Regulatory Alerts2019-09-27
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Bulletin 2901 - September 27, 2019
The Connecticut Department of Banking approved Investors Bank to establish a loan production office in Danbury. The Commissioner entered into a Consent Order with Account Discovery Systems, LLC and Payment Management Services USA, LLC, requiring a $50,000 civil penalty and imposing a five-year prohibition on John H. Chebat from acting in consumer collection agency capacities in Connecticut. Additionally, a Consent Order fined Robert William Brinkman $20,000 and Safe Harbour LLC required two years of regulatory consulting, client notification, and restrictions on discretionary trading authority due to unregistered investment adviser activities and misrepresentations.
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