State Securities

Consent Order: McGonigle and RetireCo Cease and Desist

The Wisconsin Department of Financial Institutions issued a consent order against Matthew McGonigle and RetireCo Solutions, LLC for violating securities laws. The order requires them to cease and desist from further violations and includes restitution and barring from future registration.

Cease and Desist Order Against Watsans Exchange and Sabrina Marlow

The Wisconsin Department of Financial Institutions has issued a cease and desist order against Watsans Exchange and Sabrina Marlow for alleged violations of the Wisconsin Uniform Securities Law. The order revokes exemptions and proposes restitution and civil penalties for operating an unregistered crypto asset trading platform.

Montana Securities Fraud Reporting and Investigation

The Montana State Auditor, Commissioner of Securities and Insurance has updated its website to provide information on reporting securities fraud, investment theft, Ponzi schemes, and pyramid schemes. The agency encourages consumers and professionals to report suspected fraud through their online or paper complaint forms.

Montana Securities Act Overview

The Montana Securities Division provides an overview of the Montana Securities Act, emphasizing its role in investor protection, capital formation, and promoting uniformity among states. The page highlights key statistics for broker-dealer firms, capital approved, and issuer filings in Montana.

Montana Securities Division Enforcement Actions

The Montana Securities Division filed 16 enforcement actions in FY 2025, resulting in $59,000 in restitution ordered and $145,500 in fines and fees. The division investigates and prosecutes violations of Montana's insurance and securities laws.

Montana CSI Securities and Insurance Enforcement Actions

The Montana Commissioner of Securities and Insurance (CSI) has listed multiple securities and insurance enforcement actions on its website. These actions include consent agreements and final orders against various companies for alleged violations of Montana's Insurance Code and Securities Act.

Clear Capital Management Consent Order for Securities Violations

The Pennsylvania Department of Banking and Securities has issued a consent order against Clear Capital Management LP for violations of the Pennsylvania Securities Act of 1972. Clear Capital failed to file required audited balance sheets for fiscal years 2020-2024. The firm agreed to pay a $25,000 administrative assessment.

Marsden Capital Management Fined $12,500 for Securities Violations

The Pennsylvania Department of Banking and Securities has issued a Consent Agreement and Order against Marsden Capital Management, LLC, assessing a $12,500 penalty for violations of the Pennsylvania Securities Act of 1972. The violations stem from the failure to disclose outside business activities on the company's Form U-4.

Keitz Investment Management Fined $12,000 for Securities Violations

The Pennsylvania Department of Banking and Securities has fined Keitz Investment Management, Ltd. (KIM) $12,000 for failing to keep its Form ADV filings current and accurate. KIM has agreed to a payment plan for the administrative assessment.

Enduro Capital Partners Fined $25,000 for Securities Violations

The Pennsylvania Department of Banking and Securities has fined Enduro Capital Partners, LLC (ECP) $25,000 for failing to keep its Form ADV current and accurate. ECP must pay the fine in installments through November 2028.