Securities

STIPULATION AND CONSENT AGREEMENT

            The Securities Division of the Vermont Department of Financial Regulation (the “Department”), Merrill Lynch, Pierce, Fenner & Smith Incorporated (“Merrill Lynch”) and Lawrence K. Barber (“Barber”) hereby stipulate and agree as follows:

FINAL CEASE AND DESIST ORDER

STIPULATION AND CONSENT ORDER

This Stipulation and Consent Order (the “Order”) is entered this ___ day of _____, 2018 by and among D.A. Davidson and Co. (“Respondent” or “the Firm”), and the State of Vermont Department of Financial Regulation (“Department”).

CEASE AND DESIST ORDER

The Commissioner of the Vermont Department of Financial Regulation (“Commissioner”), based on the Ex Parte Motion for Cease and Desist Order filed by the Securities Division and the attachment thereto, finds that grounds exist to order that the above-named Respondents immediately cease and desist from violating the Vermont Uniform Securities Act, 9 V.S.A. Chapter 150 (“the VUSA”), and hereby issues the following Findings of Fact, Conclusions of Law, Order and Notice of Right to Hearing.

FINDINGS OF FACT

Summary of Findings

STIPULATION AND CONSENT ORDER

            This stipulation and Consent Order (Order) is entered the _______day of _________, 2018, by and among Toro Jax Holdings, LLC (Respondent), and the State of Vermont Department of Financial Regulation (Department). 

            WHEREAS, the Commissioner of the Department is responsible for administering and enforcing the Vermont Uniform Securities Act, Title 9, Chapter 150 of the Vermont Statutes, and the Vermont Securities Regulations, Rule S-2016-01, pursuant to which the Department has conducted a review of the Respondent; and