Regulatory Alerts2012-10-12
Added · Updated
Bulletin 2538 - October 12, 2012
The Connecticut Department of Banking imposed enforcement actions against multiple entities for licensing violations and securities fraud. National Credit Solutions, L.L.C. and US National Legal Solutions received temporary cease and desist orders for failing to maintain surety bonds and operating without required licenses, respectively. Cornerstone Capital Group agreed to a consent order requiring a $5,000 civil penalty for employing an unlicensed mortgage loan originator. D & K Holdings, SKD Holdings, and The Arize Group were ordered to cease debt negotiation activities, repay fees to Connecticut residents, and pay $100,000 civil penalties each for unlicensed operations and excessive fees. Sky Watch Media and its president Marie Meredith Duquesne face cease and desist orders, restitution requirements, and potential fines for selling unregistered stock and violating antifraud provisions.