CREDIT UNION ACTIVITY
Conversion

On October 22, 2015, Fairfield County Federal Credit Union, a federal credit union, filed an application to convert to a Connecticut credit union pursuant to Section 36a-469b of the Connecticut General Statutes. 

CONSUMER CREDIT DIVISION ACTIVITY
Notice of Intent to Issue Order to Cease and Desist
and Notice of Intent to Impose Civil Penalty

On October 15, 2015, the Commissioner issued a Notice of Intent to Issue Order to Cease and Desist, Notice of Intent to Impose Civil Penalty and Notice of Right to Hearing (“Notice”) in the Matter of:  United Obligations Limited Liability Company, Larchmont, New York, Westport, Connecticut, and Portland, Maine (“Respondent”).  The Notice was the result of an investigation by the Consumer Credit Division.  The Commissioner alleges that Respondent acted within this state as a consumer collection agency without a consumer collection agency license, in violation of Section 36a-801(a) of the Connecticut General Statutes, as amended by Public Act 15-235.  Respondent was afforded an opportunity to request a hearing with regard to the allegation set forth in the Notice.

SECURITIES AND BUSINESS INVESTMENTS DIVISION ACTIVITY
Consent Order Entered

On October 26, 2015, the Banking Commissioner entered a Consent Order (No. CO-15-8252-S) with respect to Acerbus, LLC, Red Advisors LLC, Domum Equity 1, Ltd and Domum Equity 2, Ltd., all of Stamford, Connecticut.  Also named in the Consent Order was Andres Dario Rojo, executive officer of Domum Equity 2, Ltd and manager of Acerbus, LLC, Red Advisors LLC and Domum Equity 1, Ltd.  Domum Equity 1, Ltd and Domum Equity 2, Ltd were real estate partnerships.  Red Advisors LLC was an applicant for investment adviser registration under the Connecticut Uniform Securities Act.

The Consent Order alleged that 1) from at least 2007 forward, Acerbus, LLC transacted business as an unregistered investment adviser in violation of Section 36b-6(c)(1) of the Act; 2) from at least 2007 forward, Rojo transacted business as an unregistered investment adviser agent of Acerbus, LLC in contravention of Section 36b-6(c)(2) of the Act; 3) Domum Equity 1, Ltd and Domum Equity 2, Ltd violated Section 36b-16 of the Act by failing to timely file an exemptive claim or a claim of covered security status under Section 36b-21 of the Act; and 4) grounds existed for denying the Connecticut registrations of Red Advisors LLC and Rojo as an investment adviser and investment adviser agent, respectively.

The Consent Order directed Andres Dario Rojo, Acerbus, LLC, Domum Equity 1, Ltd, Domum Equity 2, Ltd, their representatives, agents, employees, affiliates (including, without limitation, Red Advisors LLC), assigns, subsidiaries and successors in interest to cease and desist from regulatory violations.  In addition, the Consent Order required that Rojo and Acerbus, LLC jointly and severally remit $4,700 to the department.  Of that amount, $2,500 constituted an administrative fine and $2,200 represented reimbursement for past due investment adviser and investment adviser agent registration fees.  The Consent Order also required that Rojo, Domum Equity 1, Ltd and Domum Equity 2, Ltd jointly and severally remit $1,250 to the department as an administrative fine.

Red Advisors LLC became registered as an investment adviser in Connecticut on October 26, 2015.  On the same date, Andres Dario Rojo became registered as an investment adviser agent of the firm in Connecticut.