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STATE OF
OFFICE OF SECURITIES
121 STATE HOUSE STATION
_______________________________________
)
IN THE MATTER OF: )
)
Summit Brokerage Services, Inc. ) CONSENT AGREEMENT
_______________________________________)
This Agreement is entered into
between the State of Maine Office of Securities (“Office of Securities”) and Summit
Brokerage Services, Inc. (“
a
broker-dealer located 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, Title 32 Maine Revised Statutes Annotated § 10101 et seq.
2.
3.
On
March 18, 2001, the Office of Securities sent a letter to Summit’s clearing
firm, First Clearing Corporation (“First Clearing”), requesting that First
Clearing review its records to determine whether any of Summit’s principals,
sales representatives, or affiliates had engaged in securities transactions
with Maine residents within the last six years.
4.
On
5.
In
response to the
6.
On
7.
On
8.
Between
9.
It
is the Office of Securities’ position that
10.
11. Both parties desire an expeditious
resolution of this matter.
NOW, THEREFORE, without trial or adjudication of
any issue of fact or law, and without
1.
Summit
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 of Securities seeking the imposition of a penalty for the
allegations contained herein,
3.
The
Office of Securities will not take further action against
December
8, 2003 /s/
Marshall T. Leeds, President, CEO
Date Marshall T.
Leeds, President, CEO
Summit
Brokerage Services, Inc.
Date Christine
A. Bruenn
Securities
Administrator
Reviewed by:
Date Bonnie
E. Russell
Assistant
Securities Administrator
Presented by:
December
9, 2003 /s/
Cathy J. Williams
Date Cathy
J. Williams
Licensing
Coordinator