Regulatory Alerts2019-06-30
Added · Updated
Summer 2019 Securities Bulletin
The Connecticut Department of Banking issued administrative actions against James Welsh and GHC Fund One LLC for selling unregistered securities and misusing investor funds, resulting in orders to cease and desist, make restitution, and face fines. Adam Westphalen and Mosaic Financial Strategies LLC received amended orders for failing to disclose affiliations, transacting as unregistered advisers, and soliciting investments in unregistered securities, with additional claims regarding investor losses. Settlements were reached with Ralph Steven Giorgio for acting as an unregistered agent, Titan Advisors, LLC for missing regulatory filings, and Vintage Foods Ltd. for selling unregistered securities, involving fines totaling $6,475 and compliance requirements. The bulletin also provides statistical summaries for the second quarter of 2019, detailing registration numbers, examination counts, and enforcement remedies imposed by the division.