Regulatory Alerts2023-05-12
Added · Updated
Bulletin 3090 - May 12, 2023
The Connecticut Department of Banking entered into Consent Orders with Tower DBW VI Trust 2016-1 and Tower DB IX Trust 2019-1 for acting as unlicensed consumer collection agencies, requiring a $10,000 civil penalty and $800 in back licensing fees. Additionally, a Consent Order was issued against Terrascheduler LLC and Richard Craig Hamar for selling an unregistered security, imposing a $1,750 fine and mandating investor repayment by July 8, 2023, with a $10,000 penalty and restitution order triggered by non-compliance.
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