Regulatory Alerts2007-06-29
Added · Updated
News Bulletin 2262 - June 29, 2007
The Connecticut Department of Banking approved a branch application for Rockville Bank and accepted a filing from Newtown Savings Bank. The Commissioner issued an Order to Cease and Desist and a Notice of Intent to Fine against Argyle Capital, LLC and its member for selling unregistered securities and violating antifraud provisions, with a hearing scheduled for August 13, 2007. Great Eastern Securities, Inc. was fined $600,000 for employing unregistered agents, selling unregistered securities, and failing to maintain adequate supervisory procedures and records. Additionally, the Department entered a settlement agreement with MortgageIT, Inc. regarding unregistered mortgage originators and revoked the consumer collection agency license of Income Recovery Services, LLC for failing to maintain a required surety bond.