On December 19, 2007, pursuant to Section 36a-412(a)(1) of the Connecticut General Statutes, as amended by Public Act 07-14, Capital One, National Association, a national association with its main office located in McLean, Virginia, filed an application for its merger with Superior Savings of New England, National Association, a national association with its main office located in Branford, Connecticut, the resultant bank to be Capital One, National Association.  In connection with the application, Capital One, National Association filed a community reinvestment plan, which is available for public inspection and comment at the Department of Banking for a period of 30 days.

On December 10, 2007, the Commissioner entered an Order to Cease and Desist, Notice of Intent to Fine and Notice of Right to Hearing against 1) Key Resource Group, LLC (“KRG”) of 155 North Market, Suite 900, Wichita, Kansas; 2) Dale C. Lucas, Russell Kilgariff and Michael J. McNaul, managing members and control persons of KRG; and 3) KRG agents Mark T. Duboise of 4676 Lakeview Avenue, Suite 113, Yorba Linda, California; Mike Bay of 39201 Ingraham Street, Building 11, Apartment 111, San Diego, California; George Phillips of 17555 Ventura Boulevard, Suite 200, Encino, California; Greg Hunter of 4676 Lakeview Avenue, Suite 113, Yorba Linda, California; Ronald Folkinga of 2514 East 3810 North, Town Falls, Idaho; and Mark Deaton of 1025 Shoshone Street North, Twin Falls, Idaho.  Duboise had purportedly been the subject of a May 8, 2002 Summary Order to Cease and Desist issued by the Pennsylvania Securities Commission and a January 22, 2003 Summary Order to Cease and Desist entered by the Washington Department of Financial Institutions.

The action alleged that KRG issued securities consisting of fractional, undivided interests in oil and gas rights (the “KRG Interests”) as well as joint venture interests in individual gas and oil development projects (the “Joint Venture Interests”).  The KRG Joint Venture Interests included Pawnee Barber II Joint Venture; Cheyenne 6 Joint Venture #2; Cheyenne 6 Joint Venture #3. Tri-County Joint Venture; Rush County 6 Joint Venture; Heartland Joint Venture; and Heartland #2 Joint Venture.  According to the Order to Cease and Desist and Notice of Intent to Fine, commencing in 2001, the respondents violated Section 36b-16 of the Connecticut Uniform Securities Act by effecting sales of the KRG Interests and the Joint Venture Interests at a time when no securities registration was in effect.  In addition, the action alleged that KRG, Lucas, Kilgariff and McNaul employed, and Duboise, Bay, Phillips, Hunter, Folkinga and Deaton transacted business as, unregistered agents of issuer in contravention of Section 36b-6 of the Connecticut Uniform Securities Act.  The action also alleged that the respondents violated the antifraud prohibition in Section 36b-4(a) of the Act by failing to disclose, in connection with sales of the KRG Interests and the Joint Venture Interests, any financial information about the performance of prior interests in oil and gas rights where KRG was the operator; any risk factors; that none of the agents were registered to sell securities in Connecticut; and that sales agents were paid as much as 50% of the investment amount as a commission, which commission payment had the effect of reducing, by as much as half, the amount of the investor's investment that actually could be used for operational purposes.

The respondents were afforded an opportunity to request a hearing on the Order to Cease and Desist.  A hearing on the Notice of Intent to Fine has been scheduled for February 4, 2008.

On December 18, 2007, the Commissioner entered into a Stipulation and Agreement with HGI Opportunity Fund I, LLC, an issuer of securities located at 999 Waterside Drive, Suite 2300, Norfolk, Virginia.  The Stipulation and Agreement stated that HGI Opportunity Fund I, LLC had advised the department that, on March 13, 2006, it had sold limited liability company interests to a Connecticut resident under Rule 506 of federal Regulation D at a time when no notice filing had been made under Section 36b-21(e) of the Connecticut Uniform Securities Act.  The issuer made a curative state filing on May 25, 2007.  Pursuant to the Stipulation and Agreement, HGI Opportunity Fund I, LLC agreed to pay a $750 fine and to refrain from offering or selling securities in or from Connecticut absent compliance with Section 36b-16 of the Act, including timely compliance with any applicable filing requirements.

On December 18, 2007, the Commissioner entered into a Stipulation and Agreement with Snow Fund One, LLC, an issuer of securities located at 423 Jobs Lane, Water Mill, New York.  The Stipulation and Agreement stated that Snow Fund One, LLC had advised the department that, on February 14, 2006, it had sold limited liability company interests to a Connecticut resident under Rule 506 of federal Regulation D at a time when no notice filing had been made under Section 36b-21(e) of the Connecticut Uniform Securities Act.  The issuer made a curative state filing on July 23, 2007.  Pursuant to the Stipulation and Agreement, Snow Fund One, LLC agreed to pay a $750 fine and to refrain from offering or selling securities in or from Connecticut absent compliance with Section 36b-16 of the Act, including timely compliance with any applicable filing requirements.

       Dated:  Wednesday, December 26, 2007