Unlicensed Broker-Dealer Rescission Offer Form printable pdf download

Unlicensed Broker-Dealer Rescission Offer Form

BROKER-DEALER RESCISSION OFFER FORM

UNLICENSED BROKER-DEALER RESCISSION OFFER FORM

[Offeror Name]

[Offeror Address]

[Date]

[Investor Name]

[Investor Address]

RE: RESCISSION OFFER

Dear [Investor Name]:

On [Date of Transaction] you purchased [Number and Type of Security] in [Issuer/

Investment Name] for a total investment of $ [Total Dollar Amount Invested].

Our offer and sale of this investment to you may have violated some of the provisions of

the Maine Uniform Securities Act (the “Act”). Specifically, Sections 16401 and 16402 of

the Act prohibit a broker-dealer or agent from transacting business in Maine unless

licensed with the Maine Office of Securities (the “Office”) or exempt from licensing

under the Act. When we sold you the [Type of Security], [Name of broker-dealer/agent]

was not licensed with the Office or exempt from licensing. Therefore, Section 16509(4)

of the Act provides that we may be liable to you for effecting sales as an unlicensed

[broker-dealer/agent].

We are offering to repurchase your [Type of Security] from you for cash. If you accept

this offer, we will pay you the amount of your purchase price, $ [Total Dollar Amount

Invested], plus interest at [ * ]% from the date of your purchase, $ [Dollar Amount],

{minus the income you have received, $ [Dollar Amount]}, for a total repurchase price of

$ [Dollar Amount]. We will pay you this amount when we receive the certificates

representing your [Type of Security].

This offer extinguishes any right you may have to bring an action against [broker-dealer/

agent] for these possible violations of the Act, whether or not you accept the offer.

Unlicensed Broker-Dealer Rescission Offer Form