Regulatory Alerts2025-02-14
Added · Updated
Consent Order Regarding Plutus Financial Holdings Inc. and Related Entities
Plutus Financial Holdings Inc., Plutus Financial Inc., Plutus Lending LLC, Abra Boost LLC, and William Barhydt are ordered to pay a $100,000 administrative fine for offering unregistered securities through Abra Earn and Abra Boost products in Connecticut. The fine is suspended provided the respondents return all outstanding client assets valued at $10 or more to Connecticut residents. Additionally, William Barhydt must appoint a Chief Compliance Officer for any future securities-related entities he controls, with these requirements expiring on October 1, 2025, or two years after the order's entry.
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