Regulatory Alerts2018-05-18
Added · Updated
Bulletin 2830 - May 18, 2018
The Connecticut Department of Banking entered into a Stipulation and Agreement with Blaine Capital, LLC, requiring a $5,000 fine for providing unregistered advisory services, following the firm's refund of $7,750.48 in fees. An Order to Cease and Desist and Notice of Intent to Fine was issued against Thomas Michael Bakitas and DRBS Algorithm, LLC for operating an unregistered investment advisory business charging annual fees of $1,188 and $3,500. Additionally, a Consent Order was entered against Troy Rejda, imposing a $5,500 fine and requiring cessation of violations related to the sale of unregistered securities and fraud, after he repaid $19,000 to an affected investor.
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