Regulatory Alerts2022-09-30
Added · Updated
State of Connecticut Department of Banking Securities Bulletin Fall 2022
The Connecticut Department of Banking’s Securities and Business Investments Division finalized enforcement actions against multiple entities and individuals for violations of the Connecticut Uniform Securities Act, including selling unregistered securities and committing fraud. Specific penalties include a permanent cease and desist order, $500,000 in restitution, and $500,000 in fines against Endeavor Global Partners Corp. and David Manning Fresne, and a ten-year bar from the securities business for James Albert Pettit. Additional consent orders and stipulations imposed fines ranging from $5,000 to $10,000 on Olive Tree Ridge Investment Advisors LLC, Perkins Fund Marketing L.L.C., and Aldwych Securities LLC, while requiring legal counsel retention for Pusser’s Holdings Investment LLC and its principals.