Regulatory Alerts2020-06-26
Added · Updated
Bulletin 2940 - June 26, 2020
The Connecticut Department of Banking entered a Consent Order with Merrill Lynch, Pierce, Fenner & Smith Incorporated, requiring the firm to pay a $150,000 fine and remit $250,000 for investor education and staff training within thirty days for supervisory failures and inaccurate records. The Department also finalized a Stipulation and Agreement with Monica Hoyos-Farfan, imposing a $500 fine for acting as an unregistered investment adviser agent. Additionally, the Commissioner issued Orders to Cease and Desist against Solace Investments, LLC and Rafael Alves Muzzi for alleged fraud and selling unregistered securities, while initiating revocation proceedings against Erin Lynn Verespy for her prior unregistered activities.
Topics
Share