Regulatory Alerts2013-01-11
Added · Updated
Bulletin 2551 - January 11, 2013
The Connecticut Department of Banking approved Manufacturers and Traders Trust Company to establish a de novo branch in Stamford. The Commissioner imposed $50,000 fines on Maxcomusa Group Inc. and its president Christos Christoforou for securities violations, including selling unregistered restricted shares at a premium and acting as an unregistered broker-dealer. New enforcement actions were initiated against PowerWater Systems, Inc. and related entities for offering unregistered securities and misusing investor funds, and against The Gallo Law Center, PLLC for unlicensed debt negotiation. Additionally, notices of intent to fine were issued to Jong Mortgage Group LLC and LYC Mortgage, LLC for failing to timely file required annual information on the Nationwide Mortgage Licensing System and Registry.