State of Connecticut Department of Banking

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The Department of Banking News Bulletin 

Bulletin # 2931 - Week Ending April 24, 2020

 

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 Jorge L. Perez, Banking Commissioner, Department of Banking, 260 Constitution Plaza, Hartford, CT 06103-1800.  Written comments will be considered only if they are received within ten business days from the date of this bulletin.

 

SECURITIES AND BUSINESS INVESTMENTS DIVISION ACTIVITY

Order Pursuant to Executive Order No. 7M

On April 27, 2020, the Commissioner issued an Order Pursuant to Executive Order No. 7M in the matter of Adam Westphalen (CRD No. 2821723), Mosaic Financial Strategies LLC f/k/a Mosaic Portfolio Strategists LLC (CRD No. 149364) and Mosaic Financial Strategies LLC d/b/a Mosaic Advisory Partners (CRD No. 288997) (collectively, “Respondents”). The Order granted a request from the Hearing Officer to extend the deadline for rendering a final decision for a hearing held concerning allegations contained in an Order to Cease and Desist, Order to Make Restitution, Notice of Intent to Deny Registrations as an Investment Adviser and as an Investment Adviser Agent, Notice of Intent to Fine and Notice of Right to Hearing issued against Respondents on March 11, 2019. The Commissioner extended the deadline for rendering a final decision from May 4, 2020 to July 6, 2020.

 

 

      Dated: Tuesday, April 28, 2020

      Jorge L. Perez
      Banking Commissioner