Bulletin 3209 - August 22, 2025

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 Consequently, the firm’s registration was revoked by default effective August 22, 2025.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