Regulatory Alerts2016-11-04
Added · Updated
Bulletin 2750 - November 4, 2016
The Connecticut Department of Banking revokes the broker-dealer registration of The Dratel Group, Inc., effective November 4, 2016, due to FINRA expulsion and prior sanctions for fraudulent trade allocation and recordkeeping violations. The Commissioner also issued emergency orders against Century Union Services, LLC and Robes Barboza, including a summary suspension of their money transmission license and notices of intent to impose civil penalties not exceeding $100,000 per violation for fraud and misrepresentation. Additionally, the bulletin announces a 30-day public comment period for United Bank's proposed closing of a loan production office in Fairfield, CT, with written comments due within ten days of the bulletin's publication.