DOB: News Bulletin 1991 - April 19, 2002

The Department of Banking News Bulletin 

Bulletin # 1991
Week Ending April 19, 2002

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.


CREDIT UNION DIVISION ACTIVITY
Merger

On April 15, 2002, pursuant to Section 36a-470 of the Connecticut General Statutes, approval was granted to Connecticut Family Credit Union, Inc., Bristol, to merge with and into First Bristol Federal Credit Union, Bristol.


Subsidiary Office

Date Credit Union Location Activity
4/10/02 Mutual Security Credit Union, Inc.
Wilton
97 Newtown Road
Danbury, CT 06810
filed

SECURITIES AND BUSINESS INVESTMENTS DIVISION ACTIVITY
Investment Adviser Assessed $2,100 for Notice Filing Lapse

On April 15, 2002, the Commissioner entered into a Stipulation and Agreement with Target Holdings Corp. d/b/a Target Investors of 15 River Road, Suite 220, Wilton, Connecticut. The firm is an investment adviser registered with the Securities and Exchange Commission.

The Stipulation and Agreement alleged that from 1997 until March 5, 2002, when a notice was filed, the firm failed to make the investment advisory notice filing required by Section 36b-6(e) of the Connecticut Uniform Securities Act and pay the related fees. In entering into the Stipulation and Agreement, the Commissioner acknowledged the firm's representations that the firm's client base was exclusively institutional in nature and that the firm had not been aware of 1997 state law changes requiring the filing of a notice. The Stipulation and Agreement required that the firm pay $2,100 to the department. Of that amount $1,500 constituted an administrative fine and $600 constituted reimbursement for past due notice filing fees.

Dated: Tuesday, April 23, 2002

John P. Burke
Commissioner