Regulatory Alerts2014-06-30
Added · Updated
Summer 2014 Securities Bulletin
The Connecticut Department of Banking issued Orders to Cease and Desist and Notices of Intent to Fine against Poppin Kettle Franchising, Inc., Yofresh Yogurts Franchising, Inc., and Chris T. Gregoris for offering unregistered franchises and violating antifraud provisions. An amended order was issued against Gregory Richard Imbruce and related entities for unregistered securities offerings and misleading statements, while Orion Capital, LLC and Herman Wayne Gibson faced similar orders for unregistered notes and misappropriation. The Department entered Consent Orders fining J.P. Morgan Securities LLC $53,800 and Morgan Stanley Smith Barney LLC $5 million for supervisory lapses, and barred Vasilios Koutsobinas from Connecticut securities business for ten years. Additionally, a conditional registration was imposed on Rawlings Wealth Management LLC, and a settlement resolved civil litigation against Eddie Papic for unpaid fines.