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MLP REAL ESTATE SECURITIES, INC.
(CRD Number 140383)
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WHEREAS Section 36b-31-7a of the Regulations under the Act provides that:
WHEREAS Section 36b-15(a) of the Act provides, in part, that:
NOW THEREFORE, THE COMMISSIONER ORDERS AS FOLLOWS:
|(1)||For two years, commencing on the date this Consent Order is entered by the Commissioner, the Applicant and/or its successors in interest shall submit to the Division Director a written report each calendar quarter 1) describing any securities-related written reprimands, censures or warnings issued by the Applicant to its personnel and involving Connecticut securities activity (such written reprimands, censures or warnings referred to collectively as “Reprimands”) and any securities-related complaints, actions or proceedings (including arbitrations) (such complaints, actions or proceedings referred to collectively as "Complaints") involving entities and individuals located in Connecticut and initiated against the Applicant, its successors in interest or any of the Applicant’s officers, directors, control persons, agents, employees or representatives for the quarter; 2) providing information on the disposition of any such Reprimands or Complaints, or on any Reprimands or Complaints reflected in an earlier report filed pursuant to this paragraph; and 3) attaching copies of such Complaints or Reprimands and any dispositional documents. If no securities-related Complaints or Reprimands exist for the quarter, the report shall so indicate. The first such|
report shall be due no later than ten business days following the close of the quarter ending June 30, 2007, and the final report shall be due no later than ten business days following the close of the quarter ending June 30, 2009;
|(2)||For two years, commencing on the date this Consent Order is entered by the Commissioner, the Applicant shall restrict its business to institutional investors and to individuals or entities qualifying as "accredited" under Rule 501(a) of federal Regulation D, 17 C.F.R. 230.501(a) and whose status as an “accredited investor” has been verified by the Applicant. During such two year period, the Applicant shall further restrict its business to the offer and sale of securities private placements that have been registered under the Act or for which an exemptive claim or claim of covered security status has been filed pursuant to Section 36b-21 of the Act;|
|(3)||The Applicant shall establish, maintain, and implement such supervisory procedures and monitoring practices as are necessary to ensure that the Applicant adheres to the restrictions imposed under paragraphs (1) and (2) above;|
|(4)||No later than June 30, 2009, the Applicant shall submit to the Division Director a written certification attesting that the Applicant, its officers, directors, agents and representatives have complied with the restrictions imposed by paragraphs (1) and (2) above;|
|(5)||Nothing in this Consent Order Conditioning Registration as a Broker-dealer shall preclude the Applicant from applying in writing to the Division Director for relief from the restrictions in paragraphs (1) and (2) above prior to the expiration of the two year period applicable to such restrictions, if the Applicant demonstrates that it has retained additional qualified individuals to serve as active officers or managers of the Applicant. As used in this paragraph, “qualified” shall mean meeting the experience requirements in Section 36b-31-7a of the Regulations;|
|(6)||Entry of this Consent Order Conditioning Registration as a Broker-dealer by the Commissioner is without prejudice to the right of the Commissioner to take enforcement action against the Applicant based upon a violation of this Consent Order or the basis for its entry if the Commissioner determines that compliance is not being observed with the terms hereof or if any representation or undertaking made by the Applicant in connection with its application for registration is subsequently discovered to be untrue or unfulfilled;|
|(7)||Effective on the date this Consent Order is entered by the Commissioner, the name “MLP Real Estate Securities, Inc.” shall be entered on the Register of Broker-dealers pursuant to Section 36b-8 of the Act; and|
|(8)||This Consent Order Conditioning Registration as a Broker-dealer shall become final when entered.|
Howard F. Pitkin
this 25th day of April 2007.
CONSENT TO ENTRY OF ORDER
I, Mark Leonard Panattoni, state on behalf of MLP Real Estate Securities, Inc. that I have read the foregoing Consent Order Conditioning Registration as a Broker-dealer; that I know and fully understand its contents; that I am authorized to execute this Consent Order Conditioning Registration as a Broker-dealer on behalf of MLP Real Estate Securities, Inc.; that MLP Real Estate Securities, Inc. agrees freely and without threat or coercion of any kind to comply with the terms and conditions stated herein; and that MLP Real Estate Securities, Inc. consents to the issuance of this Consent Order Conditioning Registration as a Broker-dealer, expressly waiving any right to a hearing on the matters described herein.
MLP Real Estate Securities, Inc.
Mark Leonard Panattoni
On this 24th day of April, 2007, personally appeared Mark Leonard Panattoni, signer of the foregoing Consent Order Conditioning Registration as a Broker-dealer, who, being duly sworn, did acknowledge to me that he was authorized to execute the same on behalf of MLP Real Estate Securities, Inc., a corporation, and acknowledged the same to be his free act and deed, before me.
My Commission Expires: January 30, 2009