On December 19, 2014, the Securities Division of the North Carolina Department of the Secretary of State entered into a Consent Order with respondents, Senior Veterans Council, LLC, and David L. Cole. Respondent Senior Veterans Council, LLC, through its agent, Respondent David L. Cole improperly held itself out to the North Carolina investing public as an investment adviser licensed to legally engage in investment advisory business. The Consent Order also found that respondents engaged in the business of providing investment advisory services in North Carolina without being properly registered to do so under the North Carolina Investment Advisers Act. To read the Consent Order, please click here

On November 05, 2014, the Securities Division of the North Carolina Department of the Secretary of State issued a Temporary Order to Cease and Desist to Stark Innovations, L.L.C., and David Alan Topping, d/b/a “Stark Investments, Inc.”. Stark Innovations, L.L.C., and David Alan Topping, d/b/a “Stark Investments, Inc.” were ordered to cease and desist from offering for sale, soliciting offers to purchase or selling, in or from North Carolina, any securities unless and until such securities have been registered and Stark Innovations, L.L.C., and David Alan Topping, d/b/a “Stark Investments, Inc.” become registered as a dealer or salesman of securities. The Temporary Order to Cease and Desist found that Stark Innovations, L.L.C., and David Alan Topping, d/b/a “Stark Investments, Inc.” offered for sale as investment opportunities certain securities in the form of promissory notes, whereby investors could expect an interest return based on increased revenue generated from international trade; and that this activity violated the North Carolina Securities Act. The Temporary Order to Cease and Desist gives Respondents 30 days in which to request a hearing. If no such request is made during that time, the Temporary Order to Cease and Desist shall become final. Click here to view the Temporary Order. 

On 21 May 2014, the Securities Division of the North Carolina Department of the Secretary of State, with the consent of Respondents, issued a Final Consent Order against Respondents Empowered Investor Incorporated, James Daryl Upham, and Thomas Cowart Goolsby, based on findings of violations of the North Carolina Investment Advisers Act by the Respondents in soliciting advisory clients and in the management of their advisory clients’ accounts. The Final Order revokes the investment adviser registration of Empowered Investor Incorporated, and the registrations as investment adviser representatives of Upham and Goolsby. The Respondents are ordered to cease and desist from engaging in the securities or financial services business and from transacting any business as an investment adviser, investment adviser representative, or securities dealer or salesman. In addition, the Order prohibits Respondents for ten years from seeking registration as an investment adviser or investment adviser representative pursuant to N.C.G.S. Chapter 78C or as a dealer or salesman pursuant to N.C.G.S. Chapter 78A. Click here to view the Final Order.