DOB: News Bulletin 2077 - December 12, 2003

The Department of Banking News Bulletin

Bulletin # 2077
Week Ending December 12, 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) 240-8180.
Note: dates are listed in month/day/year format.

 

Date Bank Location Activity
12/08/03 Rockville Bank
Rockville
159 Merrow Road
Tolland, CT  06084
approved

MONEY TRANSMITTER LICENSE ACTIVITY

On December 10, 2003, pursuant to Section 36a-600 of the Connecticut General Statutes, Monogram Money Services, Inc., Stamford, Connecticut, filed an application to engage in the business of money transmission.

CHECK CASHING SERVICE LICENSE ACTIVITY

On December 5, 2003, the application filed on October 23, 2003 by Naugatuck Pawn & Jewelry to operate a check cashing general facility at 128 Church Street, Naugatuck, Connecticut, was amended to reflect the applicant being Williams' Pawn & Jewelry, LLC d/b/a Naugatuck Pawn & Jewelry.

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

On December 12, 2003, the Commissioner entered into a Stipulation and Agreement with MMC Securities Corp. of 1166 Avenue of the Americas, 22nd Floor, New York, New York. The Stipulation and Agreement alleged that from approximately May, 2003 until September 15, 2003, when its branch office registration became effective, the firm transacted business from 601 Merritt Seven, Norwalk, 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. MMC Securities Corp. is a broker-dealer registered under the Act. In entering into the Stipulation and Agreement, the firm represented that it had implemented revised supervisory and compliance procedures designed to prevent and detect violations of Connecticut branch office registration requirements. The Stipulation and Agreement required that the firm pay a $500 fine to the agency.

Dated: Tuesday, December 16, 2003

John P. Burke
Commissioner