Regulatory Alerts2024-01-05
Added · Updated
Bulletin 3124 - January 5, 2024
The Connecticut Department of Banking resolved a violation by MUFG Bank, Ltd., which conducted licensable activity at its Danbury representative office after its license lapsed, by approving a new license and imposing a $10,000 fine. The Department also issued an order conditioning the investment adviser registration of Layered Financial LLC due to unmet experience requirements, restricting the firm for three years from holding client assets, exercising discretionary trading, or charging performance-based compensation. Additionally, Layered Financial LLC must limit its activities to securities listed on national exchanges and retain a regulatory consultant within six months.
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