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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. (“
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.
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.
response to the
is the Office of Securities’ position that
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.
lieu of the Office of Securities seeking the imposition of a penalty for the
allegations contained herein,
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
Date Bonnie E. Russell
Assistant Securities Administrator
December 9, 2003 /s/ Cathy J. Williams
Date Cathy J. Williams