The Department of Banking News Bulletin
Bulletin # 2303
Week Ending April 11, 2008
This bulletin constitutes the only official notification you will receive from this office concerning any of the following applications. Any observations you may have are solicited. Any comments should be in writing to Howard F. Pitkin, Banking Commissioner, at the Connecticut Department of Banking, 260 Constitution Plaza, Hartford, CT 06103-1800 or via E-mail. Written comments will be considered only if they are received within ten days from the date of this bulletin.
CONSUMER CREDIT DIVISION ACTIVITY
Check Cashing Service License Activity
| Date | Check Casher | Location | Activity |
|---|---|---|---|
| 4/09/08 | Luvan Services LLC |
789 East Main Street
Stamford, CT 06902 |
filed |
SECURITIES AND BUSINESS INVESTMENTS DIVISION ACTIVITY
Consent Order
On April 3, 2008, the Commissioner entered a Consent Order with respect to Bayou Technologies, Inc. and Steven O. Canady, both of 1170 Peachtree Street, Suite 1200, Atlanta, Georgia. The respondents had been the subject of a June 15, 2007 Order to Cease and Desist, Notice of Intent to Fine and Notice of Right to Hearing alleging that, between 2003 and 2005, respondent Bayou Technologies, Inc., through respondent Canady, sold unregistered shares of its common stock to Connecticut investors in violation of Section 36b-16 of the Connecticut Uniform Securities Act. The action had also alleged that, in contravention of Section 36b-6 of the Act, respondent Bayou Technologies, Inc. employed respondent Canady as an unregistered agent of issuer, and that respondent Canady transacted business in such capacity. The Consent Order rendered the June 15, 2007 Order to Cease and Desist permanent, and acknowledged the respondents’ representation that Bayou Technologies, Inc. had offered rescission to each Connecticut investor who had purchased unregistered stock. In addition, the Consent Order fined respondent Bayou Technologies, Inc. $10,000.
Dated: Tuesday, April 15, 2008
Howard F. Pitkin
Banking Commissioner