Regulatory Alerts2016-10-21
Added · Updated
Bulletin 2748 - October 21, 2016
The Connecticut Department of Banking entered into a Consent Order with Lightning Mortgage Inc., requiring the payment of a $4,500 civil penalty for failing to timely file annual mortgage call reports. The Commissioner issued an Order to Cease and Desist and Notice of Intent to Fine against Robert Lawrence Gray for acting as an unregistered investment adviser and engaging in securities fraud that resulted in approximately $200,000 in investor losses. Additionally, Cantone Research Inc. and its agent Victor Polakoff received an Order to Cease and Desist, an Order to Make Restitution, and Notices of Intent to Fine and suspend or revoke registrations for aiding Gray's unregistered activities and violating securities laws.
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