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IN THE MATTER OF: (Collectively, "Respondents") * * * * * * * * * * * * * * * * * * |
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CONSENT ORDER |
I. PRELIMINARY STATEMENT
II. CONSENT TO WAIVER OF PROCEDURAL RIGHTS
WHEREAS, Respondents, through their execution of this Consent Order, voluntarily waive the following rights:
1. | To be afforded notice and an opportunity for a hearing within the meaning of Section 36b-27 of the Act and Section 4-177(a) of the General Statutes of Connecticut; |
2. | To present evidence and argument and to otherwise avail themselves of Section 36b-27 of the Act and Section 4-177c(a) of the General Statutes of Connecticut; |
3. | To present their respective positions in a hearing in which each is represented by counsel; |
4. | To have a written record of the hearing made and a written decision issued by a hearing officer; and |
5. | To seek judicial review of, or otherwise challenge or contest, the matters described herein, including the validity of this Consent Order. |
III. ACKNOWLEDGEMENT OF THE COMMISSIONER'S ALLEGATIONS
WHEREAS, Respondents, through their execution of this Consent Order, acknowledge the allegations of the Commissioner in the Notice, without admitting or denying them, yet admit that, if proven, sufficient evidence exists for the Commissioner to issue: (a) a permanent order to cease and desist against Respondents; (b) an order directing Respondents to make restitution; and (c) an order imposing upon Respondents a maximum administrative fine of one hundred thousand dollars ($100,000) per violation of the Act, or any regulation, rule or order adopted or issued thereunder;
WHEREAS, the Commissioner would have the authority to enter findings of fact and conclusions of law after granting Respondents an opportunity for a hearing;
AND WHEREAS, Respondents acknowledge the possible consequences of an administrative hearing and voluntarily agree to consent to the entry of the sanctions described below.
IV. CONSENT TO ENTRY OF SANCTIONS
WHEREAS, Respondents, through their execution of this Consent Order, consent to the Commissioner’s entry of an order imposing on them the following sanctions:
1. | Respondents shall cease and desist from directly or indirectly violating the provisions of the Act or any rule, regulation or order under the Act, including, without limitation, engaging in any activity in or from Connecticut that violates Sections 36b-16, 36b-4 or 36b-6(b) of the Act; |
2. | For a period of three (3) years commencing on the date this Consent Order is entered by the Commissioner, Respondents shall be BARRED from: (a) transacting business in or from Connecticut as an agent, broker-dealer, broker-dealer agent, investment adviser or investment adviser agent as such terms are defined in the Act, and notwithstanding any definitional exclusion that might otherwise be available under the Act; (b) maintaining a direct or indirect ownership interest in a broker-dealer or investment adviser registered or required to be registered in Connecticut; and c) acting in any other capacity which requires a license or registration under laws administered by the Commissioner; and |
3. | No later than the date this Consent Order is entered by the Commissioner, Respondents shall jointly and severally remit to the Department, by cashier’s check, certified check or money order made payable to “Treasurer, State of Connecticut,” the sum of five thousand dollars ($5,000) as an administrative fine. |
V. CONSENT ORDER
NOW THEREFORE, the Commissioner enters the following:
1. | The Sanctions set forth above be and are hereby entered; |
2. | Entry of this Consent Order by the Commissioner is without prejudice to the right of the Commissioner to take enforcement action against Respondents based upon a violation of this Consent Order or the matters underlying its entry if the Commissioner determines that compliance with the terms herein is not being observed; |
3. | Nothing in this Consent Order shall be construed as limiting the Commissioner’s ability to take enforcement action against Respondents based upon evidence of which the Division was unaware on the date hereof relating to a violation of the Act or any regulation or order under the Act; |
4. | Respondents shall not take any action or make or permit to be made any public statement, including in regulatory filings or otherwise, denying, directly or indirectly, any allegation referenced in this Consent Order or create the impression that this Consent Order is without factual basis; |
5. | Respondents shall not take any position in any proceeding brought by or on behalf of the Commissioner, or to which the Commissioner is a party, that is inconsistent with any part of this Consent Order. However, nothing in this Consent Order affects Respondents’ testimonial obligations or right to take any legal or factual position in litigation, arbitration, or other legal proceedings in which the Commissioner is not a party; and |
6. | This Consent Order shall become final when entered. |
So ordered at Hartford, Connecticut, | ____/s/_____________ | |
this 2nd day of January 2018. | Jorge L. Perez | |
Banking Commissioner |
CONSENT TO ENTRY OF ORDER
I, John W. Evans, state that I have read the foregoing Consent Order; that I know and fully understand its contents; that I agree freely and without threat or coercion of any kind to comply with the terms and conditions stated herein; and that I consent to the entry of this Consent Order.
____/s/________ | |
John W. Evans |
State of: Connecticut
On this the 21st day of December 2017, before me, the undersigned officer, personally appeared John W. Evans, known to me (or satisfactorily proven) to be the person whose name is subscribed to the within instrument and acknowledged that he executed the same for the purposes therein contained.
____/s/________________________ |
Notary Public |
Date Commission Expires: 1/31/22 |
CONSENT TO ENTRY OF ORDER
I, Bonnie A. Evans, state that I have read the foregoing Consent Order; that I know and fully understand its contents; that I agree freely and without threat or coercion of any kind to comply with the terms and conditions stated herein; and that I consent to the entry of this Consent Order.
______/s/______ | |
Bonnie A. Evans |
State of: Connecticut
On this the 21st day of December 2017, before me, the undersigned officer, personally appeared Bonnie A. Evans, known to me (or satisfactorily proven) to be the person whose name is subscribed to the within instrument and acknowledged that she executed the same for the purposes therein contained.
____/s/________________________ |
Notary Public |
Date Commission Expires: 1/31/22 |