Regulatory Alerts2023-03-31
Added · Updated
Spring 2023 Securities Bulletin
The Connecticut Department of Banking entered consent orders and stipulations against Nexo Capital Inc., Kara Leigh Gagnon, J.A.G. Capital LLC, Joseph Richard Bozzi, Laidlaw & Company (UK) Ltd., and Parker Street Securities LLC for violations of the Connecticut Uniform Securities Act. Nexo Capital Inc. was fined $424,528.30 for selling unregistered securities through its Earn Interest Product accounts. Kara Leigh Gagnon was barred from transacting business in Connecticut for engaging in dishonest practices and failing to disclose outside business activities, with a $10,000 fine stayed due to inability to pay. J.A.G. Capital LLC and Joseph Richard Bozzi were barred from the industry for ten years and ordered to pay $7,500 in restitution, with a $20,000 fine stayed. Laidlaw & Company (UK) Ltd. was fined $200,000, required to retain an independent consultant, and restricted from exercising discretionary trading authority or selling private placements to non-accredited investors for two years. Parker Street Securities LLC paid a $5,000 fine and $340 in registration fees for transacting business as an unregistered broker-dealer.