DOB: News Bulletin 2098 - May 7, 2004

The Department of Banking News Bulletin

Bulletin # 2098
Week Ending May 7, 2004

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 ACTIVITY
Branch Activity

Date Credit Union Location Activity
5/13/04 Mutual Security Credit Union
Shelter Rock Lane
Danbury, CT  06810
closing
date

MONEY TRANSMITTER LICENSE ACTIVITY

On May 4, 2004, pursuant to Section 36a-598 of the Connecticut General Statutes, IBERO AMERICA TRAVEL CORP, Morris, New Jersey, filed an application to engage in the business of money transmission.

NAME CHANGE

On May 4, 2004, pursuant to Section 36a-82 of the Connecticut General Statutes, Aeltus Trust Company filed an application to change its name to ING Investment Trust Co. Written objections to the application may be made for a period of 30 days from the date of publication of this bulletin on the grounds that the name selected will tend to confuse the public.

SECURITIES AND BUSINESS INVESTMENTS DIVISION ACTIVITY
Broker-dealer Registration Denied

On April 30, 2004, the Commissioner entered an Order Denying Registration as Broker-dealer against Harrison Douglas, Inc. of 5303 E. Evans Avenue, Suite 201, Denver, Colorado. In denying the firmís registration, the Commissioner found that the firm and its president, Douglas Wayne Schriner, had been the subject of the following NASD sanctions: 1) a July 7, 2000 fine of $5,000 imposed against the firm for failing to satisfy minimum net capital requirements; 2) a June 25, 2001 censure and fine imposed against the firm and Douglas Wayne Schriner for selling shares of an IPO to residents of a state where the offering was not registered, completing a false offering questionnaire for the lead underwriter and failing to promptly amend Forms BD and U-4 to reflect certain disciplinary items; and 3) a September 17, 2003 censure and fine imposed against the firm and Douglas Wayne Schriner for failing to exercise adequate supervisory controls by permitting Douglas Schriner to perform duties requiring registration while his registration was inactive. The denial order had been preceded by March 26, 2004 Notice of Intent to Deny Registration as Broker-dealer based upon the same facts. Harrison Douglas, Inc. did not appear or contest the denial of its registration.

Dated: Tuesday, May 11, 2004

John P. Burke
Commissioner