DOB: News Bulletin 2051 - June 13, 2003

The Department of Banking News Bulletin 

Bulletin # 2051
Week Ending June 13, 2003

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) 240-8183.
Note: dates are listed in month/day/year format.

Date Bank Location Activity
06/10/2003 Union Savings Bank
Danbury
29 Main Street
Bridgewater, CT  06752
filed
06/11/2003 Liberty Bank
Middletown
859 Boston Post Road
Madison, CT  06443
approved

MONEY ORDER AND TRAVELERS CHECK LICENSE ACTIVITY

On June 9, 2003, pursuant to Section 36a-600 of the Connecticut General Statutes, Columbus Bank & Trust Company, Columbus, Georgia, received approval to issue Connecticut payment instruments that are electronic payment instruments.

SECURITIES AND BUSINESS INVESTMENTS DIVISION ACTIVITY
Enfield Man Barred for Two Years From Conducting Securities Business
in Connecticut; Ordered to Cease and Desist From Regulatory Violations;
Assessed $1,000

On June 10, 2003, the Commissioner entered a Consent Order with respect to James P. Dooley of Enfield, Connecticut. The Consent Order alleged that, from September 1999 through November 1999, respondent Dooley offered and sold unregistered non-exempt securities in the form of payphones and payphone service contracts of American Tele-communications Company, Inc. f/k/a ATC, Inc. and Alpha Telcom, Inc. a/k/a Alpha Tel-Com, Inc., respectively, in violation of Section 36b-16 of the Connecticut Uniform Securities Act. The Consent Order also alleged that, in so doing, respondent Dooley transacted business as an unregistered agent of issuer in contravention of Section 36b-6(a) of the Act.

The Consent Order barred respondent Dooley for two years from transacting business in or from Connecticut as a broker-dealer, investment adviser, agent of issuer, broker-dealer agent or investment adviser agent. In addition, the Consent Order mandated that respondent Dooley pay $1,000 to the department, $500 of which constituted an administrative fine and $500 of which represented reimbursement for agency investigative costs. The Consent Order also directed the respondent to cease and desist from regulatory violations.

Dated: Tuesday, June 17, 2003

John P. Burke
Commissioner