RegAlert2025-08-22
Added · Updated
Bulletin 3209 - August 22, 2025
The Banking Commissioner revoked the broker-dealer registration of Phillips & Company Securities Inc. effective August 22, 2025, following the firm's failure to request a hearing on a prior Notice of Intent to Revoke Registration. This action was taken because the firm failed to maintain a required broker-dealer agent registration in violation of the Connecticut Uniform Securities Act and did not remedy the situation after regulatory communications. The revocation occurred by default due to the firm's non-response to the administrative proceedings.
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State of Connecticut
Department of Banking
The Department of Banking News Bulletin
Bulletin # 3209 - Week Ending August 22, 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.
SECURITIES AND BUSINESS INVESTMENTS DIVISION ACTIVITY
Phillips & Company Securities Inc. (CRD No. 35800)
On August 22, 2025, the Banking Commissioner entered an Order Revoking Registration as a Broker-dealer (No. NRC-24-202410-S) against Phillips & Company Securities Inc. of 521 SW 11th, Suite 200, Portland, Oregon 97205. The Order Revoking Registration had been preceded by an April 24, 2024 Notice of Intent to Revoke Registration as a Broker-dealer and Notice of Right to Hearing (No. NRC-24-202410-S) which alleged that the firm violated Section 36b-31-6a(a) of the Regulations under the Connecticut Uniform Securities Act by failing to maintain a broker-dealer agent registration. The earlier action further alleged that the Respondent failed to remedy the situation following several communications from the Division.
The firm failed to request a hearing on the Notice of Intent to Revoke Registration as a Broker-dealer. Consequently, the firm’s registration was revoked by default effective August 22, 2025.
Dated: Tuesday, August 26, 2025
Jorge L. Perez
Banking Commissioner
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Source: Connecticut Department of Banking — original document · Summary generated with machine assistance and reviewed before publication; the authoritative text is the regulator's original document. How RegAlert works
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