Bulletin # 2879 - Week Ending April 26, 2019

 

 

SECURITIES AND BUSINESS INVESTMENTS DIVISION ACTIVITY 

Stipulation and Agreements

On April 24, 2019, the Banking Commissioner entered into a Stipulation and Agreement (No. ST-19-8434-S) with Vintage Foods Ltd., a medical/recreational marijuana manufacturer located at 20 Mayer Drive, Montebello, New York 10901. The Stipulation and Agreement alleged that, in 2015, Vintage Foods Ltd. sold unregistered securities to at least one Connecticut investor in violation of Section 36b-16 of the Connecticut Uniform Securities Act. Pursuant to the Stipulation and Agreement, Vintage Foods Ltd. agreed to 1) pay a $1,000 fine to the agency; 2) refrain from offering or selling securities in or from Connecticut absent compliance with Section 36b-16 of the Act; and 3) for a three year period, retain legal counsel experienced in securities law to advise it on state securities law compliance.


On April 25, 2019, the Banking Commissioner entered into a Stipulation and Agreement (No. ST-19-8456-S) with Titan Advisors, LLC, an investment adviser registered with the Securities and Exchange Commission. The firm maintains its principal office at 750 Washington Boulevard, Floor 10, Stamford, Connecticut 06901. The Stipulation and Agreement alleged that from 2015 to 2018, the firm did not make the regulatory notice filing required of SEC-registered advisers by Section 36b-6(c)(2) of the Connecticut Uniform Securities. The firm has since made a curative filing.

In resolution of the matter, Titan Advisors, LLC agreed to refrain from violative conduct and to remit $2,975 to the agency. Of that amount, $2,500 constituted an administrative fine and $475 constituted reimbursement for past due notice filing fees.