Regulatory Alerts2003-12-31
Added · Updated
Winter 2003 Securities Bulletin
Connecticut-registered broker-dealers may satisfy annual financial reporting requirements by filing with the National Association of Securities Dealers instead of the state, provided they submit a Waiver Eligibility Certification and commit to notifying the Commissioner within 24 hours of net capital shortfalls or upon request. The document details enforcement actions against multiple entities for selling unregistered securities, making misleading statements, and failing to disclose material information, resulting in permanent cease and desist orders and fines of $20,000 for Image Arts Etc., Sterling Advance Marketing Inc., and Barbara Alexis Blassingame. Additional administrative actions include stop orders against Debit Corporation of America, Inc. and Ameri P.O.S. Inc., and cease and desist orders against Light Management Systems Fund, LLC, J.R.D. Productions, Inc., Jan Lewan, and Telecom Entertainment. The bulletin also notes the conditioning of James Wilder Korth's withdrawal from broker-dealer agent registration with a 36-month ban on reapplication.
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