Regulatory Alerts2006-12-31
Added · Updated
Winter 2006 Securities Bulletin
The Connecticut Department of Banking imposed fines and restrictions on multiple entities for securities violations, including a $1 million fine and $2.5 million in investor education payments for Merrill Lynch due to inadequate oversight of market timing, and a $3,000 fine for Regal Nails, LLC for unregistered business opportunity sales. The agency conditioned broker-dealer and agent registrations for Harrison Douglas, Inc. and Timothy Robin Touloukian with specific limitations on client types, securities traded, and supervisory requirements for three years. Additionally, the Department assessed administrative penalties against Carrington Capital Management, LLC ($3,800) and Shimoda Capital Advisors Limited ($2,500) for failing to file required investment advisory notices, while issuing cease and desist orders and notices of intent to fine against several other firms and individuals for selling unregistered securities and engaging in fraudulent practices.
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