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OFFICE OF SECURITIES
IN RE: CONSENT ORDER
ROBERT KENNETH LINDELL, JR. 02-025-COR
The State of Maine Office of Securities (“Office of Securities”) and the respondent, Robert Kenneth Lindell, Jr. (“Lindell”) desire an expeditious resolution of the charges as contained in the Notice of Intent to Revoke a Sales Representative’s License, to Bar from Association and to Impose a Civil Penalty (“the Notice”) issued by the Office of Securities. Lindell does not admit or deny those allegations, but nonetheless agrees to the entry of this Order. Further, by agreeing to this Order Lindell agrees to waive his right to a hearing and to judicial review of this Order, and, further, consents to the terms and entry of this Order:
1. Lindell acknowledges that the Office of Securities believes that it has a good faith basis to assert the claims set forth in the Notice and that the Office asserts that there is substantial evidence to support the allegations contained in the Notice.
The sales representative license of Lindell is suspended
for 3 months beginning on
Upon reinstatement, Lindell’s sales representative
license and his qualification to act as a representative for an investment
adviser shall, for a 2 year period, be subject to the following restrictions:
a) he will not act in any principal, supervisory, or managerial capacity for a
broker-dealer or investment adviser;
b) he will promptly report to the Office of Securities all investigations,
proceedings, and written customer complaints against him arising out of
activities in the securities industry;
c) he will not exercise discretionary authority in the account of any customers
without the prior written consent of the Office of Securities;
d) the broker-dealer or investment adviser will undertake enhanced supervision
of him by a person who is licensed with or qualified in the State of Maine,
e) Lindell shall keep the Office of Securities informed of the name of the
individual at the broker-dealer or investment adviser who is specifically
responsible for the exercise of the supervision;
g) any accounts he handles will first be subject to the approval of the branch
manager or a principal at the broker- dealer or investment adviser.
4. Failure by Lindell to adhere to the above conditions will constitute grounds for the Office of Securities to revoke his sales representative license or take any other available action.
5. In any future action taken concerning the license of Lindell, the Office of Securities agrees not to take licensing action based solely on either the terms of this Order or the allegations contained in the Notice, provided, however, that nothing in this Order will preclude the Office of Securities from taking licensing action based on other allegations, or from taking this Order and the underlying allegations into account in determining the proper resolution of such other allegations.
Christine A. Bruenn
The respondent hereby waives his right
to a hearing and consents to the entry of the order set forth above.
Robert Kenneth Lindell, Jr.