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STATE OF
OFFICE OF SECURITIES
121 STATE HOUSE STATION
_______________________________________
IN THE MATTER OF: )
)
Sigma Financial Corporation )
CONSENT AGREEMENT
_______________________________________)
This Agreement is entered into
between the State of Maine Office of Securities (“Office of Securities”) and
Sigma Financial Corporation (“Sigma”), a broker-dealer located in
WHEREAS,
the parties agree as follows:
1.
At
all relevant times, it has been unlawful in Maine for a person to act as a
broker-dealer unless licensed or exempt from licensing under the Revised Maine
Securities Act, Title 32 Maine Revised Statutes Annotated § 10101 et seq.
2.
Sigma
filed an application with the Office of Securities for licensing as a
broker-dealer on
3.
On
4.
In
response to the
5.
It
is the Office of Securities’ position that Sigma has acted as a broker-dealer
in
6.
Sigma
has represented to the Office of Securities that the violations were inadvertent
oversights.
7.
Both
parties desire an expeditious resolution of this matter.
NOW, THEREFORE, without trial or adjudication of
any issue of fact or law, and without Sigma admitting or denying that its
conduct violated the Revised Maine Securities Act, it is agreed that:
1.
Sigma
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 of Securities seeking the imposition of a penalty for the
allegations contained herein, Sigma will pay the sum of $5,506.92 to the Office
of Securities upon Sigma’s execution of this Agreement; and
3.
The
Office of Securities will not take further action against Sigma, based 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 of Securities by Sigma.
Date Jerome
S. Rydell, President
Sigma
Financial Corporation
Date Christine
A. Bruenn
Securities
Administrator
Reviewed by:
Date Bonnie
E. Russell
Assistant
Securities Administrator
Presented by:
Date Cathy
J. Williams
Licensing
Coordinator