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OFFICE OF SECURITIES
121 STATE HOUSE STATION
IN THE MATTER OF: )
Butler, Wick & Co., Inc. ) CONSENT AGREEMENT
(CRD #120) ) No. 05-013-CAG
This Agreement is entered into between the State of
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
April 21, 2000, the Office of Securities sent a letter to
April, 2003, and again in July, 2003,
5. The Office of Securities received a response to its April 21, 2000, inquiry on November 24, 2003.
letter dated December 12, 2003, the Office of Securities requested additional
information in connection with
letter dated July 21, 2004, Butler, Wick informed the Office of Securities that
the firm has eleven Maine accounts and that Butler, Wick had effected at least
ninety (90) transactions from August, 1997, to present.
is the Office of Securities’ position that
10. Both parties desire an expeditious resolution of this matter.
NOW, THEREFORE, without trial or adjudication of any issue of fact or law, and without Butler, Wick admitting or denying that their conduct violated the Revised Maine Securities Act, it is agreed that:
1. Butler, Wick will comply with all licensing and other legal requirements governing persons acting as securities sales representatives in the State of Maine at all times from the date hereof;
2. In lieu of the Office of Securities seeking the imposition of a penalty for the allegations contained herein, Butler, Wick will pay the sum of $10,000.00 to the Office of Securities upon Butler, Wick’s execution of this Agreement; and
Office of Securities will not take further action against
September 13, 2004 s/Thomas J. Cavalier, President & CEO
Date Thomas J. Cavalier, President & CEO
Butler, Wick & Co.
September 16, 2004 s/Christine A. Bruenn
Date Christine A. Bruenn
September 16, 2004 s/Bonnie E. Russell
Date Bonnie E. Russell
Assistant Securities Administrator
September 16, 2004 s/Cathy J. Williams
Date Cathy J. Williams