Regulatory Alerts2013-07-19
Added · Updated
Bulletin 2578 - July 19, 2013
The Connecticut Department of Banking imposed aggregate fines totaling $210,000 on Accelerated Mentoring LLC and its representatives for violating the Business Opportunity Investment Act through unregistered offerings and unsubstantiated earnings claims. A stipulated agreement conditioned the broker-dealer registration of MDS Securities, LLC, restricting its Connecticut activities to transactions with other registered broker-dealers and imposing investor suitability requirements for two years. The department also entered a consent order requiring Fidelity Capital to pay a $2,500 civil penalty for failing to file required annual information, while issuing notices of intent to refuse license renewal or impose penalties against several mortgage entities for licensing and reporting violations.