Regulatory Alerts2001-03-31
Added · Updated
Spring 2001 Securities Bulletin
The Connecticut Department of Banking rescinded its 1994 policy statement on the retail sales of nondeposit investment products by depository institutions, effective March 21, 2001, due to changes in federal and state law. The Department issued an Order exempting insurance company demutualization transactions from securities registration and broker-dealer licensing requirements, provided the conversion is approved by the state insurance regulator and involves a policyholder vote. Additionally, the Division simplified broker-dealer registration forms and procedures, reducing paperwork by approximately one-third and allowing filings through the Central Registration Depository.
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