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THOMAS E. SEILER * * * * * * * * * * * * * * * * * * |
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CONSENT ORDER No. CO-15-8269-S |
I. PRELIMINARY STATEMENT
II. CONSENT TO WAIVER OF PROCEDURAL RIGHTS
WHEREAS, Respondent, through his execution of this Consent Order, voluntarily waives 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 himself of Section 36b-27 of the Act and Section 4-177c(a) of the General Statutes of Connecticut; |
3. | To present his position in a hearing in which he 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, Respondent, through his execution of this Consent Order, acknowledges the following allegations of the Commissioner, and does not admit or deny these allegations, but agrees that there is sufficient evidence that would support the Commissioner’s initiation of administrative proceedings under Section 36b-27(a) and 36b-27(d) of the Act:
1. | Respondent violated Section 36b-16 of the Act through the offer and sale of securities in or from Connecticut to at least one investor, which securities were not registered in Connecticut under the Act, nor were they exempt from registration under Section 36b-21 of the Act, nor were they the subject of a filed exemption claim or claim of covered security status; and |
2. | Respondent violated Section 36b-6(a) of the Act by transacting business as an unregistered agent of issuer. |
WHEREAS, the Commissioner would have the authority to enter findings of fact and conclusions of law after granting Respondent an opportunity for a hearing;
AND WHEREAS, Respondent acknowledges the possible consequences of an administrative hearing and voluntarily agrees to consent to the entry of the sanctions described below.
IV. CONSENT TO ENTRY OF SANCTIONS
WHEREAS, Respondent, through his execution of this Consent Order, consents to the Commissioner’s entry of a Consent Order imposing on him the following sanctions:
1. | Respondent shall cease and desist from directly or indirectly violating the provisions of the Act, including, without limitation, engaging in any activity in or from Connecticut that violates Sections 36b-16 or 36b-6(a) of the Act; |
2. | No later than the date this Consent Order is entered by the Commissioner, Respondent shall pay to the Department by cashier’s check, certified check or money order made payable to “Treasurer, State of Connecticut,” the sum of one thousand five hundred dollars ($1,500), which shall constitute an administrative fine; and |
3. | For a period of ten years, Respondent shall not: (a) apply for registration under the Act, or transact business in or from Connecticut, as a broker-dealer, agent, investment adviser or investment adviser agent as such terms are defined in Section 36b-3 of the Act; (b) rely on any definitional exclusion or exemption under the Act that would otherwise excuse registration by a person transacting business in or from Connecticut as an agent of issuer, broker-dealer agent, investment adviser agent, broker-dealer or investment adviser; and (c) act as a finder for compensation, receive or split commissions or similar remuneration and/or receive referral fees in conjunction with the offer, sale or purchase of securities effected in or from Connecticut. |
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 Respondent 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 the Respondent 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. | Respondent 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. However, nothing is [sic] this Consent Order affects Respondent’s 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 |
5. | Respondent 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. |
So ordered at Hartford, Connecticut, | ____/s/_____________ | |
this 2nd day of February 2016. | Jorge L. Perez | |
Banking Commissioner |
CONSENT TO ENTRY OF ORDER
I, Thomas E. Seiler, 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/_____
Thomas E. Seiler
On this the 29th day of Jan. 2015 [sic], before me, the undersigned officer, personally appeared Thomas E. Seiler, 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: Feb. 21, 2016 |