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STATE
OF
OFFICE
OF SECURITIES
121
STATE HOUSE STATION
________________________________
)
IN THE MATTER OF: )
)
Financial Services of
(CRD #38088) and ) CONSENT AGREEMENT
Scott Pelletier )
(CRD #1240152) )
No. 04-049-CAG
)
_______________________________ )
This Agreement is entered into by
the State of Maine Office of Securities ("Securities"), Financial
Services of New England (“Financial Services”), (CRD #38088), a investment
adviser operating as a partnership and conducting business in Maine with a
principal place of business at 108 Fowler Road, Orrington, Maine 04474, and Scott
Pelletier (“Pelletier”), CRD# 1240152, an investment adviser representative
affiliated with Financial Services.
WHEREAS,
the parties agree as follows:
1.
Pursuant to 32 M.R.S.A. § 10303(1), a
person may not act in
2.
Pursuant to 32 M.R.S.A. § 10303(3) it
is unlawful for an investment adviser licensed or required to be licensed under
the Revised Maine Securities Act to employ or contract with an individual as a
representative of the investment adviser in Maine unless the individual is
licensed;
3.
Securities has reviewed Pelletier’s
licensing record and has found that Pelletier has never held an investment
adviser representative’s license in
4.
It is Securities’ position that Pelletier
has acted as an investment adviser representative in Maine on behalf of
Financial Services without being licensed or exempt from licensing; and
5.
All parties desire an expeditious
resolution of this matter.
NOW THEREFORE, without trial or adjudication of any issue of fact or law, and without
Financial Services and Pelletier admitting or denying that their conduct
violated the Revised Maine Securities Act, it is agreed that:
Financial Services and Pelletier will
comply with all licensing and other legal requirements governing persons acting
as investment advisers and investment adviser representatives in the State of
Maine at all times from the date hereof;
In lieu of Securities seeking the
imposition of a penalty for the allegations contained herein, Financial
Services and Pelletier will pay the sum of $1,500.00 to Securities upon Financial
Services’ and Pelletier’s execution of this Agreement; and
Securities will not take further
action against Financial Services and Pelletier based upon the unlicensed
status of Pelletier during the period preceding and including the date of
execution of the Agreement.
Financial
Services of
By:
Date Signature
Scott
Pelletier
(printed
name)
Partner
Date Scott
Pelletier
Date Christine
A. Bruenn
Securities
Administrator
Reviewed by:
Date Christina
V. Breen
Assistant
Securities Administrator
Submitted by:
Date Christian
D. Van Dyck
Investigator/Examiner