The Department of Banking News Bulletin

Bulletin # 3217 - Week Ending October 17, 2025

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 directed to Jorge L. Perez, Banking Commissioner. Written comments will be considered only if they are received within ten business days from the date of this bulletin.

BANK ACTIVITY

Branch Activity

On October 17, 2025, Bankwell Bank, a Connecticut Bank, filed an application pursuant to Section 36a-145(c)(1) of the Connecticut General Statutes, seeking approval to establish a limited branch at 258 Elm Street, New Canaan, Connecticut 11209. The projected date for the branch opening is during the fourth quarter of 2025. Questions or comments regarding the application can be sent to the Financial Institutions Division at 860 240-8114.

SECURITIES AND BUSINESS INVESTMENTS DIVISION ACTIVITY

Osaic Wealth, Inc. (CRD No. 23131)

On October 14, 2025, the Banking Commissioner entered into a Stipulation and Agreement (No. ST-25-202531-S) with Osaic Wealth, Inc., a Connecticut registered broker-dealer having its main office at 18700 N. Hayden Road, Scottsdale, Arizona 85255. The firm has a Connecticut branch office at 1062 Barnes Road in Wallingford.

The Stipulation and Agreement alleged that the firm violated Section 36b-6(c)(3) of the Connecticut Uniform Securities Act by failing to register a broker-dealer agent as an investment adviser agent under the law.

The firm has since cured the registration deficiency.

In resolution of the matter, the firm agreed to refrain from violative conduct and to pay $8,000 to the agency. Of that amount, $7,500 constituted an administrative fine and $500 represented payment of past due investment adviser agent registration fees.
 

Dated: Tuesday, October 21, 2025

Jorge L. Perez
Banking Commissioner