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OFFICE OF SECURITIES
121 STATE HOUSE STATION
IN THE MATTER OF: )
) CONSENT AGREEMENT
Petersen Investments, Inc. ) No. 06-050-CAG
This Agreement is entered into by the
State of Maine Office of Securities (the "Office") and Petersen
Investments, Inc. (“Petersen”), CRD# 38537, a broker-dealer with its principal
place of business 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, 32 M.R.S.A. §§10301 and 10302.
made application for licensure as broker-dealer in the State of
response to inquiries from the Office, Petersen informed the Office in January
of 2006 that it had one
was not licensed as a broker-dealer in
5. Petersen has represented to the Office that it has always followed procedures to prevent accounts from being opened for residents of states in which the firm is not licensed and that it was not the firm’s intention to violate the Maine Revised Securities Act.
6. All parties desire an expeditious resolution of this matter.
NOW THEREFORE, without trial or adjudication of any issue of fact or law, and without Petersen admitting or denying that its conduct violated the Revised Maine Securities Act, it is agreed that:
1. Petersen 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 the Office seeking the imposition of a penalty for the allegations contained herein, Petersen will pay the sum of $3,000 to the Office upon Petersen’s execution of this Agreement; and
3. The Office will not take further action against Petersen based solely upon its unlicensed status during the period preceding and including the date of execution of the Agreement, PROVIDED, however, that this paragraph applies only to the transactions previously disclosed to the Office by Petersen.
February 9, 2006 s/Christa P. Riley, Owner
Date Christa P. Riley, Owner
Petersen Investments, Inc.
February 14, 2006 s/Michael J. Colleran
Date Michael J. Colleran
February 10, 2006 s/Bonnie E. Russell
Date Bonnie E. Russell
Assistant Securities Administrator
February 10, 2006 s/Cathy J. Williams
Date Cathy J. Williams