Regulatory Alerts2011-12-31
Added · Updated
Winter 2011 Securities Bulletin
The Connecticut Department of Banking issued cease and desist orders, fines, and restitution requirements against multiple entities and individuals for selling unregistered securities, acting as unregistered agents, and engaging in fraudulent practices. Specific penalties included a $300,000 fine and restitution order against Julius Blackwelder, a $7,771 fine against Morgan Asset Management and Morgan Keegan for inadequate disclosure, and a $10,000 fine against Newbridge Securities for mischaracterized handling fees. The bulletin also details consent orders barring Daniel Quentin Humphrey and Alexander Hamilton Britnell from transacting securities business for five and seven years respectively, while imposing conditional registration requirements on LGAUS LLC and Michael James Byl.
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