Regulatory Alerts2004-01-23
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News Bulletin 2083 - January 23, 2004
The Connecticut Department of Banking imposes a $20,000 fine on Telecom Entertainment for selling unregistered limited partnership interests and violating antifraud provisions. The Department also finalizes a permanent cease-and-desist order against Mark M. Eisenberg, requiring a $5,000 payment for obstructing examiners, and accepts a $2,500 fine from Wachovia Securities for employing unregistered agents. Additionally, Ameriquest and its subsidiaries agree to refund over $603,000 to affected consumers and pay a $5,000 civil penalty for charging excessive prepaid finance charges on mortgage loans.
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