Skip Maine state header navigation
STATE
OF
OFFICE
OF SECURITIES
121
STATE HOUSE STATION
________________________________
)
IN THE MATTER OF: )
)
Black Point Capital Management )
(CRD #116654) and ) CONSENT AGREEMENT
Seth Sprague )
(CRD #4593074) )
No. 04-054-CAG
)
________________________________)
This Agreement is entered into by
the State of Maine Office of Securities ("Securities"), Black Point
Capital Management (“Black Point”), CRD #116654, a corporation with a principal
place of business at
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 Revised Maine Securities Act to employ or contract with an individual as a
representative of the investment adviser in Maine unless the individual is
licensed;
3.
Securities has reviewed Sprague’s
licensing record and has found that Sprague has never held an investment
adviser representative’s license in
4.
It is Securities’ position that Sprague
has acted as an investment adviser representative in
5.
All parties desire an expeditious
resolution of this matter.
NOW THEREFORE, without trial or adjudication of any issue of fact or law, and without
Black Point and Sprague admitting or denying that their conduct violated the
Revised Maine Securities Act, it is agreed that:
Black Point and Sprague 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 Securities seeking the
imposition of a penalty for the allegations contained herein, Black Point and
Sprague will pay the sum of $1,500.00 to Securities upon Black Point’s and
Sprague’s execution of this Agreement; and
Securities will not take further
action against Black Point and Sprague based upon the unlicensed status of Sprague
during the period preceding and including the date of execution of the
Agreement.
Black
Point Capital Management
By:
January 5,
2004 /s/
Seth Sprague
Date Signature
Seth
Sprague
(printed
name)
Its
President
January 5,
2004 /s/
Seth Sprague
Date Seth
Sprague
January 7,
2004 /s/ Christine A. Bruenn
Date Christine
A. Bruenn
Securities
Administrator
Reviewed by:
January 6,
2004 /s/
Christina V. Breen
Date Christina
V. Breen
Assistant
Securities Administrator
Submitted by:
January 6,
2004 /s/ Christian D. Van Dyck
Date Christian
D. Van Dyck
Investigator/Examiner