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IN RE:

ROBERT KENNETH
LINDELL JR.

Maine License No. PRR49325
National Producer No. 708280

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CONSENT AGREEMENT
Docket No. INS-14-200

Robert Kenneth Lindell Jr., a licensed Maine resident insurance producer, the Maine Superintendent of Insurance (“the Superintendent”), and the Office of the Maine Attorney General (“Attorney General”) hereby enter into this Consent Agreement pursuant to 10 M.R.S. § 8003(5)(B).

PARTIES

  1. The Superintendent of Insurance is the official charged with administering and enforcing Maine’s insurance laws and regulations, and the Bureau of Insurance is the administrative agency with such jurisdiction.  The Superintendent has jurisdiction over this matter pursuant to 24-A M.R.S. §§ 12-A and 211.
  1. Robert Kenneth Lindell Jr. has been licensed in Maine as a resident insurance producer since April 11, 1997.  He is licensed as a producer with life/health and variable contracts authority.  His Maine producer license number is PRR49325.  His National Insurance Producer Registry number is 708280.

STATUTORY AUTHORITY

  1. Under 24-A M.R.S. §§ 12-A and 1420-K, the Superintendent may issue a warning, censure, or reprimand to a licensee, may suspend, revoke or refuse to renew the license of a licensee, may impose conditions of probation on the licensee, may levy a civil penalty, or may take any combination of such actions, for violating any insurance laws, or violating any rule, regulation, subpoena, or order of the Superintendent.  Pursuant to 10 M.R.S. § 8003(5)(B), the Superintendent may resolve a complaint by entering into a consent agreement with a licensee and with the agreement of the Attorney General.

 

FACTS

  1.  On April 12, 2013, Mr. Lindell signed a Consent Order with the State of Maine Office of Securities (Consent Order number 11-7733).  The Consent Order related to his engaging in activities as an investment adviser representative in Maine while not being licensed in this capacity.  As part of the Consent Order, Mr. Lindell agreed to pay a civil fine of $15,000 to the Office of Securities.  His license as a broker-dealer agent was made subject to a variety of conditions and restrictions for a period of two years from the date that the Consent Order was fully executed.  If he obtains a license as an investment adviser representative in the future, the license will be made subject to the same conditions and restrictions for a period of two years from the date of such licensure.  He was prohibited from collecting any fees that remained outstanding for his solicitation of investment advisor clients during the period of his unlicensed activity.  The Consent Order was executed when signed by the Securities Administrator on April 22, 2013.
  1. As of April 2, 2014, Mr. Lindell has failed to report this Consent Order to the Maine Bureau of Insurance by direct communication with the Bureau, posting the Consent Order to the National Insurance Producer Registry warehouse, or by any other means.

APPLICABLE LAW

  1. Title 24-A M.R.S. § 1420-K(1)(B)  provides that the Superintendent may place on probation, suspend, revoke or refuse to issue or renew an insurance producer’s license or may levy a civil penalty in accordance with section 12-A, or take any combination of such actions, for violating any insurance laws, or violating any rule, regulation, subpoena or order of the superintendent or of another state’s insurance commissioner.
  1. Title 24-A M.R.S. § 1419 provides that a licensee shall report to the Superintendent any administrative action taken against the licensee in another jurisdiction or by another governmental agency in this State within 30 days of the final disposition of the matter.

COVENANTS

  1. Mr. Lindell agrees to the imposition of a civil penalty in the amount of Five Hundred Dollars ($500.00) which Mr. Lindell will remit to the Maine Bureau of Insurance at the time of returning this signed agreement.  Payment shall be by check or money order made out to “Treasurer, State of Maine.” 
  1. Mr. Lindell will promptly report any matters to the Bureau of Insurance during all times that he is licensed by the Bureau, to the extent such reporting is required under the Maine Insurance Code, and will comply in all other respects with the provisions of the Maine Insurance Code, as applicable.
  1. Nothing in this Agreement shall affect the rights or interests of any person who is not a party to this Agreement.
  1. In consideration of Mr. Lindell’s execution of and compliance with the terms of this Consent Agreement, the Superintendent and Attorney General agree to forgo pursuing against Mr. Lindell any further disciplinary measures or other civil or administrative sanctions available under the Maine Insurance Code concerning the specific conduct described in this Consent Agreement, other than those agreed to herein.  However, should Mr. Lindell violate any provision of this Consent Agreement, he may be subject to any available remedy for the violation.
  1. This Consent Agreement is enforceable by an action in Maine Superior Court.
  1. This Consent Agreement is not subject to appeal.   Mr. Lindell waives any further hearings or appeals regarding the matters that are the subject of this Consent Agreement.
  1. This Consent Agreement may be modified only by a written agreement executed by all of the parties hereto.  Any decision to modify, continue, or terminate any provision of this Consent Agreement rests in the discretion of the Superintendent and the Attorney General.
  1. This Consent Agreement is a public record subject to the provisions of the Maine Freedom of Access Law, 1 M.R.S. §§ 401 through 410, will be available for public inspection and copying as provided for by 1 M.R.S. § 408, and will be reported to the Regulatory Information Retrieval System database at the National Association of Insurance Commissioners.
  1. Mr. Lindell agrees that he has read this Consent Agreement, that he understands this Consent Agreement, that he has reviewed the statutory provisions set forth herein, that he understands his right to consult with counsel before signing this Consent Agreement, and that he enters into this Consent Agreement voluntarily and without coercion of any kind from any person.

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Dated:                        , 2014

ROBERT KENNETH LINDELL JR.

 

______________________________________

 

Robert Kenneth Lindell Jr.

 

Dated:                        , 2014

MAINE OFFICE OF THE ATTORNEY GENERAL

 

________________________________________
Jonathan R. Bolton
Assistant Attorney General

 

Effective
Date:                        , 2014

MAINE BUREAU OF INSURANCE

 

________________________________________
Eric A. Cioppa,
Superintendent

 

 
 

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Last Updated: April 28, 2014