Regulatory Alerts2010-12-31
Added · Updated
Winter 2010 Securities Bulletin
The Connecticut Department of Banking imposed fines and enforcement actions against multiple entities for securities violations, including Grove Electronics LLC fined $10,000 for employing an unregistered agent and Jason Alexander Lawson fined $40,000 for fraud. Broker-dealers Wachovia Securities, Goldman Sachs, and Wells Fargo Investments were fined $75,000, $1,014,903, and $6,501 respectively for supervisory failures related to auction rate securities. Additional sanctions included permanent cease and desist orders against Westrock Advisors and Meyers Associates, a five-year bar for Digital In-Motion LLC, and fines for inadequate fee disclosure by JHS Capital Advisors and unregistered securities sales by Prosper Marketplace.
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