Regulatory Alerts2012-06-30
Added · Updated
Summer 2012 Securities Bulletin
The Connecticut Department of Banking issued administrative orders and consent resolutions against multiple entities for securities violations, including unregistered sales, antifraud breaches, and recordkeeping failures. Specific penalties included a $970,469.30 fine for Bankers Life and Casualty Company, a $40,000 fine for Prosper Marketplace, Inc., and a $25,000 fine for Stephen P. Pazdar, alongside cease and desist orders and restitution requirements for other respondents. The bulletin also details the modification of remedial restrictions for Wadsworth Investment Co., Inc., requiring a $52,000 refund and reducing its fine to $25,000, while imposing bars and fines on individuals and firms for regulatory non-compliance.
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