Regulatory Alerts2009-08-21
Added · Updated
News Bulletin 2374 - August 21, 2009
The Connecticut Department of Banking entered a Consent Order with Silver Oak Securities, Inc., requiring the firm to cease violations related to unregistered branch offices, implement revised compliance procedures, and pay a $5,000 fine. The Department issued an Order to Cease and Desist and a Notice of Intent to Fine against Daniel Charles Allegrini for acting as an unregistered investment adviser, selling unregistered promissory notes, and failing to disclose risks, with a hearing scheduled for September 24, 2009. Additionally, a Stipulation and Agreement was executed with Maxim Group LLC, mandating compliance with agent registration requirements, supervisory procedure revisions, and a $4,700 payment covering fines, registration fees, and investigative costs.