Charles Vaccaro prior to HLV scam > VCM failure > Team Trading, LLC > Team Trading Extreme, LLC
http://www.speedyshare.com/files/20204856/Vaccaro.mp3
STATE OF CONNECTICUT
DEPARTMENT OF BANKNG
* * * * * * * * * * * * * * * * *
*
IN THE MATTER OF: *
*
F1 TRADING.COM, INC. * CONSENT ORDER
f/k/a GOLD COUNTRY SECURITIES *
CRD NO. 20375 * DOCKET NO. NDCF-2000-6107-S
*
("F1 Trading.com") *
*
* * * * * * * * * * * * * * * * *
PRELIMINARY STATEMENT
WHEREAS, the Banking Commissioner (the "Commissioner") is
charged with the administration of Chapter 672a of the
Connecticut General Statutes, the Connecticut Uniform
Securities Act (the "Act"), and Sections 36b-31-2 et seq. of
the Regulations of Connecticut State Agencies promulgated
under the Act;
WHEREAS, the Commissioner, through the Securities and
Business Investments Division (the "Division") of the
Department of Banking, conducted an investigation pursuant to
Sections 36b-8 and 36b-26(a) of the Act into the activities of
F1 Trading.com, to determine whether F1 Trading.com had
violated or was about to violate any provision of the Act or
any regulation or order under the Act (the "Investigation");
WHEREAS, as a result of the Investigation, the Division
obtained evidence that from at least September 1999 to June
2000, F1 Trading.com, without being registered in Connecticut
as a broker-dealer, executed the following trades for the
accounts of persons located in Connecticut: 3 purchases and
4 sales of Go2Net, Inc.; 1 sale of Play Co. Toys & Entertainment
Corp.; 2 purchases and 6 sales of MRV Communications, Inc.;
1 sale of Palomar Medical Technologies, Inc.; 1 purchase and
5 sales of RealNetworks, Inc.; and 2 purchases of SuperGen,
Inc.;
WHEREAS, as a result of the Investigation, the Division
obtained evidence that on or about July 12, 2000, in response
to a request by the Division to update F1 Trading.com's June 7,
1999, application for registration as a broker-dealer,
F1 Trading.com filed a document with the Commissioner that
contained the following statement: "F1 Trading.com has never
effected securities transactions within and/or from the State
of Connecticut." The filing of such statement constituted the
filing of a document with the Commissioner which was, at the
time it was made and in light of the circumstances under which
it was made, false or misleading in a material respect;
WHEREAS, on November 8, 2000, the Commissioner, acting
pursuant to Sections 36b-15(a), 36b-27(a) and 36b-27(d) of the
Act, as amended by Public Act 99-38, issued a Notice of Intent
to Deny Registration as Broker-Dealer, Order to Cease and Desist,
Notice of Intent to Fine and Notice of Right to Hearing against
F1 Trading.com (the "Notice"), which Notice is incorporated by
reference herein;
WHEREAS, the Notice set the hearing date for the Notice of
Intent to Fine for January 2, 2001;
WHEREAS, on November 22, 2000, F1 Trading.com filed a written
request for a hearing on the matters alleged in the Notice;
WHEREAS, on December 4, 2000, the designated Hearing Officer
granted a motion consolidating the requested hearing with the
hearing on the Notice of Intent to Fine;
WHEREAS, on December 21, 2000, the designated Hearing Officer
granted a motion to continue the consolidated hearing to
February 5, 2001;
WHEREAS, Section 36b-31(a) of the Act, as amended by Public
Act 99-38, provides, in relevant 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-33, inclusive";
WHEREAS, Section 4-177(c) of the Connecticut General Statutes
provides, in part, that "nless precluded by law, a contested
case may be resolved by . . . consent order";
WHEREAS, F1 Trading.com agrees that the Notice may be used in
construing the terms of this Consent Order;
WHEREAS, F1 Trading.com and the Commissioner now desire to
resolve the matters alleged in the Notice, without the need for
further administrative proceedings, and agree to the language in
this Consent Order.
CONSENT TO WAIVER OF PROCEDURAL RIGHTS
WHEREAS, F1 Trading.com, through its execution of this Consent
Order, voluntarily waives the following rights:
1. To be afforded an opportunity for a hearing within the
meaning of Sections 36b-15(f), 36b-27(a), 36b-27(d)(2),
and 4-177c(a) of the Connecticut General Statutes;
2. To present evidence and argument and to otherwise avail
itself of Sections 36b-15(f), 36b-27(a), 36b-27(d)(2),
and 4-177c(a) of the Connecticut General Statutes;
3. To present its position in a hearing in which it is
represented by counsel;
4. To have a written record of the hearing made and a
written decision issued by a hearing officer; and
5. To seek judicial review of, or otherwise challenge or
contest the matters described herein, including the
validity of this Consent Order.
ACKNOWLEDGEMENT OF THE ENTRY OF FINDINGS
WHEREAS, F1 Trading.com, through its execution of this Consent
Order, and without admitting or denying the Commissioner's allegations
of violations, or admitting or denying the Commissioner's findings,
acknowledges those findings and their entry by the Commissioner below:
1. The entry of this Consent Order 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 the Act;
2. F1 Trading.com wilfully violated Section 36b-6(a) of the
Act by transacting business in Connecticut absent
registration as a broker-dealer in Connecticut. Such
wilful violation forms the basis for the denial of
registration as a broker-dealer pursuant to Section
36b-15(a)(2)(B) of the Act, as amended by Public Act
99-38, an order to cease and desist pursuant to Section
36b-27(a) of the Act, as amended, and an order imposing
a fine pursuant to Section 36b-27(d) of the Act, as
amended; and
3. F1 Trading.com wilfully violated Section 36b-23 of the
Act, as amended by Public Act 99-38, by filing a document
with the Commissioner which was, at the time it was made
and in light of the circumstances under which it was made,
false or misleading in a material respect. Such wilful
violation forms the basis for the denial of registration
as a broker-dealer pursuant to Section 36b-15(a)(2)(B)
of the Act, an order to cease and desist pursuant to
Section 36b-27(a) of the Act, as amended, and an order
imposing a fine pursuant to Section 36b-27(d) of the Act,
as amended.
CONSENT TO ENTRY OF SANCTIONS
WHEREAS, F1 Trading.com, through its execution of this Consent
Order, consents to the Commissioner's issuance of an Order imposing
on it the following sanctions:
1. No later than the date this Order is entered by the
Commissioner, F1 Trading.com shall remit to the Department
of Banking, by certified check made payable to "Treasurer,
State of Connecticut", the sum of Seven Thousand Five
Hundred Dollars ($7,500); and
2. No later than the date this Order is entered by the
Commissioner, F1 Trading.com shall withdraw its application
for registration as a broker-dealer, without prejudice,
with leave to re-apply after a period of five years has
elapsed following the entrance of this Order.
AND WHEREAS, F1 Trading.com specifically assures the Commissioner
that none of the violations alleged in the Notice shall occur in the
future.
CONSENT ORDER
NOW THEREFORE, the Commissioner enters the following:
1. The Findings and Sanctions set forth above be and are
hereby entered;
2. Entry of this Consent Order by the Commissioner is without
prejudice to the right of the Commissioner to take
enforcement against F1 Trading.com based upon a violation
of this Consent Order or the matters underlying its entry,
if the Commissioner determines that compliance with the
terms herein is not being observed or if any
representations made by F1 Trading.com and reflected
herein are subsequently discovered to be untrue; and
3. This Consent Order shall become final when issued.
________/s/_________
John P. Burke
Banking Commissioner
So ordered at Hartford, Connecticut
this 13th day of February 2001.
CONSENT TO ENTRY OF ORDER
I, Charles Vaccaro, state on behalf of F1 Trading.com, that I have
read the foregoing Consent Order; that I know and fully understand
its contents; that I am authorized to execute this Consent Order on
behalf of F1 Trading.com; that F1 Trading.com agrees freely and
without threat or coercion of any kind to comply with the terms and
conditions stated herein; and that F1 Trading.com consents to the
issuance of this Consent Order, expressly waiving any right to a
hearing on the matters described herein.
_______/s/_______
On this 31st day of January 2001, personally appeared Charles
Vaccaro, signer of the foregoing Consent Order, who, being duly
sworn, acknowledged the same to be his/her free act and deed,
before me.
________/s/___________
Notary Public
My Commission Expires:
http://www.speedyshare.com/files/20204856/Vaccaro.mp3
STATE OF CONNECTICUT
DEPARTMENT OF BANKNG
* * * * * * * * * * * * * * * * *
*
IN THE MATTER OF: *
*
F1 TRADING.COM, INC. * CONSENT ORDER
f/k/a GOLD COUNTRY SECURITIES *
CRD NO. 20375 * DOCKET NO. NDCF-2000-6107-S
*
("F1 Trading.com") *
*
* * * * * * * * * * * * * * * * *
PRELIMINARY STATEMENT
WHEREAS, the Banking Commissioner (the "Commissioner") is
charged with the administration of Chapter 672a of the
Connecticut General Statutes, the Connecticut Uniform
Securities Act (the "Act"), and Sections 36b-31-2 et seq. of
the Regulations of Connecticut State Agencies promulgated
under the Act;
WHEREAS, the Commissioner, through the Securities and
Business Investments Division (the "Division") of the
Department of Banking, conducted an investigation pursuant to
Sections 36b-8 and 36b-26(a) of the Act into the activities of
F1 Trading.com, to determine whether F1 Trading.com had
violated or was about to violate any provision of the Act or
any regulation or order under the Act (the "Investigation");
WHEREAS, as a result of the Investigation, the Division
obtained evidence that from at least September 1999 to June
2000, F1 Trading.com, without being registered in Connecticut
as a broker-dealer, executed the following trades for the
accounts of persons located in Connecticut: 3 purchases and
4 sales of Go2Net, Inc.; 1 sale of Play Co. Toys & Entertainment
Corp.; 2 purchases and 6 sales of MRV Communications, Inc.;
1 sale of Palomar Medical Technologies, Inc.; 1 purchase and
5 sales of RealNetworks, Inc.; and 2 purchases of SuperGen,
Inc.;
WHEREAS, as a result of the Investigation, the Division
obtained evidence that on or about July 12, 2000, in response
to a request by the Division to update F1 Trading.com's June 7,
1999, application for registration as a broker-dealer,
F1 Trading.com filed a document with the Commissioner that
contained the following statement: "F1 Trading.com has never
effected securities transactions within and/or from the State
of Connecticut." The filing of such statement constituted the
filing of a document with the Commissioner which was, at the
time it was made and in light of the circumstances under which
it was made, false or misleading in a material respect;
WHEREAS, on November 8, 2000, the Commissioner, acting
pursuant to Sections 36b-15(a), 36b-27(a) and 36b-27(d) of the
Act, as amended by Public Act 99-38, issued a Notice of Intent
to Deny Registration as Broker-Dealer, Order to Cease and Desist,
Notice of Intent to Fine and Notice of Right to Hearing against
F1 Trading.com (the "Notice"), which Notice is incorporated by
reference herein;
WHEREAS, the Notice set the hearing date for the Notice of
Intent to Fine for January 2, 2001;
WHEREAS, on November 22, 2000, F1 Trading.com filed a written
request for a hearing on the matters alleged in the Notice;
WHEREAS, on December 4, 2000, the designated Hearing Officer
granted a motion consolidating the requested hearing with the
hearing on the Notice of Intent to Fine;
WHEREAS, on December 21, 2000, the designated Hearing Officer
granted a motion to continue the consolidated hearing to
February 5, 2001;
WHEREAS, Section 36b-31(a) of the Act, as amended by Public
Act 99-38, provides, in relevant 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-33, inclusive";
WHEREAS, Section 4-177(c) of the Connecticut General Statutes
provides, in part, that "nless precluded by law, a contested
case may be resolved by . . . consent order";
WHEREAS, F1 Trading.com agrees that the Notice may be used in
construing the terms of this Consent Order;
WHEREAS, F1 Trading.com and the Commissioner now desire to
resolve the matters alleged in the Notice, without the need for
further administrative proceedings, and agree to the language in
this Consent Order.
CONSENT TO WAIVER OF PROCEDURAL RIGHTS
WHEREAS, F1 Trading.com, through its execution of this Consent
Order, voluntarily waives the following rights:
1. To be afforded an opportunity for a hearing within the
meaning of Sections 36b-15(f), 36b-27(a), 36b-27(d)(2),
and 4-177c(a) of the Connecticut General Statutes;
2. To present evidence and argument and to otherwise avail
itself of Sections 36b-15(f), 36b-27(a), 36b-27(d)(2),
and 4-177c(a) of the Connecticut General Statutes;
3. To present its position in a hearing in which it is
represented by counsel;
4. To have a written record of the hearing made and a
written decision issued by a hearing officer; and
5. To seek judicial review of, or otherwise challenge or
contest the matters described herein, including the
validity of this Consent Order.
ACKNOWLEDGEMENT OF THE ENTRY OF FINDINGS
WHEREAS, F1 Trading.com, through its execution of this Consent
Order, and without admitting or denying the Commissioner's allegations
of violations, or admitting or denying the Commissioner's findings,
acknowledges those findings and their entry by the Commissioner below:
1. The entry of this Consent Order 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 the Act;
2. F1 Trading.com wilfully violated Section 36b-6(a) of the
Act by transacting business in Connecticut absent
registration as a broker-dealer in Connecticut. Such
wilful violation forms the basis for the denial of
registration as a broker-dealer pursuant to Section
36b-15(a)(2)(B) of the Act, as amended by Public Act
99-38, an order to cease and desist pursuant to Section
36b-27(a) of the Act, as amended, and an order imposing
a fine pursuant to Section 36b-27(d) of the Act, as
amended; and
3. F1 Trading.com wilfully violated Section 36b-23 of the
Act, as amended by Public Act 99-38, by filing a document
with the Commissioner which was, at the time it was made
and in light of the circumstances under which it was made,
false or misleading in a material respect. Such wilful
violation forms the basis for the denial of registration
as a broker-dealer pursuant to Section 36b-15(a)(2)(B)
of the Act, an order to cease and desist pursuant to
Section 36b-27(a) of the Act, as amended, and an order
imposing a fine pursuant to Section 36b-27(d) of the Act,
as amended.
CONSENT TO ENTRY OF SANCTIONS
WHEREAS, F1 Trading.com, through its execution of this Consent
Order, consents to the Commissioner's issuance of an Order imposing
on it the following sanctions:
1. No later than the date this Order is entered by the
Commissioner, F1 Trading.com shall remit to the Department
of Banking, by certified check made payable to "Treasurer,
State of Connecticut", the sum of Seven Thousand Five
Hundred Dollars ($7,500); and
2. No later than the date this Order is entered by the
Commissioner, F1 Trading.com shall withdraw its application
for registration as a broker-dealer, without prejudice,
with leave to re-apply after a period of five years has
elapsed following the entrance of this Order.
AND WHEREAS, F1 Trading.com specifically assures the Commissioner
that none of the violations alleged in the Notice shall occur in the
future.
CONSENT ORDER
NOW THEREFORE, the Commissioner enters the following:
1. The Findings and Sanctions set forth above be and are
hereby entered;
2. Entry of this Consent Order by the Commissioner is without
prejudice to the right of the Commissioner to take
enforcement against F1 Trading.com based upon a violation
of this Consent Order or the matters underlying its entry,
if the Commissioner determines that compliance with the
terms herein is not being observed or if any
representations made by F1 Trading.com and reflected
herein are subsequently discovered to be untrue; and
3. This Consent Order shall become final when issued.
________/s/_________
John P. Burke
Banking Commissioner
So ordered at Hartford, Connecticut
this 13th day of February 2001.
CONSENT TO ENTRY OF ORDER
I, Charles Vaccaro, state on behalf of F1 Trading.com, that I have
read the foregoing Consent Order; that I know and fully understand
its contents; that I am authorized to execute this Consent Order on
behalf of F1 Trading.com; that F1 Trading.com agrees freely and
without threat or coercion of any kind to comply with the terms and
conditions stated herein; and that F1 Trading.com consents to the
issuance of this Consent Order, expressly waiving any right to a
hearing on the matters described herein.
_______/s/_______
On this 31st day of January 2001, personally appeared Charles
Vaccaro, signer of the foregoing Consent Order, who, being duly
sworn, acknowledged the same to be his/her free act and deed,
before me.
________/s/___________
Notary Public
My Commission Expires: