Regulatory Alerts2019-09-06
Added · Updated
Bulletin 2898 - September 6, 2019
The Connecticut Department of Banking resolved enforcement actions against Archview Investment Group LP and Bridgeways, Inc. through Stipulations and Agreements requiring the payment of penalties and fines. Archview Investment Group LP agreed to pay $2,625, comprising a $2,000 administrative penalty and $625 in reimbursement fees, for failing to file required investment advisory notices between 2015 and 2018. Bridgeways, Inc. agreed to pay a $3,000 fine for offering or selling unregistered securities in Connecticut in 2013.
State of Connecticut Department of Banking
The Department of Banking News Bulletin
Bulletin # 2898 - Week Ending September 6, 2019
This bulletin constitutes the only official notification you will receive from this office concerning any of the following applications. Any observations you may have are solicited. Any comments should be in writing to Jorge L. Perez, Banking Commissioner, Department of Banking, 260 Constitution Plaza, Hartford, CT 06103-1800. Written comments will be considered only if they are received within ten business days from the date of this bulletin.
SECURITIES AND BUSINESS INVESTMENTS DIVISION ACTIVITY
Archview Investment Group LP (IARD No. 154787)
On September 5, 2019, the Banking Commissioner entered into a Stipulation and Agreement (No. ST-19-8471-S) with Archview Investment Group LP , an investment adviser located at 687 Smith Ridge Road, New Canaan, Connecticut. The firm's business focuses on rendering investment advisory services to affiliated pooled investment vehicles. Archview Investment Group LP is currently registered as an investment adviser with the Securities and Exchange Commission.
The Stipulation and Agreement alleged that from 2015 until October 15, 2018 when a notice was filed, the firm failed to make the investment advisory notice filing required of SEC-registered firms by Section 36b-6(e) of the Connecticut Uniform Securities Act.
In resolution of the matter, Archview Investment Group LP, its affiliates and successors in interest agreed to refrain from engaging in violative conduct and to pay $2,625 to the department. Of that amount, $2,000 constituted an administrative penalty and $625 represented reimbursement for past due investment advisory notice filing fees.
Bridgeways, Inc. f/k/a Xandros, Inc.
On September 5, 2019, the Banking Commissioner entered into a Stipulation and Agreement (No. St-19-8407-S) with Bridgeways, Inc. f/k/a Xandros, Inc. , now or formerly of 900 Chapel Street, New Haven, Connecticut. The Stipulation and Agreement alleged that, in 2013, Bridgeways, Inc. offered and/or sold securities in or from Connecticut to at least one investor at a time when those securities were not registered under the Connecticut Uniform Securities Act. In resolution of the matter, Bridgeways, Inc., its affiliates and successors in interest agreed to refrain from offering or selling securities absent compliance with Connecticut's securities laws and to pay a $3,000 fine to the agency.
Dated: Tuesday, September 10, 2019
Jorge L. Perez Banking Commissioner