Regulatory Alerts2020-11-02
Added · Updated
Connecticut Launches Online Filing Option for Private Placements Effective November 2, 2020
The Banking Commissioner designates the NASAA Electronic Filing Depository as an optional platform for securities registration, exemption, and notice filings under the Connecticut Uniform Securities Act, with immediate effect for Rule 506 private placements starting November 2, 2020. This order eliminates the previous requirement for issuers to file a separate Broker-Dealer/Sales Agent Questionnaire when using the EFD system, while continuing to accept paper filings. The bulletin also details enforcement actions, including consent orders and stipulations that impose fines ranging from $5,000 to $150,000 on entities such as The Hansbury Group, LLC, Janney Montgomery Scott, LLC, and Edward Kenneth Crowe for violations of registration and supervisory requirements.