Skip Maine state header navigation
STATE
OF
OFFICE
OF SECURITIES
121
STATE HOUSE STATION
________________________________
)
IN THE MATTER OF: )
)
Ram Trust Services Inc. )
Michael P. Wood ) CONSENT AGREEMENT
John P. Higgins )
Kate C. Wilkinson ) No. 05-060-CAG
________________________________)
This Agreement is entered into by
the State of Maine Office of Securities (the “Office"), Ram Trust Services
Inc. (“Ram”) an investment adviser company with a principal place of business
at 45 Exchange Street, Portland, Maine, 04101, and Michael P. Wood, John P.
Higgins and Kate C. Wilkinson, investment adviser representatives affiliated
with Ram.
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.
The Office has reviewed the licensing
records of Wood, Higgins and Wilkinson and has found that they have never held
an investment adviser representative license in
4.
Ram has represented to the Office that
the failure to obtain the correct licensing status for Wood, Higgins, and
Wilkinson was an inadvertent, administrative error;
5.
It is the Office’s position that Wood,
Higgins and Wilkinson have acted as an investment adviser representatives in
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
Ram, Wood, Higgins or Wilkinson admitting or denying that their conduct
violated the Act, it is agreed that:
1. Ram, Wood, Higgins and Wilkinson 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;
2. In lieu of the Office seeking the imposition
of a penalty for the allegations contained herein, Ram, Wood, Higgins and
Wilkinson will pay the sum of $4,500.00 to the Office upon their execution of
this Agreement; and
3. The Office will not take further action
against Ram, Wood, Higgins and Wilkinson based upon the unlicensed status of
the three individual respondents during the period preceding and including the
date of execution of this Agreement.
RAM
Trust Services Inc.
By:
3/15/2005 /s/
John P.M. Higgins
Date John
P.M. Higgins
Its
President
3/15/2005 /s/
Michael P. Wood
Date Michael
P. Wood
3/15/2005 /s/
John P. Higgins
Date John
P. Higgins
3/15/2005 /s/
Kate C. Wilkinson
Date Kate
C. Wilkinson
3/21/2005 /s/
Christine A. Bruenn
Date Christine
A. Bruenn
Securities
Administrator
Reviewed by:
3/21/2005 /s/
Michael W. Atleson
Date Michael
W. Atleson
Staff
Attorney
Submitted by:
3/21/2005 /s/
Christian D. Van Dyck
Date Christian
D. Van Dyck
Investigator/Examiner