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STATE OF MAINE
OFFICE OF SECURITIES
121 STATE HOUSE STATION
AUGUSTA, ME 04333-0121
CONSENT AGREEMENT 02-095-CAG
This
Consent Agreement is entered into between the Office of Securities and James L.
Paris (“Paris”), a natural person with a last known address of 1500 Beville Road,
Suite 606, Box 223, Daytona Beach, Florida
32114.
WHEREAS the parties agree as follows:
1.
At all relevant times,
2.
JLPFS was licensed as an investment adviser in Maine
from June 16, 1992, to December 31, 2001.
3.
On
4.
On
5.
On October 9, 2003, the Securities Administrator issued
an order vacating the Final Order as to respondent James L. Paris only.
6.
It is the position of the Office of Securities that Paris
acted unethically by accepting loans from two Maine investors who were clients
of JLPFS. Paris admits that he accepted
the loans but denies he acted unethically.
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 Paris admitting or
denying that his conduct violated the Revised Maine Securities Act, it is
agreed that:
1.
Paris shall not apply for any license in Maine as a
broker-dealer, investment adviser, sales representative, or investment adviser
representative, nor shall he otherwise act as, or associate with, a securities
issuer, broker-dealer, or investment adviser, or otherwise engage, participate,
or assist others in the issuance, offer, sale, or purchase of securities in
Maine. Further, Paris shall not apply
for any license in Maine to sell real estate, insurance, or other investments,
nor shall he otherwise act in Maine as a financial planner or as any other
financial or investment professional.
2.
Paris shall repay the principal from the loans
solicited from the two Maine investors.
In reliance upon Paris' representations as to his limited assets, the Securities
Administrator agrees that Paris shall make the payments pursuant to the
attached Schedule A. Pursuant to
Schedule A, the initial payments of $1,500.00 to each of the two Maine
investors shall be made by March 1, 2004.
All payments shall be by checks made payable to the Office of Securities
and forwarded directly to the Office of Securities for distribution to the two
Maine investors. Each check must be
received by the Office of Securities no later than the due date listed in the
attached Schedule A. If any payment is
not received within one week after the due date, it shall be considered a
breach of this consent agreement, and, within thirty days, Paris shall pay to
the Office of Securities the balance of the amounts due to the two Maine
investors.
3.
Paris shall cooperate fully with the Office of
Securities by promptly providing information, documents, and testimony, upon
reasonable request, in connection with any further action taken by the Office
of Securities against Carmen Paris.
4. If Paris fails to comply with any provision of this Consent Agreement, the Securities Administrator, at her sole and unreviewable discretion, may declare this entire Consent Agreement null and void.
5. The proceedings against Paris referenced in the Notice of Intent are dismissed by execution of this Consent Agreement.
6.
This Consent Agreement constitutes the entire agreement
between the Office of Securities and Paris, and Paris confirms that in entering
into this agreement he is not relying on any representations, promises, or
understandings other than those expressed herein.
Date: February 13,
2004 s/James
L. Paris
James
L. Paris
Date: February 18, 2004 s/Christine
A. Bruenn
Christine
A. Bruenn
Securities Administrator
Reviewed by:
Date: February 18, 2004 s/Bonnie
E. Russell
Bonnie
E. Russell
Assistant
Securities Administrator
Presented
by:
Date:
Michael
W. Atleson
Staff
Attorney
Schedule A to Consent Agreement
02-095
The Kittery,
Maine investor:
Payment
Deadline |
Amount |
March 1, 2004 |
$1,500.00 |
March 31, 2004 |
$1,500.00 |
April 30, 2004 |
$500.00 |
May 31, 2004 |
$500.00 |
June 30, 2004 |
$500.00 |
July 30, 2004 |
$500.00 |
August 31,
2004 |
$500.00 |
September 30,
2004 |
$500.00 |
October 31,
2004 |
$500.00 |
November 30,
2004 |
$500.00 |
December 31,
2004 |
$500.00 |
January 30,
2005 |
$500.00 |
February 28,
2005 |
$500.00 |
March 31, 2005 |
$500.00 |
April 30, 2005 |
$500.00 |
The Warren,
Maine investor:
Payment
Deadline |
Amount |
March 1, 2004 |
$1,500.00 |
March 31, 2004 |
$1,500.00 |
April 30, 2004 |
$500.00 |
May 31, 2004 |
$500.00 |
June 30, 2004 |
$500.00 |
July 30, 2004 |
$500.00 |
August 31,
2004 |
$500.00 |
September 30,
2004 |
$500.00 |
October 31,
2004 |
$500.00 |
November 30,
2004 |
$500.00 |
December 31,
2004 |
$500.00 |
January 30,
2005 |
$500.00 |
February 28,
2005 |
$500.00 |
March 31, 2005 |
$500.00 |
April 30, 2005 |
$500.00 |
May 31, 2005 |
$500.00 |
June 30, 2005 |
$500.00 |
July 30, 2005 |
$500.00 |
August 31,
2005 |
$500.00 |
September 30,
2005 |
$500.00 |
October 31,
2005 |
$500.00 |