Regulatory Alerts2019-12-31
Added · Updated
Winter 2019 Securities Bulletin
The Connecticut Department of Banking imposed fines of $100,000 on GHC Fund One LLC and Reed Francis Bermingham for securities violations, including misrepresentation of investment use and unauthorized advisory activities. Horter Investment Management, LLC, Daniel Reens, and ETFConcepts, LLC settled allegations involving unregistered agents and fee-sharing arrangements through consent orders and stipulations, resulting in fines of $12,500, $4,000, and $1,350 respectively. The bulletin also details administrative cease and desist orders against Great Heritage Investments, LLC and George Henry Messier, requiring compliance restrictions and the retention of a regulatory consultant. Additionally, the document provides quarterly statistical summaries of licensing, examinations, investigations, and monetary sanctions for the fourth quarter of 2019.