The Department of Banking News Bulletin
Bulletin # 2109
Week Ending July 23, 2004
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.
WITHDRAWAL OF APPLICATION TO OPERATE
CHECK CASHING SERVICE GENERAL FACILITIES
On July 13, 2004, the application filed by Wal-Mart Stores East, LP, pursuant to Section 36a-581 of the Connecticut General Statutes, to operate a general facility to engage in the business of cashing checks, drafts and money orders at the following locations, was withdrawn:
| 420 Buckland Hills Dr, Manchester 06040 625 School St, Putnam 06260 474 Boston Post Rd, No. Windham 06256 970 Torringford St, Torrington 06790 465 Bridgeport Ave, Shelton 06484 220 Salem Turnpike, Norwich 06360 150 Gold Star Highway, Groton 06340 120 Commercial Parkway, Branford 06405 69 Prospect Hill Rd, East Windsor 06088 1100 New Haven Rd, Naugatuck 06770 161 Berlin Rd, Cromwell 06416 155 Waterford Prkwy No., Waterford 06385 1092 North Colony Rd, Wallingford 06492 655 Farmington Ave, New Britain 06053 150 Barnum Ave Cutoff, Stratford 06614 |
1400 Farmington Ave, Bristol 06010 180 River Rad, Lisbon 06351 656 New Haven Ave, Derby 06418 235 Queen St, Southington 06489 665 Boston Post Rd, Old Saybrook 06475 255 West Main St, Avon 06001 80 Town Line Rd, Rocky Hill 06067 650 Main Ave, Norwalk 06851 3164 Berlin Turnpike, Newington 06111 67 Newtown Rd, Danbury 06810 900 Boston Post Rd, Guilford 06437 2300 Dixwell Ave, Hamden 06514 164 Danbury Rd, New Milford 06776 680 Connecticut Ave, So. Norwalk 06854 910 Wolcott St, Waterbury 06705 |
NOTIFICATION OF SPECIAL MEETING
Pursuant to Sections 1-225 and 36a-70(i) of the Connecticut General Statutes, on August 2, 2004, a special meeting will be held for the purpose of voting on the application of the organizers of Darien Rowayton Bank, Darien, Connecticut, to organize a bank and trust company. The meeting is scheduled to be held at 10:00 a.m., at the Department of Banking, Room 50, 260 Constitution Plaza, Hartford, Connecticut.
NAME CHANGE APPROVAL
On July 20, 2004, pursuant to Section 36a-82 of the Connecticut General Statutes, approval was granted to Dime Savings Bank of Norwich to change its name to Dime Bank.
SECURITIES AND BUSINESS INVESTMENTS DIVISION ACTIVITY
Broker-Dealer Assessed $3,500 for Unregistered Broker-dealer Activity
On July 23, 2004, the Commissioner entered into a Stipulation and Agreement with Rodman & Renshaw, LLC, a broker-dealer located at 330 Madison Avenue, 27th Floor, New York, New York. The Stipulation and Agreement alleged that 1) in or about January 2004, the firm effected sales of Cortex Pharmaceuticals, Inc. securities in a private placement to an individual located in Connecticut; 2) at the time of the sale, the firm was not registered as a broker-dealer under the Connecticut Uniform Securities Act; and 3) because the Connecticut securities activities conducted by the firm did not involve the effecting of transactions exclusively with or through the institutions described in Section 36b-3(5)(D) of the Act, the exclusion from the definition of "broker-dealer" in Section 36b-3(5)(D) of the Act was not available for transactions in the securities of Cortex Pharmaceuticals, Inc. Pursuant to the Stipulation and Agreement, the firm agreed to pay a $3,000 fine to the department and reimburse the agency $500 for the agency's investigative costs. In addition, the firm agreed to review, revise and implement supervisory and compliance procedures designed to prevent and detect any future regulatory violations. The firm became registered as a broker-dealer under the Act on July 23, 2004.
John P. Burke
Commissioner