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OFFICE OF SECURITIES
121 STATE HOUSE STATION
IN RE: Investacorp, Inc., and Michael J. ) CONSENT AGREEMENT
Poulin ) No. 06-064-CAG
This Agreement is entered into between the State of Maine Office of Securities (“the Office”), Investacorp, Inc. (“Investacorp”), CRD # 7684, and Michael J. Poulin (“Poulin”), CRD # 711767, to informally resolve this matter. This is not a consent decree or order, and no findings have been made against Investacorp or Poulin.
WHEREAS, the parties agree as follows:
has been licensed to do business in
all times relevant to this matter, Poulin has been licensed in
April 2000 and again in March 2001, the Office examined the
4. In March 2006, the Office conducted a third examination of the Lewiston branch office and again observed that Poulin was not monitoring or controlling the activities of the firm’s agents or reviewing their correspondence.
5. Investacorp is a member of the NASD, a self-regulatory organization to which certain federal regulatory responsibilities have been delegated pursuant to the Securities Act of 1934.
6. NASD Rule 3010(b) and Rule Chapter 504, Section 7, require broker-dealers to enforce their written procedures.
7. It is the Office’s position that, as described in Paragraphs 3 and 4 above, Investacorp failed to enforce its written supervisory procedures. It is also the Office’s position that, pursuant to 32 M.R.S.A. §16612, Poulin is liable to the same extent as Investacorp for this violation.
8. All parties desire an expeditious resolution of this matter.
9. Without trial or adjudication of any issue of fact or law, Poulin and Investacorp waive their right to a hearing and to judicial review and consent to the entry of this Agreement.
NOW, THEREFORE, without Respondents admitting or denying that their conduct violated the Revised Maine Securities Act or the Maine Uniform Securities Act, it is agreed that:
1. Poulin will not act in any supervisory capacity for Investacorp or any other broker-dealer for a period of two years from the date of execution of this Agreement;
and Poulin will each voluntarily pay the sum of $10,000 to the Office upon their
execution of this Agreement, by check made payable to “Treasurer, State of
3. The Office will not take further action against the Respondents based solely upon the deficiencies noted in the Office’s letters to Investacorp dated August 1, 2000, August 29, 2001, and April 27, 2006.
May 25, 2006 s/Bruce A. Zwigard
Date Bruce A. Zwigard
May 24, 2006 s/Michael J. Poulin
Date Michael J. Poulin
May 31, 2006 s/Michael J. Colleran
Date Michael J. Colleran
May 31, 2006 s/Bonnie E. Russell
Assistant Securities Administrator
May 31, 2006 s/Jacqueline M. Drouin
Date Jacqueline M. Drouin
Investigator / Examiner