Regulatory Alerts2023-06-30
Added · Updated
Summer 2023 Securities Bulletin
The Connecticut Securities and Business Investments Division rescinds the April 2020 advisory deferring annual financial reporting for registered investment advisers, requiring all such advisers to file financial condition reports within 90 days of their fiscal or calendar year end. The Division also issued an Order to Cease and Desist against Blackstone Wealth Solutions LLC and two individuals for unauthorized fund transfers and unregistered advisory activities. Additionally, Consent Orders were entered against multiple entities and individuals, including Michael Gissas, Clipper Capital Group LLC, Greenfield Financial Services LLC, Terrascheduler LLC, and Pratik KC, resulting in fines, bars, and restitution obligations for violations such as selling unregistered securities and making misleading statements. Finally, Stipulations and Agreements were resolved with Parnassus Funds and A.G.P./Alliance Global Partners, LLC for failure to file renewal notices and selling unregistered securities, respectively.