Regulatory Alerts2021-12-31
Added · Updated
Winter 2021 Securities Bulletin
The Connecticut Department of Banking’s Securities Division reports enforcement actions against KJM Securities, Inc. for failing to file annual audited financial reports, and against Endeavor Global Partners Corp. and David Manning Fresne for selling unregistered securities and fraudulently misappropriating $510,000. LPL Financial LLC consented to a $350,000 fine and a $150,000 contribution for investor education for failing to supervise agents who misappropriated approximately $1.7 million from clients. Additionally, the bulletin details stipulation agreements requiring Lifestyle Freedom Advisory Group, Stone Beach Investment Management, Davinci Capital Management, and Monomoy Capital Management to pay administrative fines ranging from $2,500 to $7,500 for registration and filing violations.