Regulatory Alerts2008-10-17
Added · Updated
News Bulletin 2330 - October 17, 2008
The Connecticut Department of Banking approved Newtown Savings Bank's application to open a branch at 477 Main Street in Newtown, CT. The Commissioner imposed a $30,000 fine on Java’s Brewin Development, Inc. for selling unregistered coffee shop business opportunities in violation of the Connecticut Business Opportunity Investment Act. Additionally, 4 L.I.F.E., Inc. and Terry Mayfield were each fined $150,000 for selling unregistered securities and violating antifraud provisions of the Connecticut Uniform Securities Act. A consent order conditioned Andrew Prophet’s registration as a broker-dealer and investment adviser agent, restricting his activities for two years and prohibiting him from holding client funds or exercising discretionary trading authority.