The Department of Banking News Bulletin 

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 business days from the date of this bulletin.

STATE BANK ACTIVITY

Out-Of-State Trust Company

On January 22, 2019, Ankura Trust Company, LLC, a New Hampshire-chartered nondepository trust company with a principal office in Concord, New Hampshire, filed an application pursuant to Connecticut General Statutes Section 36a-434a to establish a trust office at 140 Sherman Street, 4th floor, in Fairfield, Connecticut. 

SECURITIES AND BUSINESS INVESTMENTS DIVISION ACTIVITY

Aquila Municipal Trust

On January 25, 2019, the Banking Commissioner entered into a Stipulation and Agreement (No. ST-18-8488-S) with Aquila Municipal Trust, an open-end management investment company located at 120 West 45th Street, Suite 3600, New York, New York 10036. Aquila Narragansett Tax-Free Income Fund is a series of the trust. The Stipulation and Agreement alleged that the trust, through its filing service provider, reported that in 2015 and 2016, sales of Aquila Narragansett Tax-Free Income Fund had been made to two Connecticut purchasers at a time when no exemption was available for the sales and no notice filing for the fund had been made under Section 36b-21(c) of the Connecticut Uniform Securities Act. A curative notice filing was subsequently made on June 22, 2018.