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COMMONWEALTH OF MASSACHUSETTS
COMMISSIONER OF BANKS
Docket No. 2010-075
FINDINGS OF FACT AND
TEMPORARY ORDER TO
CEASE AND DESIST
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.
The Commissioner of Banks ("Commissioner") having determined that ENVIOS R.D. CORP. d/b/a PRONTO ENVIOS, located at 2 Bennett Avenue, 3 rd Floor, New York, New York ("Pronto Envios" or the "Corporation") has engaged, or is engaged in, or is about to engage in, acts or practices constituting violations of Massachusetts General Laws chapter 169, and applicable regulations found at 209 CMR 44.00 et seq., hereby issues the following ORDER TO CEASE AND DESIST pursuant to General Laws chapter 169, section 13(b).
FINDINGS OF FACT
A. FAILURE TO DEMONSTRATE THE FINANCIAL RESPONSIBILITY, CHARACTER, REPUTATION, INTEGRITY, AND GENERAL FITNESS TO MAINTAIN A FOREIGN TRANSMITTAL AGENCY LICENSE
The commissioner may suspend or revoke any license issued pursuant to this chapter if he finds that: (a) the licensee has violated any provision of this chapter or any rule or regulation adopted hereunder or any other law applicable to the conduct of such business; or (b) any fact or condition exists which, if it had existed at the time of the original application for such license, would have warranted the commissioner to refuse to issue such license.
(b) The Commissioner may deny such an application [to engage in the business of a foreign transmittal agency] if the Applicant has:
1. violated any provision of M.G.L. c. 169 or 209 CMR 44.00;
2. violated or engaged in a pattern of violations of any state or federal law applicable to the conduct of the business of a foreign transmittal agency...P>
i. Failure to Transmit Funds
All money received for transmission to a foreign country by any licensee shall be forwarded to the person to whom the same is directed within seven days following receipt thereof…
Grounds for license revocation under M.G.L. c. 169, § 12 and the issuance of cease and desist orders under M.G.L. c. 169, § 13 shall include, but are not limited to, the following prohibited acts and practices by Licensees:
(5) failing to forward all money received for transmission to a foreign country to the person to whom the same is directed within seven days following receipt thereof.
ii. Failure to Timely Disclose Regulatory Actions
...Each application for a license shall be accompanied by an investigation fee to be determined annually by the commissioner of administration under the provisions of section three B of chapter seven. Said commissioner may reject an application for a license or an application for a renewal of a license if he finds that the financial responsibility, character, reputation, integrity and general fitness of the applicant and the members thereof if such applicant is a partnership or association, and of the officers and directors if the applicant is a corporation are not such as to warrant belief that the business will be operated in accordance with law and in the public interest.
Conclusions of Law
ORDER TO CEASE AND DESIST
After taking into consideration the FINDINGS OF FACT and CONCLUSIONS OF LAW stated herein, it is hereby:
BY ORDER AND DIRECTION OF THE COMMISSIONER OF BANKS.
Dated at Boston, Massachusetts, this 5th day of February, 2010
By: Steven L. Antonakes
Commissioner of Banks