Financial Compliance

Luminate Home Loans Fined $100k, Surrenders License

The Washington State Department of Financial Institutions has issued a consent order against Luminate Home Loans, Inc., requiring a $100,000 fine and the surrender of its consumer loan license. The company is prohibited from participating in Washington's mortgage broker or consumer loan industry until February 20, 2031.

Jason Goodhue Fined for Securities Law Violations

The Connecticut Department of Banking has issued a final order fining Jason A. Goodhue $100,000 for violating state securities laws. Goodhue engaged in dishonest or unethical practices and exercised discretionary power in customer accounts without written authorization.

Colorado Homeowners Insurance Costs and Hail Risk Analysis

Colorado's Division of Insurance released data showing hail is the primary driver of homeowners insurance cost spikes, accounting for 26-54% of premiums. Governor Polis and the DOI are seeking innovative solutions to lower these costs for homeowners and are working on legislation for roof fortification grants and wildfire reinsurance.

Eric Gemelli Barred from Securities Sales in Colorado for 10 Years

The Colorado Securities Commissioner has barred Eric Gemelli and his company, Market4Caster, LLC, from selling securities in Colorado for 10 years following their admission to violating the Colorado Securities Act. The defendants admitted to unlicensed sales of over $3 million in unregistered securities.

Colorado PUC Approves 4,100MW New Energy Resources for Xcel Energy

The Colorado Public Utilities Commission has approved approximately 4,100MW of new solar, storage, wind, and natural gas energy generation for Xcel Energy. This decision, made under an expedited process to leverage expiring federal tax credits, aims to replace aging coal plants and meet growing energy demand, potentially saving customers billions.

FINRA Seeks Comment on Modernizing Arbitration Rules

FINRA has issued a request for comment on modernizing its arbitration rules, guidance, and processes. The notice seeks input from interested parties to help shape future revisions aimed at improving fairness, efficiency, and transparency in the arbitration forum.

SEC Fines North East Asset Management $251,640.83 for Cherry-Picking

The SEC has fined North East Asset Management Group, Inc. and its principal, Gregory A. Zandlo, a total of $251,640.83 for engaging in cherry-picking. The funds will be used to create a Fair Fund for distribution to harmed investors.

SEC Fines Elanco Animal Health $15M for Misleading Revenue Disclosures

The SEC has fined Elanco Animal Health Inc. $15 million for misleading investors about its revenue growth between Q1 2019 and Q1 2020. The company used quarter-end incentives to meet internal targets without disclosing them, rendering public statements about revenue growth materially misleading. A Fair Fund has been established to distribute the penalty to harmed investors.

FCA Opens Authorisation Gateway for Targeted Financial Support

The FCA has opened its authorisation gateway for firms seeking permission to provide targeted financial support, a new service set to launch on 6 April 2026. This initiative aims to help millions of consumers navigate financial decisions regarding pensions and investments by filling a gap between generic guidance and individual advice.

Treasury Sanctions Five Nicaraguan Officials for Repression

The U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) sanctioned five Nicaraguan government officials for their roles in enabling repression. These sanctions target individuals leading key financial, communications, and military agencies within the Nicaraguan government.