DECEASED CLIENT'S REPRESENTATIVE ALLEGED MISREPRESENTATION AND UNSUITABLE ANNUITY INVESTMENT 1999 DAMAGES UNSPECIFIED

$17,294.54

THE CLAIM WAS SETTLED BY SB FOR $17,294.54 WITH MANULIFE CONTRIBUTING AN ADDITIONAL 1/3RD (I.E. $8,647.27).

NATIONAL ASSOCIATION OF SECURITIES DEALERS, INC.

Consent

Monetary/Fine

$1,500.00

Censure

FOR THE PURPOSE OF THIS PROCEEDING ONLY, I CONSENTED WITHOUT ADMITTING OR DENYING THE ALLEGATIONS TO THE COMMITTEE'S FINDINGS OF FACT AND ON 8C. NOTWITHSTANDING THE FOREGOING, I MAINTAIN THAT I SOLD 50 SHARES OF (WOWI) STOCK ISSUE TO A RELATIVE IN ACCORDANCE WITH THE ACCEPTION PROVIDED UNDER ARTICLE III SECTION 1.

SUITABILITY OF EQUITY INVESTMENTS CLAIMANTS SOUGHT $746,000

$746,000.00

$47,500.00

THE AWARD WAS FOR $47,500 OF WHICH I CONTRIBUTED $5,000 TOWARD PAYMENT OF THE AWARD I WAS APPROACHED BY CLAIMANTS TO ACT AS THEIR STOCKBROKER. THE CLAIMANTS WERE EDUCATED AND KNOWLEDGEABLE INDIVIDUALS IN BUSINESS MATTERS. I WAS ADVISED THAT THEY WERE INTERESTED IN INVESTING IN THE EQUITY MKTS. THEY HAD ABSOLUTE DISCRET DISCRETION OVER THEIR A/C'S AND ACKNOWLEDGED EACH AND EVERY TRADE ON THEIR BEHALF FOR EACH OF THEIR A/C'S. ALL THE SECURITIES PURCHASED WHICH TOTALED 20 SEPARATE PURCHASES IN ALL WERE OF LARGE CAPITALIZED STOCKS TRADING ON THE NYSE, W/THE EXCEPTION OF 2 OTC SECURITIES MOREOVER THE MAJORITY OF THEIR ASSETS WERE INVESTED IN INSURANCE ANNUITIES AND MUTUAL FUNDS. THE MAJORITY OF MY RECOMMENDATIONS WERE BASED ON 5B RESEARCH EXCEPT FOR THE OTC SECURITIES WHICH WERE BASED ON MY ANALYSIS OF PUBLICLY AVAILABLE MATERIAL. THE CLAIMANTS ALLEGATIONS WERE TOTALLY W/OUT MERRIT, ALL TRADING IN THE A/C'S WERE CONSISTANT W/THE EXPRESSED DESIRE AND OBJECTIVES OF CLAIMANTS AND W/IN THEIR FINANCIAL CABABAILITIES AS REPRESENTED TO YOU.