The Board agrees that a prohibition order, civil monetary penalties and cease-and-desist order
should be issued, as described in detail below.
Colorado, known as a haven for penny-stock cheats during much of the "greed-is-good" 9805, finally gave its securities commissioner, Fred Joseph, the power to issue cease-and-desist orders
against suspected stock-fraud thieves.
The cease-and-desist order
against Ridley shows that the SEC accepted an offer wherein Ridley agreed to abide by the cease-and-desist, and to refrain from associating with any "broker, dealer, investment advisor, municipal securities dealer, municipal advisor, transfer agent, or nationally recognized statistical rating organization.
In fact, according to the Securities Department's investigation, Global Partners is run out of Ontario by Cheung (who also uses the name John Chung) and Gahunia (who also goes by Shawn Miller), who were the subjects of a cease-and-desist order
by the Ontario Securities Commission in October.
Once this licensing problem was discovered, Oklahoma Insurance Commissioner Carroll Fisher slapped a cease-and-desist order
on the company and its Web site, LifeQuote.
KPMG also consented to a cease-and-desist order
of the Office of Thrift Supervision.
Such actions include involuntary liquidation, supervision, rehabilitation, receivership, conservatorship, a cease-and-desist order
, suspension, license revocation, administrative order and any other action that restricts a company's freedom to conduct its insurance business as normal.
GRAFTON - Shortly after hearing that the first of four 80,000-gallon empty propane storage tanks would be delivered today in town, selectmen yesterday issued a cease-and-desist order
on the Grafton and Upton Railroad, which is planning a propane transfer station on Westboro Road.
State and federal banking regulators have announced that they have lifted a cease-and-desist order
against Lacey-based, Anchor Bancorp.
The Arkansas Securities Department issued a cease-and-desist order
last week against Timothy Alonza Lilly of Maumelle, who does business as Covenant Senior Advisors LLC, for violating the Arkansas Securities Act.
In addition to those five, 24 other insurers have received Florida's new cease-and-desist order
, the department said.
In connection with the contemplated settlement, ADI would consent to a cease-and-desist order
under Section 10(b) of the Securities Exchange Act and Rule 10b-5 thereunder, would pay a civil money penalty of $3 million, and would reprice options granted to Mr.