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IN THE MATTER OF: JEFFREY ALAN COHAN * * * * * * * * * * * * * * * |
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ORDER MODIFYING No. CO-2009-7308-S |
PRELIMINARY STATEMENT
WHEREAS, the Banking Commissioner (the “Commissioner”) is charged with the administration of Chapter 672a of the Connecticut General Statutes, the Connecticut Uniform Securities Act (the “Act”) and Sections 36b-31-2 et seq. of the Regulations of Connecticut State Agencies (the “Regulations”) promulgated under the Act;
WHEREAS, on June 3, 2008, the Commissioner entered a Consent Order (the “Consent Order”) (No. CO-2008-7308-S), the terms of which are incorporated by reference herein, with respect to Jeffrey Alan Cohan (“Cohan”), a registered broker-dealer agent under the Act;
WHEREAS, paragraph (2) of the Consent Order provided that, for three years, Cohan’s securities sales activities on behalf of any Connecticut-registered broker-dealer would be limited to certain products described in the Consent Order;
WHEREAS, on January 27, 2009, the department received an electronic communication from Cohan requesting that paragraph (2) of the Consent Order be modified to expand the scope of Cohan’s permissible securities sales activities during such three year period;
WHEREAS, Cohan has not been the subject of any regulatory actions, complaints or arbitrations reported since the entry of the Consent Order;
WHEREAS, Section 36b-31(a) of the Act provides, in part, that: “The Commissioner may from time to time make, amend and rescind such ... orders as are necessary to carry out the provisions of Sections 36b-2 to 36b-33, inclusive [of the Act]”;
WHEREAS, Section 36b-31(b) of the Act states, in part, that: “No ... order may be made, amended or rescinded unless the commissioner finds that the action is necessary or appropriate in the public interest or for the protection of investors and consistent with the purposes fairly intended by the policy and provisions of ... [the Act]”;
WHEREAS, the Commissioner finds that the issuance of this Order is appropriate in the public interest and consistent with the purposes fairly intended by the policy and provisions of the Act;
THE COMMISSIONER HEREBY ORDERS THAT:
| (1) | Paragraph 2 of the Consent Order is hereby amended to permit Cohan, in his capacity as a registered broker-dealer agent, to effect transactions in the securities of issuers comprising the Financial Times Stock Exchange (“FTSE”) 100 Index; |
| (2) | A copy of this Order shall be mailed forthwith to Jeffrey Alan Cohan and to his employing broker-dealer; and |
| (3) | This Order shall become final when issued. |
________/s/_________
Howard F. Pitkin
Banking Commissioner
So ordered at Hartford, Connecticut
this 6th day of March 2009.
this 6th day of March 2009.