"Attorney General Thomas F. Reilly praised the banking division's action, and said his office filed lawsuits last week against brokers in Arlington and Dorchester. 'We will continue our efforts to address this egregious conduct,'(said) Reilly."
(last few sentences in this Boston Globe article,
http://www.boston.com/news/local/massachusetts/articles/2006/09/09/7_mortgage_brokers_shut_down_by_state/?page=full )
And, to directly answer your question, the
Division of Banks, Massachusetts is u/ Romney's executive branch and, as such, is an administrative agency u/ the Governor. Tom Reilly does
not head this agency. However, the Division of Banks may
refer facts and circumstances of events to Reilly's office to have Reilly's office determine if criminal (court) action or civil (court) action be taken against an alleged perpetrator in the banking industry. The same is true of any other administrative agency head who believes circumstances may rise to involve Reilly's office. On the other hand, if the law in Massachusetts authorizes the head of a particular administrative agency to file a civil complaint in civil court, then it may do so. But not criminal complaints. All of that being said, Reilly may start his
own investigation w/o referrals from other Massachusetts administrative agencies. But this is less common due to many reasons -- mostly manpower and cost.
Now that you are totally confused . . .
Here's an example of what Reilly is authorized to do (and has done recently) u/ Massachusetts law against some alleged banking/financial fraud perps:
http://www.ago.state.ma.us/sp.cfm?pageid=986&id=1713.