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STATE OF
OFFICE OF SECURITIES
121 STATE HOUSE STATION
________________________________
)
IN THE MATTER OF:
)
)
Investment Management & Consulting
) CONSENT AGREEMENT
Group, Charles W. Dibner, and
)
Fredric W. Williams
)
No. 05-052
)
________________________________)
This Agreement is entered into by the State of Maine Office of Securities
("Office"), Investment Management & Consulting Group (“IMCG”) (CRD
# 108228), an investment adviser company with a principal place of business at
97A Exchange Street, Suite 504, Portland, Maine, and Charles W. Dibner (“Dibner”)
(CRD # 720494) and Fredric W. Williams (“Williams”) (CRD # 712536), both investment
adviser representatives affiliated with IMCG.
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 Act to employ or contract with an individual as a representative of the investment
adviser in Maine unless the individual is licensed;
3.
Dibner and Williams applied for licensing
in
4.
IMCG failed to note through the Central
Registration Depository and the renewal process that neither Dibner nor Williams
has been licensed as investment adviser representatives;
5.
It is the Office’s position that Dibner
and Williams have acted as investment adviser representatives in Maine without
being licensed or exempt from licensing;
6.
IMCG has represented to the Office that
it was unaware until recently that their applications for licensure as investment
adviser representatives have remained pending; and
7.
All parties desire an expeditious resolution
of this matter.
NOW THEREFORE, without trial or adjudication of any issue of fact or law, and without
IMCG, Dibner or Williams admitting or denying that their conduct violated the
Revised Maine Securities Act, it is agreed that:
IMCG, Dibner and Williams 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 the Office seeking the imposition
of a penalty for the allegations contained herein, IMCG, Dibner and Williams will
pay the sum of $3,000.00 to the Office upon IMCG’s Dibner’s and Williams’ execution
of this Agreement; and
The Office will not take further action
against IMCG, Dibner or Williams based upon the unlicensed status of Dibner and
Williams during the period preceding and including the date of execution of the
Agreement.
Investment
Management & Consulting
Group
By:
3/25/05 /s/
Fredric W. Williams
Date
Fredric W. Williams
President
3/25/05 /s/
Charles W. Dibner
Date
Charles W. Dibner
3/25/05 /s/
Fredric W. Williams
Date
Fredric W. Williams
3/30/05 /s/
Christine A. Bruenn
Date
Christine A. Bruenn
Securities Administrator
Reviewed by:
3/30/05 /s/
Michael W. Atleson
Date
Michael W. Atleson
Staff Attorney
Submitted by:
3/30/05 /s/
Christian D. Van Dyck
Date
Christian D. Van Dyck
Investigator/Examiner