Regulatory Alerts2024-06-30
Added · Updated
Summer 2024 Securities Bulletin
The Connecticut Department of Banking revoked the investment adviser registration of Morse Investment Management Company, Inc., effective June 14, 2024, for failing to file required financial condition reports. The department issued cease and desist orders, restitution orders, and notices of intent to fine against The Cheetah Fund L.P., C.M. Allen Capital Management, Inc., and Craig Murfee Allen for offering unregistered securities and committing fraud. Additionally, notices of intent to revoke broker-dealer registrations were issued against Arcview Capital, LLC, Horang Securities, LLC, Phillips & Company Securities Inc., and Radius Securities, LLC for failing to maintain required agent registrations. The department also imposed fines of $10,000 on Archer Micro Cap Value Fund and $20,000 on Artemis Capital Group L.L.C., and levied a $700,000 fine against Burns Capital Investments LLC and Thomas Zachary Burns while ordering restitution for cryptocurrency fraud violations.