their lesson the hard way after discovering in early 2017 that millions of dollars had been embezzled from clients at the small nonprofit Desert State Life Management. The state Financial Institutions Division of the state’s Regulation and Licensing Department headed to the Roundhouse in Santa Fe this year to seek new laws to help prevent another such criminal scheme, which went undetected for years. “Unfortunately, it was a reactive response. But [- more...]