Regulatory Alerts2006-09-30
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Summer-Fall 2006 Securities Bulletin
The Connecticut Department of Banking imposed fines and enforcement actions against multiple entities and individuals for violations including unregistered securities sales, improper commission splitting, and employing unregistered agents. Specific penalties included a $200,000 fine against Charter One Capital Holding, Inc., a $100,000 fine against Stephen Roy Desiderio, and a $20,000 fine against International Vacations, Ltd. for selling unregistered stock. The bulletin also details permanent bars from securities activities for Justin Matthew Dever and Andrew Savvas Constantinou, a five-year bar for Steven Hadley Haynes, and the denial of broker-dealer registration for Alpine Securities Corporation. Additional orders required rescission offers, compliance audits, and supervisory controls for firms such as Friends With Benefits, Limited Partnership and The Huntington Investment Company.
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