Regulatory Alerts2009-09-11
Added · Updated
News Bulletin 2377 - September 11, 2009
The Connecticut Department of Banking announces the relocation of Farmington Savings Bank from Avon to Avon, effective October 5, 2009, and invites public comment on the associated community service plan. The Department issued a Notice of Intent to Issue a Stop Order, an Order to Cease and Desist, and a Notice of Intent to Fine against Cuppy’s Coffee & More, Inc. and Elite Manufacturing, LLC for materially false statements in their business opportunity registration and for selling unregistered opportunities. Additionally, the Department entered into a Stipulation and Agreement with Sands Brothers Asset Management LLC, requiring the firm to pay a $32,500 administrative fine and $10,000 in investigative costs, retain an independent consultant, and submit periodic compliance reports to resolve prior violations of the Connecticut Uniform Securities Act.