Bulletin # 2446
Week Ending January 7, 2011
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.
Branch Activity
Date | Bank | Location | Activity |
---|---|---|---|
01/06/11 |
NewAlliance Bank
New Haven |
2386 Summer Street
Stamford, CT 06905 |
approved |
CREDIT UNION ACTIVITY
Branch Activity
Date | Credit Union | Location | Activity |
---|---|---|---|
12/23/10 |
Sikorsky Financial Credit
Union, Inc., Stratford |
Seymour High School
2 Botsford Road
Seymour, CT 06483 |
filed |
01/06/11 |
Connex Credit Union
North Haven |
FROM: 227 Church Street
New Haven, Ct 06510
TO: 2 Whitney Avenue
New Haven, CT 06510 |
approved
to relocate |
CONSUMER CREDIT DIVISION ACTIVITY
Check Cashing Service License Activity
Date | Check Casher | Location | Activity |
---|---|---|---|
01/07/11 |
Wilson Travel and Grocery, LLC |
170 Riverside Avenue
Bristol, CT 06010 |
approved |
Consent Orders
On December 29, 2010, the Banking Commissioner entered a Consent Order with respect to Wachovia Securities, LLC, now known as Wells Fargo Advisors, LLC, a Connecticut-registered broker-dealer having its principal office at One North Jefferson Avenue, St. Louis, Missouri. The Consent Order alleged that the firm failed to establish, enforce and maintain an adequate supervisory system in overseeing the activities of Daniel Charles Allegrini (CRD No. 2962754), an ex-broker-dealer agent of the firm. According to the Consent Order, Allegrini issued, and recommended to a certain Wachovia Securities, LLC client, unregistered promissory notes that were not suitable for the client based on the client’s financial situation and needs. The Consent Order added that Allegrini acted outside the regular course or scope of his employment with the firm in selling the notes and in receiving compensation for referring brokerage and bank clients to an associate for the purpose of investing in other interest-paying promissory notes. Allegrini allegedly did not provide the firm with prior written notice of such activities, nor were the transactions recorded on the firm’s books and records.
The Consent Order fined the firm $75,000 and directed it to cease and desist from regulatory violations.