Regulatory Alerts2025-03-28
Added · Updated
Bulletin 3188 - March 28, 2025
The Connecticut Department of Banking entered a Consent Order with The Vanguard Group, Inc. and Vanguard Marketing Corporation, requiring $92.91 million in remediation and a $13.5 million administrative penalty for supervisory lapses and disclosure deficiencies regarding Target Retirement Funds. The Department also resolved matters with ACK Asset Management LLC and CFP Fund 1, LLC through Stipulations and Agreements, imposing fines of $2,950 and $2,500 respectively for failure to make required investment advisory notice filings. Additionally, an Order to Cease and Desist and Notice of Intent to Fine were issued against Valuex Research LLC, Valuex Fintech LLC, and two individuals for selling unregistered securities and violating antifraud provisions.