Regulatory Alerts2017-12-15
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Bulletin 2808 - December 15, 2017
The Connecticut Department of Banking imposed a $10,000 joint and several fine on Senior Financial Advisors, Inc. and its president, William Thomas Leavitt, for regulatory violations including failure to update Form ADV regarding client custody and conducting business under an unregistered name. The Consent Order also cited Leavitt for transacting business as an unregistered investment adviser agent between January 1, 2016, and January 4, 2017. The firm is required to cease and desist from these violations and must review and revise its written supervisory procedures within six months to ensure compliance with custody and other regulatory requirements.
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