Regulatory Alerts2017-10-20
Added · Updated
Bulletin 2800 - October 20, 2017
The Connecticut Department of Banking entered into consent orders requiring United Guaranty Commercial Insurance Company to pay a $10,000 civil penalty for operating as an unlicensed consumer collection agency, and Transworld Systems Inc to pay a $200,000 penalty for information reporting violations and deceptive affidavit practices. The Commissioner issued a final order against Omni View Capital LLC and Abraxas J. Discala, levying $150,000 fines each and mandating $47,500 in restitution to investors within 30 days for acting as unregistered broker-dealers and selling unregistered securities. Additionally, the bulletin notes that Savings Bank of Danbury withdrew its application for a Loan Production Office in Stamford.
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