To protect the health and safety of the public and our employees, the Department of Banking has limited the number of employees at our office at 260 Constitution Plaza in Hartford. When contacting the Department, please use electronic communication whenever possible. Consumers are encouraged to use our online form for complaints. If you are unsure where to send an inquiry, you may send it to Department.Banking@ct.gov and it will be routed appropriately. Thank you for your patience during this time.

The Department of Banking News Bulletin

Bulletin # 3008 - Week Ending October 15, 2021

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 directed to Jorge L. Perez, Banking Commissioner.  Written comments will be considered only if they are received within ten business days from the date of this bulletin.

STATE BANK ACTIVITY

Acquisition

On October 12, 2021, pursuant to Section 36a-412(a)(1) of the Connecticut General Statutes, Northeast Bank, a Maine-chartered bank headquartered in Portland, Maine, filed an application to acquire a significant part of the assets of UPS Capital Business Credit, a Connecticut uninsured bank, which will be effected in accordance with Section 36a-210(a) of the Connecticut General Statutes. 

SECURITIES AND BUSINESS INVESTMENTS DIVISION ACTIVITY

Davinci Capital Management, Inc. (CRD No. 46897)

On October 12, 2021, the Banking Commissioner entered into a Stipulation and Agreement (No. ST-21-2020799-S) with Davinci Capital Management, Inc., a Connecticut-registered broker-dealer located at 801 Cambridge Street, Cambridge, Massachusetts 02141. The Stipulation and Agreement alleged that from approximately April 2015 through May 2021, the firm transacted business from an unregistered branch office at 662 Wethersfield Avenue, Hartford, Connecticut, in violation of Section 36b-6(d) of the Connecticut Uniform Securities Act.

In resolution of the matter, the firm agreed to refrain from regulatory violations and to pay a $2,500 fine to the department.

Dated:  Tuesday, October 19, 2021


Jorge L. Perez
Banking Commissioner