DOB: News Bulletin 1965 - October 19, 2001

The Department of Banking News Bulletin 

 Bulletin # 1965
Week Ending October 19, 2001

This bulletin constitutes the only official notification you will receive from this office concerning any of the following applications. Any observations you may have are solicited. Any comments should be in writing to John P. Burke, Commissioner of Banking, at the Connecticut Department of Banking, 260 Constitution Plaza, Hartford, CT 06103-1800 or via E-mail to john.burke@ct.gov. Written comments will be considered only if they are received within ten days from the date of this bulletin.


STATE BANK ACTIVITY
Branch Activity

Section 36a-145 of the Connecticut General Statutes requires that each application for a branch, or for a limited branch at which loans will be made, be accompanied by a plan detailing how adequate services to meet the banking needs of all community residents will be provided. Plans are submitted when such applications are filed and are available for public inspection and comment at this Department for a period of 30 days. Questions concerning branch activity should be directed to the Bank Examination Division, (860) 240-8180.
Note: dates are listed in month/day/year format.

Date Bank Location Activity
10/22/01 Thomaston Savings Bank
Thomaston
FROM: 1605-5 Watertown Ave.
          Waterbury, CT 06708
TO:     985 Watertown Ave.
          Waterbury, CT 06708
relocation
effective
date
10/22/01 Ridgefield Bank
Ridgefield
506 Westport Avenue
Norwalk, CT 06851
opening
date

MONEY ORDER AND TRAVELERS CHECK LICENSE ACTIVITY

On October 15, 2001, pursuant to Section 36a-600 of the Connecticut General Statutes, as amended by Public Act 01-56, Sigue Corporation applied for approval to engage in the business of money transmission.   

SECURITIES AND BUSINESS INVESTMENTS DIVISION ACTIVITY
Broker-dealer Agent Ordered to Cease and Desist from
Regulatory Violations;
Fined $500; Securities Activities Restricted

On August 26, 2001, the Commissioner entered a Consent Order with respect to Dennis William Ryan, a broker-dealer agent of Delta Asset Management Company, Inc. The Consent Order alleged that Ryan violated Section 36b-6(a) of the Connecticut Uniform Securities Act by attempting to effect transactions in Connecticut while his registration as an agent was pending. The Consent Order fined Ryan $500 and directed him to cease and desist from regulatory violations. In addition, the Consent Order required that respondent Ryan complete the Regulatory Element of the Securities Industry Continuing Education Program, a computer-based securities training session administered by the NASD, within 90 days. Respondent Ryan's securities business was also restricted to transactions in the securities of investment companies regulated under the Investment Company Act of 1940; governmental securities; exchange-listed options; and securities listed on the New York Stock Exchange, the American Stock Exchange and the National Market System of NASDAQ. The Consent Order also prohibited respondent Ryan from selling limited partnership interests or real estate investment trusts unless those investments were exchange listed or traded on the National Market System of NASDAQ.

Dated: Tuesday, October 23, 2001

John P. Burke
Banking Commissioner