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                                                              STATE OF MAINE

                                                        OFFICE OF SECURITIES

                                                    121 STATE HOUSE STATION

                                                       AUGUSTA, MAINE 04333

 

________________________________

                                                                        )

IN THE MATTER OF:                                   )

                                                                        )

Fuller, Jones & Stivers, LLP                        )

Judith A. Fuller                                               )                       CONSENT AGREEMENT

Rendle A. Jones                                            )

                                                                        )                             No. 05-065-CAG

_______________________________  )

 

 

 

            This Agreement is entered into by the State of Maine Office of Securities (the “Office"), Fuller, Jones & Stivers, LLP (“FJS”), an investment adviser with a principal place of business at 179 Knowlton’s Shore Road, Liberty, Maine 04949, and Judith A. Fuller (“Fuller”) and Rendle A. Jones (“Jones”), investment adviser representatives affiliated with FJS.

 

 

            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 (the “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 Act to employ or contract with an individual as a representative of the investment adviser in Maine unless the individual is licensed;

 

3.                  The Office has reviewed the licensing records of FJS and of Fuller and Jones and, while FJS is and has been a licensed investment adviser, the Office has found that Fuller and Jones have never held an investment adviser representative license in Maine;

 

4.                  It is the Office’s position that Fuller and Jones have acted as investment adviser representatives in Maine without being licensed or exempt from licensing;

 

5.                  Fuller and Jones have represented to the Office that the failure to obtain investment adviser representative licenses was inadvertent; and

 

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 FJS, Fuller or Jones admitting or denying that their conduct violated the Act, it is agreed that:

 

1.  FJS, Fuller and Jones 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;

 

2.  In lieu of the Office seeking the imposition of a penalty for the allegations contained herein, FJS, Fuller and Jones will pay the sum of $3,000.00 to the Office upon their execution of this Agreement; and

 

3.  The Office will not take further action against FJS, Fuller and Jones based solely upon the unlicensed status of the two individual respondents during the period preceding and including the date of execution of this Agreement.

 

 

                                                                        Fuller, Jones & Stivers LLP

                                                                        By:

 

5/13/05                                                           /s/ Judith A. Fuller

Date                                                                Judith A. Fuller

                                                                        Its: Managing Partner

 

 

 

5/13/05                                                           /s/ Judith A. Fuller

Date                                                                Judith A. Fuller

 

 

 

5/16/05                                                           /s/ Rendle A. Jones

Date                                                                Rendle A. Jones

 

 

 

5/17/05                                                           /s/ Christine A. Bruenn

Date                                                                Christine A. Bruenn

                                                                        Securities Administrator

 


Reviewed by:

                                                           

5/17/05                                                           /s/ Michael W. Atleson

Date                                                                Michael W. Atleson

                                                                        Staff Attorney

 

Submitted by:

                                                           

5/17/05                                                           /s/ Christian D. Van Dyck

Date                                                                Christian D. Van Dyck

                                                                        Investigator/Examiner