Regulatory Alerts2018-09-14
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Bulletin 2847 - September 14, 2018
The Connecticut Department of Banking imposed a $2,500 fine on Thomas Michael Bakitas and DRBS Algorithm, LLC via a Consent Order for conducting unregistered investment advisory activities. Separately, the agency issued an Order to Cease and Desist, an Order to Make Restitution, and a Notice of Intent to Fine against John Mark Downing for unregistered advisory activities and fraud involving $23,400 in trading losses. Written comments regarding these enforcement actions must be submitted to Banking Commissioner Jorge L. Perez within ten business days of the bulletin's date.
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