Regulatory Alerts2012-06-29
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Bulletin 2523 - June 29, 2012
The Connecticut Department of Banking approved a check cashing license application for Brooklyn Check Cashing LLC and filed an application for Sikorsky Financial Credit Union to open a branch. The department issued an Order to Cease and Desist, Order to Make Restitution, and Notice of Intent to Fine against William Alexis Cronin, Jr. for selling unregistered securities and violating antifraud provisions. Additionally, a Consent Order was entered with Bankers Life and Casualty Company and BLC Financial Services, Inc., imposing a $965,469.30 fine, requiring reimbursement of $5,000 in licensing fees, and mandating compliance remedial steps regarding unregistered broker-dealer and investment advisory activities.
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