SUITABILITY DATES OF ACTIVITY: 2/27/02 THRU 7/2/02

$150,000.00

$50,000.00

CLIENT MOVED A HIGH RISK PORTFOLIO FROM WUNDERLICH SECURITES IN FEBRUARY OF 2002, WHEN I RECEIVED THE ASSETS CLIENTS PORTFOLIO HAD GONE FROM $630,000 TO $230,000. IN THE FIVE MONTHS ASSETS WHILE THE ASSETS WERE WITH ME THE ACCOUNT DROPPED TO $90,000. THE CLIENT REFERRED ADDITIONAL FAMILY MEMBERS TO ME IN LATER HALF OF 2002 AND IN 2003. WHEN I MADE A BROKER DEALER CHANGE IN NOVEMBER OF 2004 FAMILY MEMBERS MOVED ACCOUNTS WITH ME TO NEW BROKER DEALER. IN 2004 CLIENT HAD FINANCIAL REVERSES FROM JOB CHANGE, IN MARCH 2005 CLIENT MADE VERBAL COMPLAINT TO OLD BROKER DEALER ABOUT LOSSES IN 2002. I AM STILL ACTIVELY INVOLVED AS FINANCIAL ADVISOR TO FAMILY OF CLIENT.

FAILURE TO FOLLOW INSTRUCTIONS, UNSUITABILITY, AND MISREPRESENTATION-CLIENT ALLEGED THAT REP FAILED TO EXECUTE SELL ORDER ON 08/02/2004 AS INSTRUCTED ON CELL PHONE.

$7,342.55

$1,455.05

FIRST SECURITIES COMPANY

Permitted to Resign

NONE FAILED TO NOTIFY TRADING DESK OF A GOVERNMENT BOND TRADE REFUSED BY A CUSTOMER. FAILED TO MAIL CONFIRMATION OF TRADE TO CUSTOMER SO THE TRADING DESK WOULD NOT FIND OUT ABOUT THE TRADE FOR SEVERAL DAYS, HOPING THAT THE MARKET WOULD COME BACK TO ALLOW THE TRADE TO BREAK EVEN. APPROXIMATE LOSS TO FIRM $50,000

I RESIGNED FROM FIRST SECURITIES. MY GROSS COMMISSION FROM THE MONTH WAS $24,000. FIRST SECURITIES USED THIS AMOUNT TO OFFSET THE LOSS WITH THE BALANCE BEING EATEN BY THE FIRM. NOT PROVIDED

BRENNER STEED, INC.

Voluntary Resignation

91701-2-S COMPLAINT FOR INJUNCITVE RELIEF AND DAMAGES FOR UNFAIR COMPETITION

JAMES W WALKTER REQUIRED TO RETURN TO BRENNER STEAD INC ALL DOCUMENTS OR ANY OTHER RECORDATION, INCLUDING DISCS USED WITH COMPUTERS, OF ANY AND ALL INFORMATION TAKEN BY JAMES WALKER WHICH WAS OBTAINED FROM BRENNER STEED IN C ALSO ORDERED NOT TO USE HIS CALL BOOK FOR ANY PURPOSE, RELATED TO THE SALE OF SECURITIES BY HIMSELF OR ANY OTHER PERSON, SHALL NOT USE OR MAKE REFERENCE TO COPIES OF SALES CONFIRMAITON DOCUMENTS RETAINED BY JAMES WALKER NOT PROVIDED