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STATE OF
OFFICE OF SECURITIES
121 STATE HOUSE STATION
_______________________________________
IN THE MATTER OF: )
)
Burke,
516
Spring
(CRD #1346) )
_______________________________________)
This Agreement is entered into between the State of Maine
Office of Securities (“Office of Securities”) and Burke, Lawton, Brewer &
Burke (“Burke, Lawton”), a broker-dealer with its principal place of business
in Spring House, Pennsylvania.
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.
In
November of 1998 the Office of Securities contacted Burke,
3.
Burke,
4.
In
subsequent correspondence dated December 17, 1999, Clyde C. Leaver, then a
partner with Burke,
5.
On
April 6, 2000, the Office of Securities received a broker-dealer license
application from Burke,
6.
On
May 8, 2000, the Office of Securities sent a letter to Burke,
7.
In
response to the May 8, 2000 letter, Burke,
8.
On
May 27, 2004, after receiving information from Burke,
9.
Burke,
10. All parties would like to resolve
the matter of the prior unlicensed activity.
11. It is the Office of Securities’
position that Burke,
12. Burke,
13. Both parties desire an expeditious
resolution of this matter.
NOW, THEREFORE, without trial or adjudication of
any issue of fact or law, and without Burke, Lawton admitting or denying that
its conduct violated the Revised Maine Securities Act, it is agreed that:
1.
Burke,
Lawton 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, Burke, Lawton will pay the sum of $1,706.27 to
the Office of Securities upon Burke, Lawton’s execution of this Agreement; and
3.
The
Office of Securities will not take further action against Burke,
July 26,
2004 s/Franklin
A. Burke
Date Franklin
A. Burke
General
Partner
Burke,
August
3, 2004 s/Christine
A. Bruenn
Date Christine
A. Bruenn
Securities
Administrator
Presented by:
August
2, 2004 s/Jacqueline
M. Drouin
Date Jacqueline
M. Drouin
Investigator/Examiner