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STATE OF
OFFICE OF SECURITIES
121 STATE
HOUSE STATION
_______________________________________
)
IN THE MATTER OF:
)
) CONSENT AGREEMENT
McKinnon & Company, Inc.
) No.
06-022-CAG
______________________________________)
This Agreement is entered into between the State of
WHEREAS, the parties agree as follows:
1.
At
all relevant times, it has been unlawful in
2.
McKinnon
filed an application with the Office for licensing as a broker-dealer on July
11, 2005.
3.
In
response to an inquiry from the Office, McKinnon disclosed that it had effected
at least forty-two (42) transactions for the accounts of three (3)
4.
It
is the Office’s position that McKinnon has acted as a broker-dealer in
5.
McKinnon
has represented to the Office that it was not its intention to violate the Maine
Revised Securities Act.
6.
Both
parties desire an expeditious resolution of this matter.
NOW, THEREFORE, without trial or adjudication of
any issue of fact or law, and without McKinnon admitting or denying that its conduct
violated the Revised Maine Securities Act, it is agreed that:
1.
McKinnon
will comply with all licensing and other legal requirements governing persons
acting as securities broker-dealers in the State of Maine at all times from the
date hereof;
2.
In
lieu of the Office seeking the imposition of a penalty for the allegations contained
herein, McKinnon will pay the sum of $3,000 to the Office upon McKinnon’s execution
of this Agreement; and
3.
The
Office will not take further action against McKinnon, based solely upon its unlicensed
status during the period preceding and including the date of execution of this
Agreement, PROVIDED, however, that
this paragraph applies only to those transactions previously disclosed to the
Office by McKinnon.
November
22, 2005
s/William J. McKinnon, President/CCO
Date
William J. McKinnon, President / CCO
McKinnon & Company, Inc.
November
28, 2005
s/Michael J. Colleran
Date
Michael J. Colleran
Securities Administrator
Reviewed by:
November
28, 2005
s/Bonnie E. Russell
Date
Bonnie E. Russell
Assistant Securities Administrator
Presented by:
November
28, 2005
s/Cathy J. Williams
Date
Cathy J. Williams
Licensing Coordinator