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 Howard F. Pitkin, Banking Commissioner, at the Connecticut Department of Banking, 260 Constitution Plaza, Hartford, CT 06103-1800 or via E-mail. Written comments will be considered only if they are received within ten days from the date of this bulletin.

On April 12, 2010, pursuant to Section 36a-463b of the Connecticut General Statutes, Metropolitan District Employees Credit Union, Inc. filed an application to relocate its main office from 555 Main Street, Hartford, Connecticut to 250 Murphy Road, Hartford, Connecticut.

On April 12, 2010, the Banking Commissioner entered a Consent Order with respect to CRF Group, LLC, a Connecticut limited liability company located at 335 Kettletown Road, Southbury, Connecticut and its managing member, Eric Kipperman.  The Consent Order alleged that, from May 2008 through December 2008, CRF Group, LLC and Eric Kipperman sold unregistered 30 Day Currency Trading Contracts issued by CRE Capital Corporation in violation of Section 36b-16 of the Connecticut Uniform Securities Act.  The Consent Order also alleged that Eric Kipperman was not registered as an agent under Section 36b-6(a) of the Act nor was CRF Group, LLC registered as a broker-dealer under Section 36b-6(a) of the Act.  CRE Capital Corporation is a Georgia corporation located at 3700 Manswell Road, Suite 220, Alpharetta, Georgia.  On January 15, 2009, the United States District Court for the Northern District of Georgia, Atlanta Division, had entered an Order Granting Permanent Injunction, Freezing Assets, Appointing a Receiver and Ordering Other Ancillary Relief against CRE Capital Corporation.

The Consent Order barred Eric Kipperman from transacting business in or from Connecticut as a broker-dealer, agent, investment adviser or investment adviser agent for ten years.  No fine was imposed against Eric Kipperman due to Eric Kipperman’s demonstrated inability to pay.  The Consent Order also directed Eric Kipperman and CRF Group, LLC to cease and desist from regulatory violations.  In addition, the Consent Order provided that, if Eric Kipperman or CRF Group, LLC recovered any funds as a result of the Georgia receivership proceeding involving CRE Capital Corporation or from any other source relating to the 30 Day Currency Trading Contracts, Eric Kipperman would notify the agency and, in a plan approved by the Division Director, distribute those funds pro rata to each Connecticut investor to whom Eric Kipperman and/or CRF Group, LLC sold 30 Day Currency Trading Contracts and who sustained investment losses.

       Dated:  Tuesday, April 20, 2010