COMMONWEALTH OF MASSACHUSETTS
COMMISSIONER OF BANKS
Docket No. 2010-075-CO
In the Matter of
ENVIOS R.D. CORP. D/B/A/ PRONTO ENVIOS
New York, New York
Foreign Transmittal Agency License No(s): FT2581 et al.
WHEREAS, Envios R.D. Corp., d/b/a Pronto Envios, New York, New York, ("Pronto Envios" or the "Corporation"), a licensed foreign transmittal agency under Massachusetts General Laws chapter 169 has been advised of its right to Notice and Hearing pursuant to General Laws chapter 169, section 13, and having waived those rights, entered into a STIPULATION AND CONSENT TO THE ISSUANCE OF A CONSENT ORDER ("Consent Agreement") with representatives of the Division of Banks ("Division") dated June 21st, 2010, whereby, solely for the purpose of settling this matter, and without admitting any allegations or implications of fact or the existence of any violation of state or federal laws and regulations governing the conduct and operation of a foreign transmittal agency, Pronto Envios agrees to the issuance of this CONSENT ORDER ("Consent Order") by the Commissioner of Banks ("Commissioner");
WHEREAS, on February 5, 2010, the Division issued a TEMPORARY ORDER TO CEASE AND DESIST, Docket No. 2010-075 (the "Temporary Order"), against Pronto Envios which alleged that the Corporation had failed to demonstrate and maintain the character, reputation, integrity, and general fitness that would warrant the belief that its foreign transmittal business would be operated honestly, fairly, and soundly in the public interest as a result of the Corporation's failure to transmit funds received by Pronto Envios' Agents for transactions to beneficiaries in foreign countries within seven days following the receipt thereof;
WHEREAS, an examination/inspection of Pronto Envios was conducted pursuant to General Laws chapter 169, section 10, as of July 9, 2009 (the "2009 examination/inspection") and the Report of Examination/Inspection (the "Report") issued in conjunction with this Consent Order assessed the Corporation's level of compliance with applicable state and federal laws, rules, regulations and regulatory bulletins governing the conduct of those engaged in the business of a foreign transmittal agency in the Commonwealth;
WHEREAS, the parties now seek to resolve by mutual agreement, the matters identified in the Temporary Order;
WHEREAS, without this Consent Order constituting an admission by Pronto Envios of any allegations made or implied by the provisions of the Temporary Order; solely for the purpose of settlement of all alleged violations without protracted administrative proceedings and judicial review, Pronto Envios hereby waives its right to complete the hearing process relative to this proceeding and affirms that it is willing to take all necessary action as set forth in this Consent Order; and
WHEREAS, in recognition of the Division and Pronto Envios having reached the following mutual agreement under this Consent Order to fully resolve the matters raised by the Temporary Order, the Commissioner has terminated the Temporary Order on this 21st day of June 2010.
NOW COME the parties in the above-captioned matter, the Division and Pronto Envios, and stipulate and agree as follows:
- Immediately upon the execution of this Consent Order, Pronto Envios will refrain from engaging in the foreign transmittal business in Massachusetts, as that term is defined under Massachusetts General Laws chapter 169, the Division's regulations 209 CMR 44.00 et seq.
- Immediately upon the execution of this Consent Order, Pronto Envios will surrender all thirty-five (35) of the Corporation's Massachusetts foreign transmittal agency licenses, by returning the original license certificates to the Division at 1000 Washington Street, 10th Floor, Boston, Massachusetts 02118-6400.
- Pronto Envios will refrain from submitting an application to obtain a license from the Commissioner for a period of sixty (60) months from the effective date of this Consent Order.
- To the extent that Pronto Envios wishes to resume business as a foreign transmittal agency at the expiration of the 60-month term as set forth above, Pronto Envios shall be required to submit a completed application to obtain the relevant license from the Commissioner. The Commissioner shall have all of the discretion set forth within General Laws chapter 169 and the Division's regulation 209 CMR 44.00 et seq. in determining whether to issue a license to Pronto Envios to conduct the licensed business, provided however, that any such application shall not be denied solely on the basis of the Temporary Order.
- Pronto Envios shall submit payment in satisfaction of the full amount owed for the costs of the Division's 2009 examination/inspection as set forth in the relevant invoice issued to Pronto Envios. The payment shall be made payable to the "Commonwealth of Massachusetts" and mailed to Division of Banks, Commonwealth of Massachusetts, 1000 Washington Street, 10th Floor, Boston Massachusetts 02118-6400 within 30 days of receipt of the invoice. It being understood that failure to submit payment shall necessarily present grounds for a denial of any license application submitted to the Division by Pronto Envios, or its owners, whether submitted before or after the expiration of the 60-month term referenced above.
- The provisions of this Consent Order shall not limit, estop, or otherwise prevent the Division, or any other state agency or department, from taking any other action affecting Pronto Envios, its successors or assigns, fails to fully and promptly comply with the above provisions.
- This Consent Order shall become effective immediately upon the date of its issuance.
- The provisions of this Consent Order shall be binding upon Pronto Envios, its officers and directors, their successors and assigns, and those persons in active participation with it, directly or indirectly, acting individually or through any corporate or other entity.
- In accordance with the terms of the Consent Agreement entered by Pronto Envios and the Commissioner, Pronto Envios has waived all rights of appeal that it may have relative to this Consent Order or any of its provisions.
- The provisions of this Consent Order shall remain effective and enforceable except to the extent that, and until such time as, any provisions of this Consent Order shall have been modified, terminated, suspended, or set aside by the Commissioner or upon an order of a court of competent jurisdiction.
- This Consent Order and the Consent Agreement are the complete documents representing the resolution of this matter. There are no other agreements, promises, representations, or warranties other than those set forth in this Consent Order.
BY ORDER AND DIRECTION OF THE COMMISSIONER OF BANKS.
Dated at Boston, Massachusetts, this 21st day of June, 2010
By: Steven L. Antonakes
Commissioner of Banks
Commonwealth of Massachusetts