DOB: News Bulletin 2115 - September 3, 2004

The Department of Banking News Bulletin 

 Bulletin # 2115
Week Ending September 3, 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.


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 Financial Institutions Division, (860) 240-8180.

Date Bank Location Activity
8/27/04 Connecticut River Community
  Bank, Wethersfield
64 Oak Street
Glastonbury, CT  06033
filed
9/01/04 Naugatuck Savings Bank
Naugatuck
910 Wolcott Street
Waterbury, CT  06705
opening
date
9/03/04 Citizens Bank of Connecticut
New London
36 Fenn Road
Newington, CT  06111
filed
9/03/04 Citizens Bank of Connecticut
New London
354 Broad Street
Manchester, CT  06040
filed
9/03/04 Citizens Bank of Connecticut
New London
410 Queen Street
Price Chopper Supermarket
Southington, CT  06489
filed
9/03/04 Citizens Bank of Connecticut
New London
943 Wolcott Street
Price Chopper Supermarket
Waterbury, CT  06705
filed
9/03/04 Citizens Bank of Connecticut
New London
121 Farmington Avenue
Price Chopper Supermarket
Bristol, CT  06010
filed
9/03/04 Citizens Bank of Connecticut
New London
1780 Silas Deane Highway
Rocky Hill, CT  06067
filed
9/03/04 Imperial Capital Bank
La Jolla, CA
* Branford Theatre Building
   19 South Main St, 2nd fl
   Branford, CT  06405
filed
* Limited Branch

SECURITIES AND BUSINESS INVESTMENTS DIVISION ACTIVITY
Consent Order Conditioning Registration as an Investment Adviser Issued

On September 1, 2004, the Commissioner entered a Consent Order Conditioning Registration as an Investment Adviser with respect to Christopher L. Bakowski d/b/a CLB Financial, an applicant for investment adviser registration located at 335 Rocky Rapids Road, Stamford, Connecticut. The Consent Order was based on allegations that, from at least July 1997, Christopher L. Bakowski transacted business as an investment adviser absent registration as such under the Connecticut Uniform Securities Act. The Consent Order required that Christopher L. Bakowski 1) cease and desist from engaging in violative conduct; 2) obtain a written advisory interpretation from the department prior to relying on any exemption from investment adviser registration or any definitional exclusion; 3) provide clients with written notice of the Consent Order within 30 days; 4) file quarterly reports concerning any securities-related complaints involving Connecticut residents for two years; and 5) remit $11,050 to the department. Of that amount, $10,000 constituted an administrative fine for failing to register as an investment adviser from 1997 to 2003, and $1,050 represented reimbursement for past due registration fees.

EFFECTIVE REGULATIONS

Effective August 31, 2004, the Department adopted new regulations concerning administrative procedures. 

Dated: Wednesday, September 8, 2004

John P. Burke
Commissioner