The Department of Banking News Bulletin
Bulletin # 2806 - Week Ending December 1, 2017
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 Jorge L. Perez, Banking Commissioner, Department of Banking, 260 Constitution Plaza, Hartford, CT 06103-1800. Written comments will be considered only if they are received within ten days from the date of this bulletin.
STATE BANK ACTIVITY
Branch Activity
Section 361-145 of the Connecticut General Statutes requires certain applications for a branch, of for a limited branch at which loans will be made, address how the establishment of the branch will be consistent with safe and sound banking practices and promote the public convenience and advantage. 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 Financial Institutions Division, (860) 240-8180.
DATE: November 28, 2017
BANK: Bankwell Bank, New Canaan
LOCATION: 1145 High Ridge Road, Stamford, CT 06905
ACTIVITY-BRANCH TYPE: Filed - Full Service Branch
DATE: November 28, 2017
BANK: First County Bank, Stamford
LOCATION: 1312 Post Road, Farifield, CT 06824
ACTIVITY-BRANCH TYPE: Filed - Full Service Branch
SECURITIES AND BUSINESS INVESTMENTS DIVISION ACTIVITY
Advanced Business Banking Solutions LLC – Stipulation and Agreement Executed
On November 27, 2017, the Banking Commissioner entered into a Stipulation and Agreement (No. ST-17-8321-S) with Advanced Business Banking Solutions LLC, a since dissolved Connecticut limited liability company whose purpose was to provide credit card processing services to businesses. The entity was located at 1331 Silas Deane Highway, Suite 202, Wethersfield, Connecticut 06109. The sole managing member of Advanced Business Banking Solutions LLC was John Hamby. The Stipulation and Agreement alleged that in 2011, Advanced Business Banking Solutions offered and sold unregistered securities to at least one Connecticut investor in contravention of Section 36b-16 of the Connecticut Uniform Securities Act. John Hamby executed the Stipulation and Agreement on behalf of Advanced Business Banking Solutions LLC, agreeing to pay a $500 fine in resolution of the matter. Pursuant to the Stipulation and Agreement, Advanced Business Banking Solutions LLC, its control persons, affiliates and successors in interest agreed to refrain from state securities law violations.
CE Capital Limited, Arthur Connolly, Trevor M. Allen, Sr. and Troy Rejda - Order to Cease and Desist, Order to Make Restitution and Notice of Intent to Fine Issued
On December 1, 2017, the Banking Commissioner issued an Order to Cease and Desist, Order to Make Restitution and Notice of Intent to Fine (Docket No. CRF-17-8212-S) against CE Capital Limited, a purported foreign business entity located in Hong Kong. Also named in the action were Arthur Connolly of Kent, Connecticut, Risk Management Officer of CE Capital; Trevor M. Allen, Sr., Capital Account Signatory for CE Capital; and Troy Rejda of Ozark, Missouri. The action alleged that the respondents offered and sold unregistered securities in the form of participation agreements in or from Connecticut. Under the terms of one such participation agreement, an investor's $50,000 outlay would result in a "Profit Participation" of $450,000 within 31 days as well as the guaranteed return of the investor's initial $50,000. The investor's monies were not returned nor did he receive the $450,000 "Profit Participation." The action alleged that the respondents violated the antifraud provisions in Section 36b-4 of the Connecticut Uniform Securities Act by failing to disclose, among other things, how a $50,000 investment could yield an additional return of $450,000 in 31 days or less; financial and background information on CE Capital Limited and its principals; risk factors relating to the investment; and information on how the investment proceeds would be applied. In addition, the action alleged that Connolly, Allen and Rejda transacted business as unregistered agents of issuer in violation of Section 36b-6 of the Act and that CE Capital Limited employed them in that unregistered capacity. Each of the respondents was afforded an opportunity to request a hearing on the allegations in the Order to Cease and Desist, Order to Make Restitution and Notice of Intent to Fine.
Dated: Wednesday, December 6, 2017
Jorge L. Perez
Banking Commissioner