State of Connecticut Department of Banking

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The Department of Banking News Bulletin 

Bulletin # 2978 - Week Ending March 19, 2021

 

This bulletin constitutes the only official notification you will receive from this office concerning any of the following applications.  Any observations you may have are solicited.  Any comments should be in writing to Jorge L. Perez, Banking Commissioner, Department of Banking, 260 Constitution Plaza, Hartford, CT 06103-1800.  Written comments will be considered only if they are received within ten business days from the date of this bulletin.

 

SECURITIES AND BUSINESS INVESTMENTS DIVISION ACTIVITY
Stipulation and Agreement

On March 18, 2021, the Banking Commissioner entered into a Stipulation and Agreement (No. ST-19-10815-S) with AE Wealth Management, LLC, an SEC-registered investment adviser located at 2950 SW McClure Road, Topeka, Kansas. The Stipulation and Agreement alleged that from approximately January 2017 through August 2020, the firm engaged an unregistered investment adviser agent in violation of Section 36b-6(c)(3) of the Connecticut Uniform Securities Act. The investment adviser agent has since become registered in Connecticut. In resolution of the matter, the firm agreed to refrain from regulatory violations and to pay $4,875 to the department. Of that amount, $4,500 constituted an administrative fine and $375 represented reimbursement for past due investment adviser agent registration fees.
 
 
 
      Dated:  Tuesday, March 23, 2021

      Jorge L. Perez
      Banking Commissioner