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OFFICE OF SECURITIES
121 STATE HOUSE STATION
IN THE MATTER OF: )
Biondo Asset Management LLC ) CONSENT AGREEMENT
(CRD #129690) ) No. 06-013-CAG
This Agreement is entered into between the State of
WHEREAS, the parties agree as follows:
all relevant times, it has been unlawful in
Biondo has not been licensed in
3. Biondo filed an application with the Office for licensing as a broker-dealer on April 15, 2004.
response to inquiries from the Office, Biondo disclosed
that it had effected at least forty-one (41) transactions for the accounts of
is the Office’s position that Biondo has acted as a
6. Biondo has represented to the Office that the violations were inadvertent oversights.
7. Both parties desire an expeditious resolution of this matter.
NOW, THEREFORE, without trial or adjudication of any issue of fact or law, and without Biondo admitting or denying that its conduct violated the Revised Maine Securities Act, it is agreed that:
1. Biondo 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, Biondo will pay the sum of $3,000 to the Office upon Biondo’s execution of this Agreement; and
3. The Office will not take further action against Biondo, based upon its unlicensed status during the period preceding and including the date of execution of this Agreement, PROVIDED, however, that this paragraph applies only to those transactions previously disclosed to the Office by Biondo.
September 14, 2005 s/Joseph R. Biondo, C.E.O.
Date Joseph R. Biondo, C.E.O.
Biondo Asset Management, LLC
September 21, 2005 s/Michael J. Colleran
Date Michael J. Colleran
September 21, 2005 s/Bonnie E. Russell
Date Bonnie E. Russell
Assistant Securities Administrator
September 20, 2005 s/Cathy J. Williams
Date Cathy J. Williams