CLIENT CLAIMS MISMANAGEMENT OF HIS ACCOUNT THROUGH LACK OF INVESTMENT STRATEGY AND PLAN, EXCESSIVE TURNOVER AND UNSUITABILITY.

$68,857.57

CUSTOMER ALLEGES MISREPRESENTATIONS MADE IN HANDLING OF ACCOUNT CAUSED ACCOUNT VALUE TO DECREASE FROM $116,228 TO $55,620 IN LITTLE OFVER ONE YEARS TIME. ALLEGED ACTIVITY OCCURRED BETWEEN 3/00 AND 5/01.

$60,607.70

$12,000.00

THIS ARBITRATION WAS SETTLED IN THE AMOUNT OF $12000.00

POOR PERFORMANCE

$5,001.00

CUSTOMER'S STOCK SHOULD HAVE BEEN SOLD SO THAT HIS LOSSES WOULD BE LESS.

$32,000.00

FLORIDA DEPT OF BANKING AND FINANCE,DIVISION OF SECURITIES

THE DEPARTMENT CHARGED RESPONDENTS WITH VIOLATIONS OF CHAPTER 517, FLORIDA STATUTES, INCLUDING: SALE OF UNREGISTERED SECURITIES, ENGAGING IN A SCHEME OR ARTIFICE TO DEFRAUD, AND FAILING TO MAINTAIN REQUIRED BOOKS AND RECORDS. RESPONDENTS WERE ALSO CHARGED WITH ENGAGING IN PROHIBITED BUSINESS PRACTICES: CHARGING UNREASONABLE MARK-UPS, ENTERING TRANSACTION AT PRICES NOT REASONABLY RELATED TO CURRENT MARKET PRICES, CHURNING, SUITABILITY, UNAUTHORIZED TRADING, FAILURE TO PROVIDE FINAL OR PRELIMINARY PROSPECTUS, ACTED AS CUSTODIAN FOR FAILURE TO PROPERLY SUPERVISE PERSONS. ADDITIONALLY, THE DEPARTMENT IS ALLEGING VIOLATIONS OF ARTICLE III, NASD RULES OF FAIR PRACTICE: FREE-RIDING AND WITHHOLDING, EXCESSIVE MARK-UPS, FAILURE TO OBSERVE HIGH STANDARDS OF COMMERCIAL HONOR, CHURNING UNAUTHORIZED TRADING, UNFAIR PRICES IN OVER-THE-COUNTER TRANSACTIONS, FAILURE TO ESTABLISH, MAINTAIN, AND ENFORCE WRITTEN SUPERVISORY PROCEDURES, CREATING FICTITIOUS ACCOUNTS, UNAUTHORIZED USE OF CUSTOMER FUNDS ON SECURITIES, AND FAILURE TO SUPERVISE. THE RELIEF SOUGHT AGAINST RESPONDENTS FROM THE DEPARTMENT IS REVOCATION, FINE, AND EMERGENCY CEASE AND DESIST.

Stipulation and Consent

Monetary/Fine

$10,000.00

Cease and Desist/Injunction

SEE ITEM #13

SEE ITEM #13

22E2, 22E4 & 22E5 SHOULD BE ANSWERED "NO" BECAUSE ALL RESTRICTIONS WERE LIFTED AND MADE NULL AND VOILD.

NATIONAL ASSOCIATION OF SECURITIES DEALERS, INC.

Consent

Monetary/Fine

$3,000.00

Censure

Suspension

I TOOK THE FINE & SUSPENSION TO AVERT A DRAWN OUT PROCESS. I WAS NOT FOUND INNOCENT OR GUILTY. I SAVED THE CLIENT $1800 BY DOING THE TRADE. I THOUGHT I WAS DOING THE RIGHT THING BY THE CLIENT.