New York City-based securities broker-dealer Meyers Pollock Robbins Inc. has entered a plea of no contest to two felony securities violations in 3rd District Court in Utah.

The firm will have to pay a criminal fine of $10,000 for the violations and pay another $15,000 to the state for its investigative costs, according to the sentence by Judge Michael K. Burton.According to a press release from Utah Attorney General Jan Graham, the charges resulted from solicitations made by Meyers Pollock and one of its agents to customers in Utah.

The firm made calls to solicit securities transactions, even though the agent was not licensed in Utah, the press release said. It said the firm then used "improper practices" to cover up its lack of a license and submitted false information to the state during its investigation.

The agent, Harry Son, pleaded guilty on March 25 to two misdemeanors and agreed to testify against Meyers Pollock. The firm entered its no-contest pleas May 14 to charges of securities fraud and employing an unlicensed securities agent.