DOB: News Bulletin 2139 - February 18, 2005

The Department of Banking News Bulletin 

Bulletin # 2139
Week Ending February 18, 2005

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, Banking Commissioner, 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.


SECURITIES AND BUSINESS INVESTMENTS DIVISION ACTIVITY
Broker-dealer Fined $1,500 For Failing to Notify Clients of Branch Closure

On February 14, 2005, the Commissioner entered into a Stipulation and Agreement with Lincoln Financial Advisors Corporation, a registered broker-dealer having its principal office at 1300 South Clinton Street, Suite 150, Fort Wayne, Indiana. The Stipulation and Agreement alleged that the firm failed to give affected customers and clients notice that the firm's branch office at 500 East Main Street, Suite 316, Branford, Connecticut had closed. Section 36b-6(f) of the Connecticut Uniform Securities Act requires that brokerage firms advise customers and clients of branch closures and explain the procedures for maintaining or transferring accounts or obtaining delivery of customer funds or securities.

Pursuant to the Stipulation and Agreement, the firm agreed to 1) mail each affected customer a copy of the Stipulation and Agreement, together with the notice required by Section 36b-6(f) of the Act; and 2) remit a $1,500 fine to the department.

CHECK CASHING SERVICE LICENSE ACTIVITY

On February 22, 2005, pursuant to Section 36a-581 of the Connecticut General Statutes, Brian Kish Enterprises LLC d/b/a United Check Cashing received approval to operate check cashing service general facilities at 3851 Main Street, Bridgeport, Connecticut, and 757 Wolcott Street, Waterbury, Connecticut.

Dated: Wednesday, February 23, 2005

John P. Burke
Commissioner