Regulatory Alerts2012-03-31
Added · Updated
Spring 2012 Securities Bulletin
The Connecticut Department of Banking imposed fines and enforcement orders against multiple entities and individuals for selling unregistered securities and violating antifraud provisions. Point Stratford Development, LLC and its managing member Hector Natera were each fined $100,000, while Yvette Cuccaro was fined $10,000 for their roles in the Hollywood East securities scheme. Movies for a Better World, LLC and its president Michael J. Martineau were fined $50,000 each and ordered to make restitution to investors. Southridge Investment Group LLC had its broker-dealer registration revoked and was fined $250,000 for supervisory failures and selling unregistered securities. Wadsworth Investment Co., Inc. and William F. Wadsworth, Sr. faced registration revocations and fines totaling $450,000 for record-keeping violations and unethical practices. Consent orders also resulted in a $2,500 fine for Tatyana Andreyeva and a seven-year bar with a $7,500 fine for Michael H. Clinton.
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