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IN THE MATTER OF: ANDREW AUSTIN SIRVIS * * * * * * * * * * * * * * * * * * * |
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CONSENT ORDER No. CO-07-7404-S |
PRELIMINARY STATEMENT
WHEREAS, the Banking Commissioner (the “Commissioner”) is charged with the administration of Chapter 672a of the Connecticut General Statutes, the Connecticut Uniform Securities Act (“Act”), and Sections 36b-31-2 et seq. of the Regulations of Connecticut State Agencies promulgated under the Act (the “Regulations”);
WHEREAS, Andrew Austin Sirvis (“Sirvis”) was associated with Great Eastern Securities, Inc. (CRD No. 2061) from approximately March, 2006 to January 19, 2007, but was not registered as an agent of Great Eastern Securities, Inc. under the Act;
WHEREAS, Sirvis is not currently registered as a broker-dealer agent of any firm under the Act;
WHEREAS, the Commissioner, through the Securities and Business Investments Division (the “Division”) of the Department of Banking, has conducted an investigation (the “Investigation”) pursuant to Section 36b-26(a) of the Act into the activities of Sirvis to determine whether Sirvis had violated, was violating or was about to violate any provision of the Act or the Regulations;
WHEREAS, Section 36b-31(a) of the Act, provides, in relevant part, that “[t]he commissioner may from time to time make … such … orders as are necessary to carry out the provisions of sections 36b-2 to 36b-33, inclusive”;
WHEREAS, Section 4-177(c) of the Connecticut General Statutes provides, in relevant part, that “[u]nless precluded by law, a contested case may be resolved by . . . consent order”;
WHEREAS, the Commissioner finds that the entry of this Consent Order is necessary or appropriate in the public interest or for the protection of investors and consistent with the purposes fairly intended by the policy and provisions of the Act;
WHEREAS, without holding a hearing and without trial or adjudication of any issue of fact or law, and prior to the initiation of any formal proceeding, the Commissioner and Sirvis reached an agreement, the terms of which are reflected in this Consent Order, in full and final resolution of the matters described herein;
WHEREAS, Sirvis represented to the Division that, shortly after joining Great Eastern Securities, Inc., he requested to be registered in Connecticut and was informed by the firm's compliance department that he was registered in Connecticut;
WHEREAS, Sirvis, without admitting or denying any of the Commissioner’s allegations or findings, expressly consents to the Commissioner’s jurisdiction under the Act and to the terms of this Consent Order;
WHEREAS, Sirvis, through his execution of this Consent Order, represents and agrees that none of the violations alleged in this Consent Order shall occur in the future;
ALLEGATIONS
WHEREAS, as a result of the Investigation, the Division obtained evidence that, in or about March 2006, Sirvis violated Section 36b-6(a) of the Act by transacting business as an agent of Great Eastern Securities, Inc. for one or more Connecticut residents and at a time when Sirvis was not registered as an agent of Great Eastern Securities, Inc. under the Act;
FINDINGS OF THE COMMISSIONER AS TO EVIDENTIARY SUFFICIENCY TO INITIATE ADMINISTRATIVE PROCEEDINGS
WHEREAS, the Commissioner finds that sufficient grounds would exist to initiate administrative proceedings under Sections 36b-27(a) and 36b-27(d) of the Act against Sirvis based on the following, all of which are more fully described above, and which Sirvis neither admits nor denies:
| In or about March 2006, Sirvis violated Section 36b-6(a) of the Act by transacting business as an agent of Great Eastern Securities, Inc. for one or more Connecticut residents and at a time when Sirvis was not registered as an agent of Great Eastern Securities, Inc. under the Act; |
CONSENT TO WAIVER OF PROCEDURAL RIGHTS
WHEREAS, Sirvis, through his execution of this Consent Order, voluntarily waives the following rights:
| 1. |
To be afforded written notice and an opportunity for a hearing within the meaning of Section 36b-27 of the Act and Sections 4-177(a) and 4-177(b) of the Connecticut General Statutes; |
| 2. |
To present evidence and argument and to otherwise avail himself of Section 36b-27 of the Act and Section 4 177c(a) of the Connecticut General Statutes; |
| 3. | To present his position in a hearing in which he is represented by counsel; |
| 4. | To have a written record of the hearing made and a written decision issued by a hearing officer; and |
| 5. | To seek judicial review of, or otherwise challenge or contest the matters described herein, including the validity of this Consent Order. |
CONSENT TO ENTRY OF SANCTIONS
WHEREAS, Sirvis, through his execution of this Consent Order, consents to the Commissioner’s entry of a Consent Order imposing on him the following sanctions:
| 1. | Sirvis shall cease and desist from engaging in conduct constituting or which would constitute a violation of the Act or any regulation or order under the Act; |
| 2. |
No later than the date this Consent Order is entered by the Commissioner, Sirvis shall remit to the department, by certified check made payable to “Treasurer; State of Connecticut” the sum of five hundred dollars ($500) which shall constitute an administrative fine; |
CONSENT ORDER
THE COMMISSIONER HEREBY ORDERS THAT:
| 1. |
The Sanctions set forth above be and are hereby entered; |
| 2. |
If Sirvis fails to comply with any terms of this Consent Order or if any representation made by Sirvis and set forth herein is subsequently determined to be untrue, the Commissioner may initiate administrative or judicial proceedings against Sirvis to enforce this Consent Order or to sanction Sirvis for violating an order of the Commissioner, or may take any other action authorized under the Act or any other applicable law, including the issuance of fines or penalties as provided by the Act; |
| 3. | This Consent Order shall not preclude additional proceedings by the Commissioner against Sirvis for acts or omissions not specifically addressed in this Consent Order or for acts and/or omissions that do not arise from the facts or transactions addressed herein; and |
| 4. | This Consent Order shall become final when issued. |
________/s/_________
Howard F. Pitkin
Banking Commissioner
So ordered at Hartford, Connecticut
this 2nd day of October 2007.
CONSENT TO ENTRY OF ORDER
I, Andrew Austin Sirvis, state that I have read the foregoing Consent Order; that I know and fully understand its contents; that I agree freely and without threat or coercion of any kind to comply with the terms and conditions stated herein; and that I voluntarily consent to the entry of this Consent Order, expressly waiving any right to a hearing on the matters described herein.
_________/s/_________________
Andrew Austin Sirvis
On this the 25th day of Sept. 2007, before me, Margaret A. Wolf, the undersigned officer, personally appeared Andrew Austin Sirvis, known to me (or satisfactorily proven) to be the person whose name is subscribed to the within instrument and acknowledged that he executed the same for the purposes therein contained.
In witness whereof I hereunto set my hand.
____________/s/___________________
Notary Public
Date Commission Expires: 9-19-09