Skip Maine state header navigation
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:
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.
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)
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
November 28, 2005 s/Bonnie E. Russell
Date Bonnie E. Russell
Assistant Securities Administrator
November 28, 2005 s/Cathy J. Williams
Date Cathy J. Williams