DOB: News Bulletin 2012 - September 13, 2002

The Department of Banking News Bulletin 

Bulletin # 2012
Week Ending September 13, 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.


BRANCH ACTIVITY
State Bank 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
9/11/02 Dime Savings Bank of Norwich
Norwich
9 Shaw's Cove
New London, CT 06320
approved

CHECK CASHING SERVICE LICENSE ACTIVITY

On September 10, 2002, pursuant to Section 36a-581 of the Connecticut General Statutes, City Check Cashing, Inc. was granted approval to operate a check cashing service general facility at 435 Main Street, Manchester, Connecticut.

SECURITIES FORUM 2002

The Securities and Business Investments Division is sponsoring its 14th annual Securities Forum conference on Monday, October 7, 2002 at the Radisson Hotel and Conference Center in Cromwell, Connecticut.

The conference is an exceptional opportunity for broker-dealers, investment advisers, financial planners, securities and corporate attorneys, bankers, insurance agents, accountants and other financial industry professionals to keep abreast of new and evolving regulatory developments. Securities Forum 2002 features an outstanding agenda, with a choice of nine different panel presentations so participants can structure the day to meet their particular interests.

For program and registration information, please visit the department's web site at www.ct.gov/dob/pages/sf2002.htm or call the department at (860) 240-8170.

SECURITIES AND BUSINESS INVESTMENTS DIVISION ACTIVITY
Broker-dealer Fined $500 for Unregistered Branch Office Activity

On September 9, 2002, the Commissioner entered into a Stipulation and Agreement with Fintegra, LLC, a Connecticut-registered broker-dealer having its principal office at 6120 Earle Brown Drive, Suite 620, Minneapolis, Minnesota. The Stipulation and Agreement alleged that, from approximately October, 2001 forward, the firm transacted business from 132 Grand Street, Waterbury, Connecticut prior to that location being registered as a branch office under the Connecticut Uniform Securities Act.

Pursuant to the Stipulation and Agreement, the firm agreed to pay a $500 fine to the department and to revise and implement supervisory and compliance procedures designed to prevent violations of statutory branch office registration requirements.

Broker-dealer Fined $1,000 for Unregistered Branch Office Activity

On September 11, 2002, the Commissioner entered into a Stipulation and Agreement with Communications Equity Associates LLC, a Connecticut-registered broker-dealer having its principal office at 101 East Kennedy Boulevard, Suite 3300, Tampa, Florida. The Stipulation and Agreement alleged that, from approximately May, 2001 forward, the firm transacted business from One Sound Shore Drive, Suite 203, Greenwich, Connecticut prior to that location being registered as a branch office under the Connecticut Uniform Securities Act.

Pursuant to the Stipulation and Agreement, the firm agreed to pay a $1,000 fine to the department and to revise and implement supervisory and compliance procedures designed to detect violations of Connecticut branch office registration requirements.

CONSUMER CREDIT DIVISION ACTIVITY
Administrative Orders

On September 6, 2002, the Commissioner issued an Order Withdrawing Order of Summary Suspension and Notice of Intent to Revoke First Mortgage Lender/Broker License and Order Withdrawing Notification of Hearing and Designation of Hearing Officer against TCRM Advisors, Inc., 515 Madison Ave, 5th Floor, New York, NY 10022. The withdrawal was based on the fact that the entity has complied with Section 36a-492 of the Connecticut General Statutes by submitting a new surety bond.

On September 12, 2002, the Commissioner issued an Order Withdrawing Order of Summary Suspension and Notice of Intent to Revoke First Mortgage Lender/Broker License and Order Withdrawing Notification of Hearing and Designation of Hearing Officer against Kingsland Funding Corp., 420 Madison Avenue, 16th Floor, New York, NY, 10017. The withdrawal was based on the fact that the entity has complied with Section 36a-492 of the Connecticut General Statutes by submitting a new surety bond.

Dated: Tuesday, September 17, 2002

John P. Burke
Commissioner