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STATE OF
OFFICE OF SECURITIES
121 STATE HOUSE STATION
________________________________
)
IN THE MATTER OF:
)
) CONSENT AGREEMENT
And
) No. 06-079-CAG
Richard Liberty
)
)
_______________________________
This Agreement is entered into by the State of Maine Office of Securities
(the “Office"), Liberty Investment Advisors (“LIA”) (CRD#121349) and Richard
A. Liberty (“
WHEREAS,
the parties agree as follows:
1.
LIA is a corporation formed under the
laws of
2.
LIA has been licensed in
3.
Since at least September of 2002,
4.
However, at no time has
5.
Since September 30, 2002, it has been
unlawful for a person to transact business in
6.
Also since September 30, 2002, it has
been unlawful for an investment adviser to employ or associate with an individual
as an investment adviser representative in
7.
It is the Office’s position that
8.
Furthermore, it is the Office’s position
that LIA violated the Revised Maine Securities Act and the Maine Uniform Securities
Act by employing or associating with
9.
LIA and
10.
All parties desire an expeditious resolution
to this matter.
NOW THEREFORE, without trial or adjudication of any issue of fact or law, and without
LIA and Liberty admitting or denying that their conduct violated the Revised Maine
Securities Act or the Maine Uniform Securities Act, it is agreed that:
1. LIA and Liberty will comply with all licensing and other legal requirements
governing investment advisers and investment adviser representatives 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 conduct
addressed herein, LIA and Liberty, jointly and severally, will pay the sum of
$1,500.00, payable to “Treasurer, State of Maine,” upon LIA’s and Liberty’s execution
of this Agreement; and
3. The Office will not take further action against LIA and
By:
July 20, 2006 s/Richard A. Liberty
Date
Richard A. Liberty
July 20, 2006 s/Richard A. Liberty
Date
Richard A. Liberty
July 20, 2006 s/Michael J. Colleran
Date
Michael J. Colleran
Securities Administrator
July 20, 2006 s/Bonnie E. Russell
Date
Bonnie E. Russell
Assistant Securities Administrator
Submitted by
July 20, 2006 s/Willis P. Smedberg
Date
Willis P. Smedberg
Investigator/Examiner