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STATE
OF
OFFICE
OF SECURITIES
121
STATE HOUSE STATION
________________________________
)
IN THE MATTER OF: )
)
D. M. Becker Investment Management )
Company, Inc. (CRD #119860) )
and ) CONSENT AGREEMENT
Douglas Becker )
(CRD #862225) )
No. 04-043-CAG
)
________________________________)
This Agreement is entered into by the
State of Maine Office of Securities ("Securities"), D. M. Becker
Investment Management Company, Inc. (“D. M. Becker, Inc.”) (CRD #119860), an investment
adviser company incorporated pursuant to the laws of Maine with a principal
place of business at Thirty-three Silver Street, Portland, Maine 04101, and Douglas
Becker (“Becker”), CRD # 862225), an investment adviser representative
affiliated with D. M. Becker, Inc.
WHEREAS,
the parties agree as follows:
1.
Pursuant to 32 M.R.S.A. § 10303(1), a
person may not act in
2.
Pursuant to 32 M.R.S.A. § 10303(3) it
is unlawful for an investment adviser licensed or required to be licensed under
the Revised Maine Securities Act to employ or contract with an individual as a
representative of the investment adviser in Maine unless the individual is
licensed;
3.
Securities has reviewed Becker’s
licensing record and has found that Becker has not held an investment adviser
representative’s license in Maine from September 2002 to the present, during
which time investment adviser representatives have been required to be licensed
in Maine.
4.
It is Securities’ position that Becker
has acted as an investment adviser representative in
5.
It is Securities’ position that D. M.
Becker Inc. has employed Becker as an investment adviser representative of D.
M. Becker Inc. while Becker has not been licensed as an investment adviser
representative;
6.
All parties desire an expeditious
resolution of this matter.
NOW THEREFORE, without trial or adjudication of any issue of fact or law, and without
D. M. Becker, Inc. and Becker admitting or denying that their conduct violated
the Revised Maine Securities Act, it is agreed that:
D. M. Becker, Inc. and Becker will
comply with all licensing and other legal requirements governing persons acting
as investment advisers and investment adviser representatives in the State of
Maine at all times from the date hereof;
In lieu of Securities seeking the
imposition of a penalty for the allegations contained herein, D. M. Becker,
Inc. and Becker shall pay the sum of $1,500.00 to Securities upon D. M. Becker,
Inc.’s and Becker’s execution of this Agreement; and
Securities will not take further
action against D. M. Becker, Inc. and Becker
based upon the
unlicensed status of Becker during the period preceding and including the date
of execution of the Agreement.
By:
Date Signature
D. M. Becker
Investment Management Company, Inc.
(printed
name)
Its
President
Date Douglas
Becker
Date Christine
A. Bruenn
Securities
Administrator
Reviewed by:
Date Christina
V. Breen
Assistant
Securities Administrator
Submitted by:
Date Christian
D. Van Dyck
Investigator/Examiner