DOB: Geek Securities - REV BD

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IN THE MATTER OF:

GEEK SECURITIES, INC.
CRD NO. 14834

    ("Respondent")

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ORDER REVOKING REGISTRATION
AS BROKER-DEALER

DOCKET NO. RCF-2005-7125-S

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, et seq. of the Regulations of Connecticut State Agencies promulgated under the Act (“Regulations”);

WHEREAS, Section 36b-15(a) of the Act provides, in pertinent part, that “[t]he commissioner may by order . . . revoke any registration . . . if the commissioner finds that (1) the order is in the public interest, and (2) the . . . registrant or, in the case of a broker-dealer . . . , any partner, officer, or director, any person occupying a similar status or performing similar functions, or any person directly or indirectly controlling the broker-dealer . . . (B) has wilfully violated or wilfully failed to comply with any provision of sections 36b-2 to 36b-33, inclusive, or . . . any regulation . . . under said sections . . . ; [or] (C) has been convicted, within the past ten years, of any . . . felony, provided any . . . revocation of such registration shall be in accordance with the provisions of section 46a-80”;

WHEREAS, Section 36b-15(f) of the Act provides, in pertinent part, that “[n]o order may be entered under this section . . . without (1) appropriate prior notice to the . . . registrant . . . , (2) opportunity for hearing, and (3) written findings of fact and conclusions of law”;

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-33, inclusive”;

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-33, inclusive”;

WHEREAS, on August 4, 2005, the Commissioner, acting pursuant to Sections 36b-15(a), 36b-15(f), 36b-27(a) and 36b-27(d) of the Act and Section 4-182(c) of the Connecticut General Statutes, issued an Order to Cease and Desist, Notice of Intent to Revoke Registration as Broker-dealer, Notice of Intent to Fine and Notice of Right to Hearing against Respondent (collectively “Notice”), which Notice is incorporated by reference and adopted herein;

WHEREAS, the Notice stated that the Commissioner intended to revoke Respondent’s registration as a broker-dealer in Connecticut subject to its right to request a hearing, and that if Respondent failed to request a hearing within 14 days following its receipt of the Notice, the Commissioner shall issue an order revoking its registration as a broker-dealer in Connecticut;

WHEREAS, on August 15, 2005, the Notice mailed to Respondent at 999 Yamato Road, Suite 100, Boca Raton, Florida, was returned to the Department of Banking marked “Returned to Sender – Not Deliverable as Addressed – Unable to Forward”;

WHEREAS, on September 1, 2005, the Notice was served on the Commissioner, and Notice of Service on the Banking Commissioner dated September 6, 2005, was sent to Respondent, by registered mail, return receipt requested, on September 6, 2005, in accordance with Section 36b-33(g) of the Act;

WHEREAS, Respondent failed to request a hearing within the prescribed time period;

WHEREAS, the Commissioner alleged in the Notice that Respondent’s president and control person, Kautilya Sharma, was convicted within the past ten years of a felony, which forms a basis for the revocation of Respondent’s registration as a broker-dealer in Connecticut pursuant to Section 36b-15(a)(2)(C) of the Act;

AND WHEREAS, the Commissioner alleged in the Notice that Respondent failed to promptly file with the Commissioner a correcting amendment to its amended application for registration as a broker-dealer in Connecticut after information contained therein became inaccurate or incomplete in a material respect, which constitutes a wilful violation of Section 36b-31-14e(a) of the Regulations, and such wilful violation forms a basis for the revocation of Respondent’s registration as a broker-dealer in Connecticut pursuant to Section 36b-15(a)(2)(B) of the Act.

II.  FINDINGS OF FACT AND CONCLUSIONS OF LAW

1. The Commissioner finds that the facts as set forth in paragraphs 7 through 15, inclusive, of the Notice shall constitute findings of fact, and that the statutory and regulatory bases for the revocation of registration as broker-dealer in Connecticut set forth in paragraphs 16 through 20, inclusive, of the Notice shall constitute conclusions of law.
2. The Commissioner finds that this action is necessary and appropriate in the public interest and for the protection of investors and consistent with the purposes fairly intended by the policy and provisions of Sections 36b-2 to 36b-33, inclusive, of the Act.
3. The Commissioner finds that the Notice was given in compliance with Section 36b-15(f) of the Act and Section 4-182(c) of the Connecticut General Statutes.

III.  ORDER

Having read the record, I HEREBY ORDER, pursuant to Sections 36b-15 and 36b-31 of the Act, that:

1. On the date of entry of this Order, the registration of Geek Securities, Inc., as a broker-dealer in Connecticut is hereby REVOKED; and
2. This Order shall become final when entered.

Entered at Hartford, Connecticut
this 9th day of January 2006.               ________/s/_________
                                                      John P. Burke
                                                      Banking Commissioner

This Order was sent by certified mail,
return receipt requested, to Respondent
on January 10, 2006.


Geek Securities, Inc.                    Certified Mail No. 7099 3400 0009 4782 2451
999 Yamato Road, Suite 100
Boca Raton, FL 33431


Administrative Orders and Settlements