Regulatory Alerts2010-03-31
Added · Updated
Spring 2010 Securities Bulletin
The Connecticut Department of Banking imposes fines and enforcement actions against various entities for securities violations, including $45,000 and $15,000 fines against Cuppy’s Coffee & More, Inc. and Elite Manufacturing, LLC for selling unregistered business opportunities. The Commissioner also fined Derek M. Lofton $100,000 and Carlos E. Conde $85,000 for selling unregistered securities and fraud, while fining Daniel Charles Allegrini $200,000 for unregistered advisory activity and promissory note sales. Consent orders require Woodstock Financial Group, Inc. to reimburse customers and pay a $15,000 fine for inflated fees, Raymond James Financial Services, Inc. to pay $15,000 for supervisory lapses, and Mercer Capital Ltd. to pay $5,000 for employing unregistered agents and selling unregistered securities.
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