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STATE OF
OFFICE OF SECURITIES
121 STATE
HOUSE STATION
_______________________________________
IN THE MATTER OF:
)
)
SF Investments, Inc.
) CONSENT
AGREEMENT
(CRD #6564)
) No. 05-043-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.
SF
Investments filed an application with the Office of Securities for licensing as
a broker-dealer on August 18, 2004.
3.
In
response to inquiries from the Office of Securities regarding additional information
in connection with the firm’s pending broker-dealer application, SF Investments
informed the Office of Securities that it had effected at least five (5) transactions
for the account of two
4.
It
is the Office of Securities’ position that SF Investments has acted as a broker-dealer
in
5.
SF
Investments has represented to the Office of Securities 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 SF Investments admitting or denying that
its conduct violated the Revised Maine Securities Act, it is agreed that:
1.
SF
Investments 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, SF Investments will pay the sum of $3,000 to the Office of Securities
upon SF Investments’ execution of this Agreement; and
3.
The
Office of Securities will not take further action against SF Investments, 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 SF Investments.
July
13, 2005
s/Daniel M. Shapiro, Vice President
Date
Daniel M. Shapiro, Vice President
SF Investments, Inc.
July
20, 2005
s/Christine A. Bruenn
Date
Christine A. Bruenn
Securities Administrator
Reviewed by:
July
20, 2005
s/Bonnie E. Russell
Date
Bonnie E. Russell
Assistant Securities Administrator
Presented by:
July
18, 2005
s/Cathy J. Williams
Date
Cathy J. Williams
Licensing Coordinator