Ieq Capital, Llc

Allegations: ON AUGUST 25, 2016 THE STATE OF CALIFORNIA DEPARTMENT OF INSURANCE (THE "DEPARTMENT") ISSUED A STATEMENT OF ISSUES ALLEGING THAT ANDREW VENTURI ("VENTURI") FAILED TO DISCLOSE 2007 AND 2008 MISDEMEANOR CONVICTIONS ON AN APPLICATION WITH THE DEPARTMENT FOR A UNRESTRICTED LICENSE TO ACT AS AN ACCIDENT AND HEALTH AGENT, A LIFE-ONLY AGENT WITH VARIABLE CONTRACTS AUTHORITY IN VIOLATION OF CALIFORNIA INSURANCE CODE SECTIONS 1668(B), 1668(E) AND 1668(H). ON OCTOBER 18, 2016, THE DEPARTMENT ISSUED AN ORDER OF DENIAL OF UNRESTRICTED LICENSE AND FOR ISSUANCE OF RESTRICTED LICENSE AND FOR MONETARY PENALTY. Status: Final Sanction Detail: THE ORDER OF DENIAL WAS ISSUED ON 10/18/2016. THE ORDER OF REVOCATION OF LICENSE WAS ISSUED ON 4/10/2017. THE ORDER OF REVOCATION WAS VACATED BY THE DEPARTMENT ON 5/15/2017 DUE TO MISTAKE AND INADVERTENCE. VENTURI INFORMED THE DEPARTMENT THAT CHECK PAYMENT WAS SENT BY MAIL IN NOVEMBER 2016. Summary: ON APRIL 10, 2017, STATE OF CALIFORNIA DEPARTMENT OF INSURANCE ISSUED IN ORDER OF REVOCATION OF LICENSE FOR FAILURE TO PAY MONETARY PENALTY. VENTURI HAS INFORMED THE DEPARTMENT THAT CHECK PAYMENT WAS SENT BY MAIL IN NOVEMBER 2016. STATE OF CALIFORNIA DEPARTMENT OF INSURANCE ISSUED AN ORDER VACATING ORDER OF SUMMARY REVOCATION ON MAY 15, 2017 STATING, "WHEREAS BY MISTAKE AND INADVERTENCE, AN ORDER IN THE ABOVE ENTITLED MATTER DATED APRIL 10, 2017, REVOKING RESPONDENT'S LICENSE AND LICENSING RIGHTS WAS ISSUED BY THE INSURANCE COMMISSIONER. NOW, THEREFORE, GOOD CAUSE APPEARING, IT IS HEREBY ORDERED THAT SAID ORDER OF REVOCATION OF LICENSE FOR FAILURE TO PAY MONETARY PENALTY BE VACATED AS IF THE SAME HAD NEVER BEEN ISSUED,WITHOUT PREJUDICE TO THE COMMISSIONER. FURTHER, ON JUNE 13, 2017, STATE OF CALIFORNIA DEPARTMENT OF INSURANCE ISSUED AN ORDER REMOVING RESTRICTIONS ON MR. VENTURI'S INSURANCE LICENSE.