Regulatory Alerts2019-05-10
Added · Updated
Amended and Restated Order to Cease and Desist, Order to Make Restitution, Notice of Intent to Deny Registrations, and Notice of Intent to Fine
The Connecticut Banking Commissioner amends and supersedes previous enforcement actions against Mosaic Financial Strategies LLC and Adam Westphalen for violations including unregistered investment advisory activities, failure to disclose material information on Form ADV and Form U4, and failure to produce subpoenaed documents. The order requires the respondents to cease and desist from violating securities laws, make restitution to affected investors, and imposes fines. Additionally, the Commissioner intends to deny Mosaic’s registration as an investment adviser and Westphalen’s registration as an investment adviser agent.
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