The Department of Banking News Bulletin
Bulletin # 2864 - Week Ending January 11, 2019
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 Jorge L. Perez, Banking Commissioner, Department of Banking, 260 Constitution Plaza, Hartford, CT 06103-1800. Written comments will be considered only if they are received within ten business days from the date of this bulletin.
STATE BANK ACTIVITY
Section 36a-145 of the Connecticut General Statutes requires certain applications for a branch or limited branch at which loans will be made, address how the establishment of the branch will be consistent with safe and sound banking practices and promote the public convenience and advantage. Plans are submitted when such applications are filed and are available for public inspection and comment at the Department for a period of 30 days. Questions concerning branch activity should be directed to the Financial Institutions Division, (860) 240-8180.
DATE: January 9, 2019
BANK: United Bank, Hartford
LOCATION: 6958 Aviation Blvd., Suite 1A, Glen Burnie, MD 21061
ACTIVITY-BRANCH TYPE: Application for Limited Branch Withdrawn
Main Office Relocation
On January 11, 2019, pursuant to Section 36a-81 of the Connecticut General Statutes, the Commissioner approved the application by Chelsea Groton Bank to relocate its main office from One Franklin Square, Norwich, Connecticut to 904 Poquonnock Road, Groton, Connecticut.
CONSUMER CREDIT DIVISION ACTIVITYConsent Order
SECURITIES AND BUSINESS INVESTMENTS DIVISION ACTIVITY
Quarve Associates, LLC (CRD No. 112160) Fined $7,500 for Financial Reporting Violations
On January 11, 2019, the Banking Commissioner entered a Consent Order (No. CO-19-8470-S) with respect to Quarve Associates, LLC, a Connecticut-registered investment adviser located One Atlantic Street, Stamford, Connecticut 06901. The Consent Order alleged that the firm violated Section 36b-31-14d(a) of the Regulations under the Connecticut Uniform Securities Act by failing to timely file audited reports of its financial condition on more than one occasion. Such reports are required of investment advisers having custody of client funds and securities. The Consent Order fined the firm $7,500 and directed it to cease and desist from regulatory violations.