Regulatory Alerts2018-09-30
Added · Updated
Fall 2018 Securities Bulletin
The Connecticut Department of Banking imposed fines ranging from $2,500 to $400,000 and issued cease and desist orders against multiple individuals and entities for violations including selling unregistered securities, fraud, and unregistered investment advisory activity. Specific penalties include $100,000 fines for Leland Energy, Inc., Stephen M. Thompson, Endeavor Management Solutions, LLC, James Ward Doyle, and Christopher Sakelarakis, and a $400,000 total fine for Leland Energy, Inc., Leland Tennessee Holdings, Inc., Opportunity Drilling & Acquisition Fund, LLP, and Stephen M. Thompson. The bulletin also records the revocation of Wilbanks Securities, Inc.'s broker-dealer registration, a seven-year bar for John A. Pinheiro and Walter John Dubiel, and consent orders requiring restitution or fines for supervisory failures and recordkeeping violations.