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STATE OF
OFFICE OF SECURITIES
121 STATE
HOUSE STATION
______________________________________
IN THE MATTER OF:
)
)
J.P. Turner & Company, L.L.C. )
CONSENT AGREEMENT
(CRD #43177)
) No. 05-055-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.
J.P.
Turner filed an application with the Office for licensing as a broker-dealer on
April 16, 1997.
3.
In
response to several inquiries from the Office of Securities regarding additional
information in connection with the firm’s pending broker-dealer application, J.P.
Turner informed the Office that during the period of October 10, 1997, and August
2, 2004, the firm had effected at least eight (8) transactions for the accounts
of two
4.
It
is the Office’s position that J.P. Turner has acted as a broker-dealer in
5.
J.P.
Turner has represented to the Office that the violations were inadvertent oversights.
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 J.P. Turner admitting or denying that its
conduct violated the Revised Maine Securities Act, it is agreed that:
1.
J.P.
Turner 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, J.P.Turner will pay the sum of $3,000 to the
Office upon J.P. Turner’s execution of this Agreement; and
3.
The
Office will not take further action against J.P. Turner, 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 by J.P. Turner.
September
16, 2005 s/William
L. Mello, President
Date
William L. Mello, President
J.P. Turner & Company, L.L.C.
September
21, 2005 s/Michael
J. Colleran
Date
Michael J. Colleran
Securities Administrator
Reviewed by:
September
21, 2005 s/Bonnie
E. Russell
Date
Bonnie E. Russell
Assistant Securities Administrator
Presented by:
September
20, 2005 s/Cathy
J. Williams
Date
Cathy J. Williams
Licensing Coordinator