The Department of Banking News Bulletin

Bulletin # 1982
Week Ending February 15, 2002

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, Commissioner of Banking, 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.

BRANCH ACTIVITY
State Bank Activity

Section 36a-145 of the Connecticut General Statutes requires that each application for a branch, or for a limited branch at which loans will be made, be accompanied by a plan detailing how adequate services to meet the banking needs of all community residents will be provided. Plans are submitted when such applications are filed and are available for public inspection and comment at this Department for a period of 30 days. Questions concerning branch activity should be directed to the Bank Examination Division, (860) 240-8180.
Note: dates are listed in month/day/year format.

MONEY ORDER AND TRAVELERS CHECK LICENSE ACTIVITY

On February 15, 2002, pursuant to Section 36a-600 of the Connecticut General Statutes, as amended by Public Act 01-56, Boby Express of New York Inc., received approval to engage in the business of money transmission.

On February 15, 2002, pursuant to Section 36a-600 of the Connecticut General Statutes, as amended by Public Act 01-56, U.S. Money Express Co., received approval to engage in the business of money transmission.

CONSUMER CREDIT DIVISION ACTIVITY
Administrative Orders

On February 8, 2002, the Commissioner issued a Notice of Intent to Refuse to Renew First Mortgage Lender/Broker Licenses and Notice of Right to Hearing against Foundation Funding Group Inc., d/b/a GreatStone Mortgage located at 3627 West Waters Avenue, Suite 800, Tampa, Florida. The agency's action was based on the fact that the entity failed to file a new bond or a replacement bond with the Commissioner as required by Section 36a-492 of the Connecticut General Statutes.

SECURITIES AND BUSINESS INVESTMENTS DIVISION ACTIVITY
Weeden & Co., L.P.  Assessed $1,850
for Investment Advisory Notice Filing Delinquency

On February 13, 2002, the Commissioner executed a Stipulation and Agreement (No. ST-02-6431-S) with respect to Weeden & Co., L.P., an applicant for investment adviser registration under the Connecticut Uniform Securities Act. The firm, which is located at 145 Mason Street, Greenwich, Connecticut, deregistered with the Securities and Exchange Commission in June 2001. The Stipulation and Agreement alleged that from January 20, 2000 until March 29, 2001, when a notice filing was made with the Department, the firm had failed to make the investment advisory notice filing required of SEC-registered investment advisers under Section 36b-6(e) of the Connecticut Uniform Securities Act.

The Stipulation and Agreement assessed the firm $1,850. Of that amount, $1,500 constituted an administrative fine and $350 constituted reimbursement for past due notice filing fees for calendar years 2000 and 2001.

Weeden & Co., L.P. became registered as an investment adviser on February 13, 2002. On the same day, Robert Angelo Cervoni became registered as an investment adviser agent of the firm.