As of March 6, the DFPI has confirmed mortgage lender and servicer support from more than 420 financial institutions.

We continue to update our LA Fires Resources Webpage, which includes help for residents, fraud and scam protection, and student loan assistance.

On March 7, we posted a video from our Commissioner, KC Mohseni, in which he explains our relief efforts and thanks the financial institutions that have provided support.

Annual Financial Report Filing is due March 31

Investment Advisers subject to the minimum financial requirements under California Code of Regulations, Title 10, Section 260.237.2, are required to file annual financial reports with the Department within 90 days of the firm’s fiscal year-end. If your fiscal year ended on December 31, 2024, your annual report is due March 31, 2025. More.

Form ADV Annual Updating Amendment is due March 31

Investment Advisers whose fiscal year ends on December 31 are required to file the Form ADV annual updating amendment by March 31, 2025.

The annual updating amendment of Form ADV, Part 1 and Part 2 must be filed through IARD within 90 days of the firm’s fiscal year-end. When filing, investment advisers may use the “Confirm” brochure option in IARD if there are no material changes, to acknowledge the existing brochure is current without uploading a new PDF version. Please refer to Form ADV Part 1 Instructions and Form ADV Part 2 Instructions for more information. More.

BDIA Online Examination Commences March 31, 2025

The Broker-Dealer / Investment Adviser Division is continuing an annual online examination for certain registered Investment Advisers, in accordance with DFPI’s authority under California Corporations Code Section 25241, subdivision (c). This mandatory examination consists of an online examination for Investment Advisers registered with the DFPI, who have their principal place of business in another state.

The online examination for this year is scheduled to commence on March 31, 2025. If selected, the advisory firm will be notified on March 31, 2025, and required to complete and submit the online examination by May 16, 2025. More.

Some Escrow Annual Reports Due Mar. 17

Escrow agents are required to submit to the Commissioner an annual report prepared by an independent certified public accountant (Financial Code section 17406) within 105 days after the close of the escrow agent’s fiscal year. The annual report includes audited financial statements and required supplemental information.

If your fiscal year ended on Nov. 30, 2024, your annual report is due Mar. 17, 2025. Please have your CPA email your report to ESCAnnualReportFiling@dfpi.ca.gov by the deadline using a secured, encrypted delivery system. More.

Escrow Advisory Committee Openings

There are two openings on the Escrow Advisory Committee as follows:

• a representative for small-sized escrow companies.
• a CPA who has escrow agent clients.

The Committee is established in Financial Code Section 17214. The Committee’s purpose, as provided in statute, is to assist the Commissioner in the implementation of the Commissioner’s duties under the Escrow Law. The deadline for submission is March 31, 2025. More.

Escrow Bulletin on Social Engineering Scams

The DFPI has issued the following Escrow Bulletin regarding Social Engineering Scams targeting Licensed Escrow Companies (https://dfpi.ca.gov/wp-content/uploads/2025/02/EscrowBulletin0225.pdf). Questions regarding this bulletin should be directed to Paul.Liang@dfpi.ca.gov.

Annual reports for 2024 for DFPI Finance Lenders (CFL), Payday Lenders (CDDTL), Student Loan Servicers (SLSA), and Debt Collectors (DCLA) are due by March 15, 2025. More.

Regulation update

On March 4, 2025, the Office of Administrative Law approved proposed regulations regarding the Debt Collection Licensing Act. The regulations specify annual report requirements and define terms necessary to calculate licensees’ annual pro-rata assessments. The regulations will become effective on July 1, 2025. More.

On March 10, DFPI announced that through our new partnership with the California Department of Justice (DOJ), we have shut down 26 crypto scam websites and uncovered $4.6 million in consumer losses.

Seven new scam types have been identified in our Crypto Scam Tracker, based on more than 2,668 complaints submitted by consumers in California and across the US last year. More.

The DFPI has received information that the website mainspringcapitalltd.com is fraudulently marketing itself as a licensed investment adviser.

The imposter website is posing as Mainspring Capital Management LLC, which is a California licensed Investment Adviser (CRD number 168756). More.

The DFPI has relocated our Sacramento offices as of March 10, 2025, to the new May Lee State Office Complex. Please save the following address to your records:

   Department of Financial Protection and Innovation
   May Lee State Office Complex
   651 Bannon Street, Suite 300
   Sacramento, CA 95811

To ensure mail is properly delivered to the Department, please use the new address.

Statement from Conference of State Bank Supervisors (CSBS) President and CEO Brandon Milhorn on Reports of Federal Banking Agency Consolidation

“Many of the proposals for federal regulatory consolidation being discussed in the media have been debated — and rejected — in the past. We encourage the Administration and Congress to avoid drastic restructuring of the federal banking agencies and instead focus on real and meaningful supervisory reforms that would energize our nation’s community banks and support consumers and small businesses. More.

Federal Reserve Board Begins 2025 Survey of Consumer Finances

The Federal Reserve Board in March will begin its regular study of household finances, the Survey of Consumer Finances, which provides the public and policymakers with detailed and important insights into the economic condition of American families. More.

Filer Transition to New and Improved EDGAR Begins March 24

The Securities and Exchange Commission is providing extensive guidance and resources to assist filers with upcoming access and account management enhancements to the security of the agency’s Electronic Data Gathering, Analysis, and Retrieval (EDGAR) system. On March 24, a new EDGAR Filer Management dashboard will go live on the SEC’s website, and filers can begin enrolling in “EDGAR Next” by submitting an amended Form ID, which is the application that individuals or companies complete to obtain EDGAR access credentials. More.

Each month we educate consumers through community events and a monthly webinar.

Building Wealth Through Financial Literacy 

April 9, 12 – 1 p.m. | Virtual 

In today’s complex financial world, it’s more important than ever to understand and be fluent in the terms, rules, and concepts of money. Learn how financial literacy can help you make informed decisions and build lasting wealth. Register online. 

DFPI's Financial Literacy Month Resource Webinar

April 23, 12 – 1 p.m. | Virtual 

Follow the Path to Financial Well-being! Register for and join the DFPI’s Financial Literacy Resource Webinar. This year, we are looking into consumer spending behavior. Our webinar’s discussion panel includes industry experts who will share how to better understand what factors influence your financial habits and how they affect your relationship with spending. We will also learn about important California programs that can help pave the way for consumers. Register online.