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OFFICE OF SECURITIES
121 STATE HOUSE STATION
IN THE MATTER OF: )
J.P. Turner & Company, L.L.C. ) CONSENT AGREEMENT
(CRD #43177) ) No. 05-055-CAG
This Agreement is entered into between the State of
WHEREAS, the parties agree as follows:
all relevant times, it has been unlawful in
2. J.P. Turner filed an application with the Office for licensing as a broker-dealer on April 16, 1997.
response to several inquiries from the Office of Securities regarding additional
information in connection with the firm’s pending broker-dealer application, J.P.
Turner informed the Office that during the period of October 10, 1997, and August
2, 2004, the firm had effected at least eight (8) transactions for the accounts
is the Office’s position that J.P. Turner has acted as a broker-dealer in
5. J.P. Turner has represented to the Office that the violations were inadvertent oversights.
6. Both parties desire an expeditious resolution of this matter.
NOW, THEREFORE, without trial or adjudication of any issue of fact or law, and without J.P. Turner admitting or denying that its conduct violated the Revised Maine Securities Act, it is agreed that:
1. J.P. Turner 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, J.P.Turner will pay the sum of $3,000 to the Office upon J.P. Turner’s execution of this Agreement; and
3. The Office will not take further action against J.P. Turner, 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 J.P. Turner.
September 16, 2005 s/William L. Mello, President
Date William L. Mello, President
J.P. Turner & Company, L.L.C.
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