DOB: Sharma, Kautilya - REV Agent

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IN THE MATTER OF:

KAUTILYA SHARMA
a/k/a TONY SHARMA
CRD NO. 2124304

    ("Respondent")

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ORDER REVOKING REGISTRATION
AS AGENT

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 . . . (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 and to the employer . . . if such . . . registrant is an agent . . . , (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 Section 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 Agent, 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 an agent in Connecticut subject to his right to request a hearing, and that if Respondent failed to request a hearing within 14 days following his receipt of the Notice, the Commissioner shall issue an order revoking his registration as an agent in Connecticut;

WHEREAS, on September 7, 2005, the Notice mailed to Respondent at 7363 Sedona Way, Delray Beach, Florida, was returned to the Department of Banking marked “Returned to Sender – Unclaimed;

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 was convicted of a felony involving the securities business, which forms a basis for the revocation of Respondent’s registration as an agent 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 his amended application for registration, 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 an agent 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 an agent 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 Kautilya Sharma a/k/a Tony Sharma as an agent 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.


Kautilya Sharma               Certified Mail No. 7099 3400 0009 4782 2444
a/k/a Tony Sharma
7363 Sedona Way
Delray Beach, FL 33446


Administrative Orders and Settlements