Regulatory Alerts2014-11-28
Added · Updated
Bulletin 2649 - November 28, 2014
The Connecticut Department of Banking approved United Bank's branch application in Rockville and Simsbury Bank & Trust Company's limited branch filing in Warwick, RI. The Commissioner approved the merger of Sargent & Company Employees Federal Credit Union into CONNEX Credit Union, Inc. and revoked the license of Legacy Customer Management Group, LLC for failing to maintain a required surety bond. Additionally, LMB Mortgage Services and Skyline Financial Corp. each paid $500 civil penalties for NMLS filing violations, while Ulysses Partners, LLC and James E. Neilsen were fined $25,000 jointly for selling unregistered securities and committing fraud. Columbus Advisory Group, Ltd. was fined $5,000 and ordered to reimburse regulatory examination costs, and Andre Paul Young received a cease and desist order for misappropriating client funds.