The Department of Banking News Bulletin
Bulletin # 2381
Week Ending October 9, 2009
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 Howard F. Pitkin, Banking Commissioner, at the Connecticut Department of Banking, 260 Constitution Plaza, Hartford, CT 06103-1800 or via E-mail. 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
Department to Host Securities Forum 2009: Financial Services Reform –
What It Means to You
The State of Connecticut Department of Banking is hosting Securities Forum 2009: Financial Services Reform – What It Means to You on Tuesday, October 20, 2009 at the New Haven Lawn Club in New Haven, Connecticut. The abbreviated program (based upon cost considerations) runs from 12:00 p.m. to 4:00 p.m. The keynote speaker will be Dr. Gary B. Gorton, Frederick Frank Class of 1954 Professor of Management and Finance at the Yale University School of Management.
The program will highlight the Obama Administration’s reform plan and what it affects – risk management, traditional regulators, hedge funds, advisers, mandatory arbitration, derivatives – and more. In addition, the program will include special segments on regulatory updates of interest to investment advisers and broker-dealers. The registration fee (which includes luncheon) is $70 per person, discounted to $60 per person for multiple attendees from the same firm. Don't miss out on this unique opportunity to hear about financial developments from the regulators themselves and to compare notes with other financial services industry professionals. You can download a registration form and read the agenda
on the Department's website.
On October 7, 2009, the Banking Commissioner entered a Consent Order with respect to Randall Bruce Hyten, a sole proprietorship doing business as RH Planning & Advisory. RH Planning & Advisory was previously registered as an investment adviser in the State of New York, and Randall Hyten relocated to Connecticut from New York in 2006. The Consent Order alleged that from 2006 to February 2009, Randall Hyten d/b/a RH Planning & Advisory continued to render investment advisory services from Connecticut to preexisting non-Connecticut clients; that the firm acquired two new non-Connecticut clients during that period; and that the firm did not pursue investment adviser registration under the Connecticut Uniform Securities Act. The Consent Order acknowledged Randall Hyten’s representations that he did not receive advice from an attorney or compliance consultant regarding Connecticut investment adviser registration requirements, and that he had closed his investment advisory practice on March 9, 2009. The Consent Order directed Randall Hyten to refrain from violative conduct and barred him from applying for Connecticut investment adviser registration for five years.
Dated: Wednesday, October 14, 2009
Howard F. Pitkin