The Gold Country application for Broker-dealer license with the State of Wisconsin:
BEFORE THE DIVISION OF SECURITIES DEPARTMENT OF FINANCIAL INSTITUTIONS STATE OF WISCONSIN
In the Matter of GOLD COUNTRY SECURITIES, INC.
PETITION FOR ORDER
Respondent.
File No. S-99049(LX)
The staffs of the Licensing & Compliance Section and the Enforcement Unit, Registration & Enforcement Section, of the Division of Securities, Department of Financial Institutions, State of Wisconsin have conducted an investigation in this matter pursuant to sec. 551.36, Wis. Stats. and as a result thereof allege as follows:
1. Gold Country Securities, Inc. ("Gold Country") is a broker-dealer (CRD #20375) with a last known address 500 Old Colony Rd., Suite 318, Garden City, NY 11530;
2. On June 29, 1998 Gold Country applied through the CRD to become licensed as a broker-dealer in Wisconsin;
3. On June 30, 1998 the staff notified Gold Country of several items needed to complete its application and that those items must be filed by December 29, 1998 or the staff would ask the Administrator to deny its application;
4. On January 4, 1999, the staff sent a reminder letter to Gold Country giving it 5 more days to contact the staff;
5. On February 4, 1999, the staff sent a letter by certified mail again asking the firm to complete its application or withdraw its application by February 22, 1999;
6. To date, the staff has not received the name of an options principal who has passed series 4 exam or a written statement that no options business will be pursued in Wisconsin;
7. The failure of Gold Country to complete its application, as described above, provides a basis, pursuant to sec. 551.34(1)(a), Wis. Stats for denial of its license application.
THEREFORE, the staffs of the LIcensing& Compliance SEction and the Enforcement Unit petition the Administrator for the issuance of the attached Order.
DATED this [17th] day of [March], 1999.
David A. Cohen
Supervising Attorney
Enforcement Unit
Barbara R. Kerl
Licensing Examiner
Licensing & Compliance Section
BEFORE THE DIVISION OF SECURITIES DEPARTMENT OF FINANCIAL INSTITUTIONS STATE OF WISCONSIN
In the Matter of GOLD COUNTRY SECURITIES, INC.
PETITION FOR ORDER
Respondent.
File No. S-99049(LX)
Based upon the attached Petition for Order I find that this action is necessary and appropriate in the public interest and for the protection of investors;
Therefore pursuant to secs. 551.34(1) and 551.63, Wis. Stats.,
IT IS ORDERED THAT:
The broker-dealer license of Gold Country Securities, Inc. is hereby denied.
EXECUTED at Madison, Wisconsin, this [13th] day of [MAY], 1999.
Patricia D. Struck
Administrator
Division of Securities
NOTICE:
Under sec. 551.61(2). Wis. Stats., within thirty (30) days after any Order has become effective without a hearing, any interested party may file a written request with the Administrator of the Division of Securities for a hearing in respect to any matters determined by the Order. A request for hearing shall be in the form of a petition for hearing and shall, under SEC 8.01, Wis. Adm. Code, plainly admit or deny each allegation, finding or conclusion in the Order and incorporated papers (unless the petitioner lacks sufficient knowledge or information to permit an admission or denial, in which case the petition shall so state, and such statement shall have the effect of a denial), and shall state all affirmative defenses.
You are advised that any willful violation of an Order issued by the Administrator of the Division of Securities of the State of Wisconsin Department of Financial Institutions under Ch. 551, Wis. Stats., is a criminal offense punishable under the provisions of sec. 551.58 Wis. Stats.
wdfi.org |
