The Department of Banking News Bulletin
Bulletin # 2869 - Week Ending February 15, 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.
SECURITIES AND BUSINESS INVESTMENTS DIVISION ACTIVITY
Stipulation and Agreement
On February 15, 2019, the Banking Commissioner entered into a Stipulation and Agreement(No. ST-19-8479-S) with Silver Pine Capital, LLC, an applicant for investment adviser registration located at 70 North Street, Suite 2A, Medfield, Massachusetts 02052. The firm had previously been registered as an investment adviser in Connecticut. In conjunction with its reapplication, the firm disclosed that, from 2018 forward, the number of Connecticut clients to whom it had rendered investment advisory services exceeded the ceiling for claiming an exemption from registration under Section 36b-6(e) of the Connecticut Uniform Securities Act.
In resolution of the matter, the firm agreed to comply with all statutory requirements governing investment advisers and their operations and to pay $1,265 to the agency. Of that amount, $1,000 constituted an administrative penalty and $265 represented reimbursement for past due registration fees for the firm and its investment adviser agents.
Silver Pine Capital, LLC became registered as an investment adviser in Connecticut on February 15, 2019.