I. PRELIMINARY STATEMENT

WHEREAS, the Banking Commissioner (“Commissioner”) is charged with the administration of Chapter 672a of the Connecticut General Statutes, the Connecticut Uniform Securities Act (“Act”), and Sections 36b-31-2 to 36b-31-33, inclusive, of the Regulations of Connecticut State Agencies (“Regulations”) promulgated under the Act;

WHEREAS, the Commissioner, through the Securities and Business Investments Division of the Department of Banking (“Department”), conducted an investigation into the activities of Cynergy Advance Services, LLC (“Respondent”), pursuant to Section 36b-26(a) of the Act, as amended by Public Act 10-141, to determine if Respondent had violated, was violating or was about to violate provisions of the Act or Regulations (“Investigation”);

WHEREAS, on January 19, 2011, based on the Investigation, the Commissioner, acting pursuant to Section 36b-27(a) of the 2010 Supplement to the General Statutes (“2010 Supplement”), as amended by Public Act 10-141, and Section 36b-27(d) of the 2010 Supplement, as amended by Public Act 10-141, issued an Order to Cease and Desist (“Order”), Notice of Intent to Fine and Notice of Right to Hearing against Respondent (collectively “Notice”), which Notice is incorporated by reference herein;

WHEREAS, the Commissioner alleged in the Notice that Respondent offered and sold unregistered securities from Connecticut to at least one investor, which securities were not registered in Connecticut under the Act.  The offer and sale of such securities absent registration constitutes a violation of Section 36b-16 of the Act, as amended by Public Act 10-141, which forms a basis for an order to cease and desist to be issued against Respondent under Section 36b-27(a) of the 2010 Supplement, as amended, and for the imposition of a fine against Respondent under Section 36b-27(d) of the 2010 Supplement, as amended;

WHEREAS, the Commissioner alleged in the Notice that the conduct of Respondent constitutes, in connection with the offer, sale or purchase of any security, directly or indirectly, employing a device, scheme or artifice to defraud, making an untrue statement of a material fact or omitting to state a material fact necessary in order to make the statements made, in the light of the circumstances under which they are made, not misleading, or engaging in an act, practice or course of business which operates or would operate as a fraud or deceit upon any person.  Such conduct constitutes a violation of Section 36b-4(a) of the 2010 Supplement, which forms a basis for an order to cease and desist to be issued against Respondent under Section 36b-27(a) of the 2010 Supplement, as amended, and for the imposition of a fine against Respondent under Section 36b-27(d) of the 2010 Supplement, as amended;

WHEREAS, the Commissioner alleged in the Notice that Respondent employed an unregistered agent of issuer on at least one occasion.  Such conduct constitutes a violation of Section 36b-6(b) of the Act, as amended by Public Act 10-141, which forms a basis for an order to cease and desist to be issued against Respondent under Section 36b-27(a) of the 2010 Supplement, as amended, and for the imposition of a fine against Respondent under Section 36b-27(d) of the 2010 Supplement, as amended;

WHEREAS, the Notice stated, inter alia, that the Commissioner intended to impose a fine against Respondent, that Respondent would be afforded an opportunity for a hearing on the allegations set forth in the Notice if a written request for a hearing was received by the Department within fourteen (14) days following Respondent’s receipt of the Notice, and that the Commissioner may order that the maximum fine be imposed upon Respondent if Respondent failed to request a hearing within the prescribed time period or failed to appear at any such hearing;

WHEREAS, on January 19, 2011, the Notice was sent by certified mail, return receipt requested, to Respondent;

WHEREAS, on January 24, 2011, Respondent received the Notice;

WHEREAS, Respondent has failed to request a hearing on the allegations set forth in the Notice within fourteen (14) days of its receipt;

WHEREAS, on March 25, 2011, a Certification was issued rendering the Order permanent as of February 8, 2011, which Certification is incorporated by reference herein;

WHEREAS, Section 36a-1-31(a) of the Regulations of Connecticut State Agencies provides, in pertinent part, that:

WHEREAS, Section 36b-31(a) of the Act provides, in pertinent part, that “[t]he commissioner may from time to time make . . . such . . . orders as are necessary to carry out the provisions of sections 36b-2 to 36b-34, inclusive”;

AND WHEREAS, Section 36b-31(b) of the Act provides, in pertinent part, that “[n]o . . . order may be made . . . unless the commissioner finds that the action is necessary or appropriate in the public interest or for the protection of investors and consistent with the purposes fairly intended by the policy and provisions of sections 36b-2 to 36b-34, inclusive.”

II.  FINDINGS OF FACT AND CONCLUSIONS OF LAW

III.  ORDER

Having read the record, I hereby ORDER, pursuant to Section 36b-27(d) of the Act, that:

This Order was sent by certified mail,
return receipt requested, to
Respondent on April 1, 2011.

Cynergy Advance Services, LLC 
1128 Royal Palm Beach Boulevard, Suite 145
Royal Palm Beach, FL 33411
Certified mail no. 7010 1870 0001 3618 8553

Cynergy Advance Services, LLC 
745 Main Street
Newington, CT 06111
Certified mail no. 7010 1870 0001 3618 8560

Cynergy Advance Services, LLC
615 West Johnson Avenue, Suite 202
Cheshire, CT 06410
Certified mail no. 7010 1870 0001 3618 8577
                          

Administrative Orders and Settlements