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THE DRATEL GROUP, INC.
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ORDER REVOKING
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I. PRELIMINARY STATEMENT
When a party fails to request a hearing within the time specified in the notice, the allegations against the party may be deemed admitted. Without further proceedings or notice to the party, the commissioner shall issue a final decision in accordance with section 4-180 of the Connecticut General Statutes and section 36a-1-52 of the Regulations of Connecticut State Agencies[;] |
WHEREAS, Section 36b-15 of the Act provides, in pertinent part, that:
(a) | The commissioner may, by order . . . revoke any registration . . . if the commissioner finds that (1) the order is in the public interest, and (2) the . . . registrant . . . (F) is the subject of any of the following sanctions that are currently effective or were imposed within the past ten years: (i) An order issued by the securities administrator of any other state . . . revoking registration as a broker-dealer . . . [or] (iii) a suspension, expulsion or other sanction issued by a national securities exchange or other self-regulatory organization registered under federal laws administered by the Securities and Exchange Commission . . . if the effect of the sanction has not been stayed or overturned by appeal or otherwise[.] | |
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(f) | No order may be entered under this section except as provided in subsection (c) of this section without (1) appropriate prior notice to the . . . registrant . . . (2) opportunity for hearing, and (3) written findings of fact and conclusions of law[;] |
II. FINDINGS OF FACT AND CONCLUSIONS OF LAW
1.
The Commissioner finds that the facts as set forth in paragraphs 3 through 17, inclusive, of the Notice shall constitute findings of fact within the meaning of Section 4-180(c) of the General Statutes of Connecticut and Section 36a-1-52 of the Regulations, and that the Statutory Basis for Revocation of Registration as a Broker-dealer set forth in paragraphs 18 through 21, inclusive, of the Notice shall constitute conclusions of law within the meaning of Section 4-180(c) of the General Statutes of Connecticut and Section 36a-1-52 of the Regulations.
2.
The Commissioner finds that grounds exist to revoke Respondent’s registration as a broker-dealer in Connecticut pursuant to Sections 36b-15(a)(2)(F)(iii) and 36b-15(a)(2)(F)(i) of the Act.
3.
The Commissioner finds that the facts require the issuance of an order revoking Respondent’s registration as a broker-dealer in Connecticut.
4.
The Commissioner finds that the Notice complied with the requirements of Section 36b-15(f) of the Act and Sections 4-177 and 4-182(c) of the General Statutes of Connecticut.
5.
The Commissioner finds that the issuance of an order revoking Respondent’s registration as a broker-dealer in Connecticut is necessary and appropriate in the public interest and for the protection of investors and consistent with the purposes fairly intended by the policy and provisions of Sections 36b-2 to 36b-34, inclusive, of the Act.
III. ORDER
Having read the record, I hereby ORDER, pursuant to Section 36b-15 of the Act, that:
1. | The registration of The Dratel Group, Inc. as a broker-dealer in Connecticut is hereby REVOKED; and |
2. | This Order shall become effective when mailed. |
Dated at Hartford, Connecticut, | ____/s/_____________ | |
this 4th day of November 2016. | Jorge L. Perez | |
Banking Commissioner |
This Order was sent by certified
mail, return receipt requested, to
Respondent on November 4, 2016.
The Dratel Group, Inc.
53345 Route 25, Building 10, #3
Southold, New York 11971
Certified mail no. 7012 3050 0000 6997 6339
The Dratel Group, Inc.
P.O. Box 1026
Southold, New York 11971
Certified mail no. 7012 3050 0000 6997 6346