Regulatory Alerts2015-12-31
Added · Updated
Fall and Winter 2015 Securities Bulletin
The Connecticut Department of Banking imposed fines totaling $409,440 and issued cease and desist orders against multiple broker-dealers, agents, and investment advisers for violations including unregistered securities sales, antifraud provisions, and inadequate supervisory systems. Specific penalties include a $300,000 fine for James E. Neilsen, a $35,000 fine for Citigroup Global Markets, and a $25,000 fine for Essex Financial Services, while Martinez-Ayme Financial Group faced a notice of intent to revoke its registration. Consent orders required entities such as Cooper Capital, Inc., Rafferty Capital Markets, LLC, and Overtime Marketing, LLC to pay administrative fines, reimburse registration fees, and permanently or temporarily bar individuals from transacting business in Connecticut.