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EQA CURRENCY FUND LP * * * * * * * * * * * * * * * * * * |
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STIPULATION AND No. ST-12-8034-S |
WHEREAS, the Banking Commissioner (the “Commissioner”) is responsible for administering 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, EQA Currency Fund LP and EQA Global Macro Fund LP (together, the “Issuers”) are affiliated issuers of limited partnership interests, and are both located at 305 Bedford Street, 3rd Floor, Stamford, Connecticut 06901;
WHEREAS, Section 36b-21(e) of the Act requires that persons offering or selling a security that is a covered security under Section 18(b)(4)(D) of the Securities Act of 1933 [i.e. Rule 506 transactions] to “file a notice with the commissioner within fifteen days after the first sale of such a security in this state” and pay an associated fee of $150;
WHEREAS, the Securities and Business Investments Division of the Department of Banking (the “Division”) ascertained that each of the Issuers had commenced an offering of limited partnership interests in 2007 and had not made the notice filing required by Section 36b-21(e) of the Act;
WHEREAS, on June 20, 2012, the Division received a curative filing and fee from each of the Issuers pursuant to Section 36b-21(e) of the Act;
WHEREAS, the Commissioner acknowledges that the Issuers and their general partner cooperated with the Division in providing requested information and documents;
WHEREAS, Section 4-177(c) of Chapter 54 of the Connecticut General Statutes permits the resolution of a contested case by stipulation or agreed settlement;
WHEREAS, each of the Issuers desires to settle the matters described herein and voluntarily enters into this Stipulation and Agreement, acknowledging that this Stipulation and Agreement is in lieu of any court action or administrative proceeding against the Issuers, their partners, employees, agents or representatives adjudicating any issue of fact or law on the specific matters described herein;
WHEREAS, each of the Issuers, through its execution of this Stipulation and Agreement, voluntarily waives any rights it may have to seek judicial review or otherwise challenge or contest the terms and conditions of this Stipulation and Agreement;
NOW THEREFORE, THE PARTIES HERETO DO MUTUALLY AGREE AS FOLLOWS:
| 1. |
No later than the date this Stipulation and Agreement is executed by the Commissioner, EQA Currency Fund LP shall remit to the department via check payable to “Treasurer, State of Connecticut” the sum of seven hundred fifty dollars ($750) as an administrative fine; |
| 2. |
No later than the date this Stipulation and Agreement is executed by the Commissioner, EQA Global Macro Fund LP shall remit to the department via check payable to “Treasurer, State of Connecticut” the sum of seven hundred fifty dollars ($750) as an administrative fine; |
| 3. | EQA Currency Fund LP and EQA Global Macro Fund LP shall refrain from offering or selling securities in or from Connecticut absent compliance with Section 36b-16 of the Act, including timely compliance with any applicable filing requirements; |
| 4. | Execution of this Stipulation and Agreement by the Commissioner is without prejudice to the right of the Commissioner to take enforcement action against EQA Currency Fund LP and EQA Global Macro Fund LP based upon a violation of this Stipulation and Agreement or the basis for its entry if the Commissioner determines that compliance is not being observed with the terms hereof; and |
| 5. | This Stipulation and Agreement shall become binding when executed by EQA Currency Fund LP, EQA Global Macro Fund LP and the Commissioner. |
IN WITNESS WHEREOF, the undersigned have executed this Stipulation and Agreement on the dates indicated.
| Dated at Hartford, Connecticut | _______/s/_________ | |
| this 17th day of July 2012. | Howard F. Pitkin | |
| Banking Commissioner |
I, Richard Breslow, state on behalf of EQA Currency Fund LP, that I have read the foregoing Stipulation and Agreement; that I know and fully understand its contents; that I am authorized to execute this Stipulation and Agreement on behalf of EQA Currency Fund LP and that EQA Currency Fund LP agrees freely and without threat or coercion of any kind to comply with the terms and conditions stated herein.
| EQA Currency Fund LP | ||
| By | ______/s/_____________________________ | |
| Richard Breslow | ||
| Chief Investment Officer of EQA Partners, LP | ||
| Its General Partner |
On this 9th day of July 2012, personally appeared Richard Breslow, signer of the foregoing Stipulation and Agreement, who, being duly sworn, did acknowledge to me that he was authorized to execute the same on behalf of EQA Currency Fund LP, a limited partnership, and acknowledged the same to be his free act and deed, before me.
_____/s/___________________________
Notary Public
My Commission Expires: March 31, 2014
I, Richard Breslow, state on behalf of EQA Global Macro Fund LP, that I have read the foregoing Stipulation and Agreement; that I know and fully understand its contents; that I am authorized to execute this Stipulation and Agreement on behalf of EQA Global Macro Fund LP and that EQA Global Macro Fund LP agrees freely and without threat or coercion of any kind to comply with the terms and conditions stated herein.
| EQA Global Macro Fund LP | ||
| By | ______/s/_____________________________ | |
| Richard Breslow | ||
| Chief Investment Officer of EQA Partners, LP | ||
| Its General Partner |
On this 9th day of July 2012, personally appeared Richard Breslow, signer of the foregoing Stipulation and Agreement, who, being duly sworn, did acknowledge to me that he was authorized to execute the same on behalf of EQA Global Macro Fund LP, a limited partnership, and acknowledged the same to be his free act and deed, before me.
_____/s/___________________________
Notary Public
My Commission Expires: March 31, 2014