Regulatory Alerts2025-05-29
Consent Agreement and Order Regarding Steven Toto
The Pennsylvania Department of Banking and Securities issued a Consent Agreement and Order against Steven Toto for violating the Pennsylvania Securities Act by failing to maintain required business continuity and succession plan procedures. The order mandates that Toto pay a $35,000 administrative assessment in four equal installments over two years and comply with state securities regulations. Although the order waives his right to a hearing on the penalties, it provides a 30-day window to appeal the Final Order to the Commonwealth Court of Pennsylvania.
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