Regulatory Alerts2014-06-13
Added · Updated
Bulletin 2625 - June 13, 2014
The Connecticut Department of Banking fined Morgan Stanley Smith Barney LLC $5 million and imposed supervisory requirements for failing to maintain adequate e-mail surveillance systems and records. An amendment to a prior cease and desist order added charges against Gregory Richard Imbruce and several investment partnerships for offering unregistered securities and making misleading statements. The Commissioner also issued cease and desist orders against Poppin Kettle Franchising, Inc. and Yofresh Yogurts Franchising, Inc. for selling unregistered franchises without required disclosures. Additionally, Consumer Law Associates, LLC was ordered to pay $550,000 in penalties and restitution for illegal debt negotiation activities, while other entities faced notices for mortgage licensing violations and license suspensions.