Communications

Insurance Commissioner Jon Godfread issued a stop order to Shayan Mashatian and his companies, Silverberry Group, LLC and WoundScribe AI Corp.

These companies were soliciting investments without properly registering their company in accordance with North Dakota Century Code. The North Dakota Insurance and Securities Department issued the order to protect investors.

Commissioner Jon Godfread addressed insurance affordability during his opening remarks at today’s North Dakota Residential Resiliency Roundtable at the Bismarck Event Center.

The North Dakota Insurance & Securities Department actively monitors financial organizations to help protect North Dakotans from unfair or unreasonable actions. So far this year, the Department has secured $140,000 from settlements as part of multi-state enforcement actions.

Insurance Commissioner Jon Godfread has appointed Matt Clark as North Dakota’s State Fire Marshal. Clark, who most recently served nearly five years as fire chief of the Williston Fire Department, brings 21 years of fire service experience along with extensive leadership, public safety, and legislative collaboration expertise. In his new role, Clark will oversee fire prevention, investigations, inspections, and public education efforts statewide, working with local, state, and elected partners to strengthen fire safety and community resilience across North Dakota.

The North Dakota Insurance & Securities Department has announced a regulatory update aimed at strengthening protections for investors as more residents participate in private funds and alternative investments. The update aligns North Dakota’s securities oversight with nationally recognized standards by adopting the NASAA Model Rule for Investment Advisers to Private Funds and rescinding a prior state-specific approach. This change reduces regulatory complexity while improving transparency, fraud prevention, and consistency with federal and multi-state frameworks. The Order enhances safeguards for higher-risk investments by limiting participation to financially sophisticated investors and requiring disclosures and audited financial statements. Officials say the update modernizes oversight without limiting legitimate investment activity and takes effect immediately.