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OFFICE OF SECURITIES
121 STATE HOUSE STATION
IN THE MATTER OF: )
Balis Lewittes & Coleman, Inc. ) CONSENT AGREEMENT
This Agreement is entered into
between the State of Maine Office of Securities ("Securities") and Balis Lewittes & Coleman,
Inc. (“BLC”), a broker-dealer located in
WHEREAS, the parties agree as follows:
1. At all relevant times, it has been unlawful in Maine for a person to act as a broker-dealer unless licensed or exempt from licensing under the Revised Maine Securities Act, Title 32 Maine Revised Statutes Annotated §10101 et seq.
BLC originally filed an application
with Securities for licensing as a broker-dealer on
In response to an inquiry from
Securities, BLC informed Securities that it had effected transactions for the
accounts of four (4)
4. It is Securities' position that BLC has
acted as a broker-dealer in
5. BLC has represented to Securities the violation was caused by inaccurate information provided by a consulting firm, and Securities has no basis for doubting that representation.
6. Both parties desire an expeditious resolution of this matter.
NOW THEREFORE, without trial or adjudication of any issue of fact or law, and without BLC admitting or denying that its conduct violated the Revised Maine Securities Act, it is agreed that:
1. BLC will comply with all licensing and other legal requirements governing persons acting as securities broker-dealers in the State of Maine at all times from the date hereof;
2. In lieu of Securities seeking the imposition of a penalty for the allegations contained herein, BLC will pay the sum of $4651.19 to Securities upon BLC's execution of this Agreement; and
3. Securities will not take further action against BLC based upon BLC’s unlicensed status during the period preceding and including the date of execution of this Agreement, PROVIDED, however, that this paragraph applies only to those transactions previously disclosed to Securities by BLC.
Date Christine A. Bruenn
Date David J. Lewittes
Balis Lewittes & Coleman