DOB: News Bulletin 2069 - October 17, 2003

The Department of Banking News Bulletin 

Bulletin # 2069
Week Ending October 17, 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.


CHECK CASHING SERVICE LICENSE ACTIVITY

On October 17, 2003, pursuant to Section 36a-581 of the Connecticut General Statutes, Ace Cash Express, Inc. filed an application to operate check cashing service general facilities at 411 Barnum Avenue, Stratford, Connecticut; 649 West Main Street, Waterbury, Connecticut; 90 East Main Street, New Britain, Connecticut; and 593 Farmington Avenue, Hartford, Connecticut.

On October 17, 2003, Ace Cash Express, Inc. surrendered its general facility licenses at the following locations: 90 East Main Street, New Britain, Connecticut and 593 Farmington Avenue, Hartford, Connecticut.

MERGER

On October 9, 2003, pursuant to Section 36a-126(b) of the Connecticut General Statutes, Westport National Bank, a national banking association with its principal office in Connecticut, filed notice of the proposed merger of The Greenwich Bank & Trust Company, a Connecticut bank, with and into Westport National Bank. Westport National Bank intends to change its name upon consummation of the merger to Connecticut Community Bank, National Association, conduct business at its current offices in Connecticut as Westport National Bank, a Division of Connecticut Community Bank, National Association, and conduct business at the current offices of The Greenwich Bank & Trust Company as The Greenwich Bank & Trust Company, a Division of Connecticut Community Bank, National Association.

SECURITIES AND BUSINESS INVESTMENTS DIVISION ACTIVITY
Broker-dealer Fined $3,000 for Transacting Business
from Unregistered Broker-dealer Branch Offices

On October 8, 2003, the Banking Commissioner entered into a Stipulation and Agreement with AFS Brokerage, Inc. of 7840 East Berry Place, Suite 200, Greenwood Village, Colorado. The Stipulation and Agreement alleged that from August 12, 2002 forward, the firm transacted business from 110 Steele Road, West Hartford, Connecticut, 804 Little City Road, Higganum, Connecticut, and 615 West Johnson Avenue, Cheshire, Connecticut, at a time when none of those locations was registered as a branch office under Section 36b-6(d) of the Connecticut Uniform Securities Act. AFS Brokerage, Inc. is a broker-dealer registered under the Act. Pursuant to the Stipulation and Agreement, the firm agreed to pay a $3,000 fine to the agency and to implement revised supervisory and compliance procedures designed to prevent violations of Connecticut's branch office registration requirements.

Broker-dealer Fined $1,500 for Transacting Business
from Unregistered Broker-dealer Branch Office

On October 8, 2003, the Banking Commissioner entered into a Stipulation and Agreement with William Blair & Company, L.L.C. of 222 West Adams Street, Chicago, Illinois. The Stipulation and Agreement alleged that from approximately May 2001 forward, the firm transacted business from 100 Great Meadow Road, Suite 606, Wethersfield, Connecticut, at a time when that location was not registered as a branch office under Section 36b-6(d) of the Connecticut Uniform Securities Act. William Blair & Company, L.L.C. is a broker-dealer registered under the Act. Pursuant to the Stipulation and Agreement, the firm agreed to pay a $1,500 fine to the agency and to implement revised supervisory and compliance procedures designed to prevent violations of Connecticut's branch office registration requirements.

Dated: Tuesday, October 21, 2003

John P. Burke
Commissioner