Regulatory Alerts2023-09-30
Added · Updated
Connecticut Department of Banking Securities Bulletin Fall 2023
The Connecticut Department of Banking issued enforcement actions against Burns Capital Investments LLC and Thomas Zachary Burns for offering unregistered cryptocurrency interests and engaging in fraud, resulting in cease and desist orders and restitution requirements. Blackstone Wealth Solutions LLC, Paul Brian Kopman, and Matthew Craig Hults were ordered to pay $100,000 fines each for misappropriating over $300,000 from an elderly investor and failing to register as investment advisers. Robinhood Financial LLC agreed to a $200,000 consent order to settle allegations regarding inadequate supervisory systems, platform outages, and failures in options and margin trading oversight. Additionally, the department denied broker-dealer registration to NYPPEX, LLC and Laurence Geoffrey Allen due to prior disciplinary events, and issued notices of intent to fine and stop orders against Vend Tech International, Inc. for selling unregistered business opportunities and making misleading disclosures.