Regulatory Alerts2013-12-31
Added · Updated
Winter 2013 Securities Bulletin
The Connecticut Department of Banking imposed fines and enforcement orders against multiple entities and individuals for securities law violations, including offering unregistered securities, acting as unregistered investment advisers, and committing fraud. Specific penalties included a $50,000 fine for Damian Seth Delgado, a $50,000 fine for Speed of Thought Trading Corporation, and aggregate fines totaling $425,000 against Gabriel Abensur, John Morgan, and several corporations. The Department also revoked the investment adviser registrations of J. Capital Advisors, LLC and Aaron Jousan Johnson, and fined PowerWater Systems, Inc., Duncan Cleworth, and PowerWater USA Ltd. $650,000 in aggregate while making cease and desist orders permanent. Additionally, consent orders resulted in a ten-year bar for Christian Meissenn, a $114,457.79 assessment for UBS Financial Services Inc. regarding supervisory lapses, and a $7,500 fine for Fundraising Co-Op, Inc. and Buyer Topia, Inc., alongside a $1,500 fine for Corre Opportunities Fund, L.P. for late notice filing.