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                                                              STATE OF MAINE

                                                        OFFICE OF SECURITIES

                                                    121 STATE HOUSE STATION

                                                       AUGUSTA, MAINE 04333

 

________________________________

                                                                        )

IN THE MATTER OF:                                   )

                                                                        )                                  

Jepson Financial Advisors, P.A.                 )

(CRD #123342), Brent K. Jepson              )                       CONSENT AGREEMENT  

(CRD # 841113) and                                    )

Gordon W. H. Buzza, Jr.                               )                              No. 04-058-CAG

                                                                        )

________________________________)

 

 

 

            This Agreement is entered into by the State of Maine Office of Securities ("Securities"), Jepson Financial Advisors, P.A. (“Jepson Financial”), (CRD #123342), a corporation with a principal place of business at 24 Sweden Street, Caribou, Maine  04736-0306,  and Brent K. Jepson (“Jepson”), CRD #841113,  and Gordon W. H. Buzza, Jr. (“Buzza”), investment adviser representatives affiliated with Jepson Financial.

 

 

            WHEREAS, the parties agree as follows:

 

1.                  Pursuant to 32 M.R.S.A. § 10303(1), a person may not act in Maine as an investment adviser representative unless licensed or exempt from licensing under the Revised Maine Securities Act;

 

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 Jepson’s and Buzza’s licensing record and has found that neither Jepson nor Buzza has ever held an investment adviser representative’s license in Maine;

 

4.                  It is Securities’ position that Jepson and Buzza have acted as an investment adviser representatives in Maine without being licensed or exempt from licensing; and

 

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 Jepson Financial, Jepson or Buzza admitting or denying that their conduct violated the Revised Maine Securities Act, it is agreed that:

 

            Jepson Financial, Jepson and Buzza 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, Jepson Financial, Jepson and Buzza will pay the sum of $3,000.00 to Securities upon Jepson Financial’s, Jepson’s and Buzza’s execution of this Agreement; and

 

            Securities will not take further action against Jepson Financial, Jepson or Buzza based upon the unlicensed status of Jepson or Buzza during the period preceding and including the date of execution of the Agreement.

 

 

                                                                        Jepson Financial Advisors, P.A.

                                                                        By:

                                   

December 30, 2003                                     /s/ Brent K. Jepson

Date                                                                Signature

 

                                                                        Brent K. Jepson

(printed name)

 

                                                                        Its  President

 

 

December 30, 2003                                     /s/ Brent K. Jepson

Date                                                                Brent K. Jepson

 

 

December 30, 2003                                     /s/ Gordon. W. H. Buzza, Jr.

Date                                                                Gordon, W. H. Buzza, Jr.

 

 

January 5, 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 5, 2004                                            /s/ Christian D. Van Dyck

Date                                                                Christian D. Van Dyck

                                                                        Investigator/Examiner