VARIOUS SECURITIES LAW VIOLATIONS.

$200,000.00

$48,000.00

WITHOUT ADMITTING LIABILITY, DEAN WITTER AGREED TO PAY $48,000. MY CONTRIBUTION TO THE SETTLEMENT WAS $4,500. I DENIED ANY WRONDOING. THE ACTIVITY IN THE ACCOUNT WAS CONSISTENT WITH THE OBJECTIVES IDENTIFIED BY THE CLIENTS. ALL TRANSACTIONS WERE CONFIRMED IN WRITING TO THE CLIENTS AND THEY RECEIVED MONTHLY STATEMENTS. THE CLIENTS HAD NO COMPLAINTS UNTIL THE INVESTMENTS DECLINED IN VALUE. IF THE HEARING HAD BEEN HELD, I STRONGLY BELIEVE THE ARBITRATORS WOULD HAVE RULED IN MY FAVOR.

DEAN WITTER REYNOLDS INC.

Discharged

ECDA FILE #92-2359 MISAPPROPRIATION AND/OR COMMINGLING OF CLIENT FUNDS AND CONDUCTING UNAPPROVED OUTSIDE BUSINESS ACTIVITIES FOR REMUNERATION

TERMINATION BY THE FIRM. DISTRICT ATTORNEY'S OFFICE CLOSED CRIMINAL INVESTIGATION (WITHOUT INDICTMENT). DEAN WITTER REYNOLDS, INC. TERMINATED MR. ARORA'S EMPLOYMENT FOR ADMITTED COMMINGLING OF $8,150 CLIENT FUNDS AND CONDUCTING UNAPPROVED BUSINESS ACTIVITIES FOR REMUNERATION ON TWO OCCASIONS. Not Provided

DUE TO THE 1987 MARKET CRASH THE CUSTOMER WAS ASSIGNED TWO (2) STOCKS BECAUSE OF HAVING WRITTEN UNCOVERED PUTS. THIS COMPLAINT WAS INITIATED BECAUSE [CUSTOMER'S] BROTHER [FAMILY MEMBER] WAS ABLE TO RECOVER SOME MONEY FROM DEAN WITTER.

$30,000.00

$12,500.00

SETTLEMENT OF $12,000 WHICH WAS FAR LESS THAN THE CUSTOMER WAS CLAIMING, OF WHICH $4,000 PLUS WAS PAID BY ME. NOT PROVIDED

CUSTOMERS HAD SOLD PUTS AND THEY WERE ASSIGNED APPROXIMATELY $10,000 WORTH OF STOCK THEREBY INCURRING SIGNIFICANT MARGIN COSTS. CUSTOMERS ALLEGED THAT MANY OF THE TRADES WERE UNAUTHORIZED ALTHOUGH THEY CONCEDED THAT THEY WERE MADE AWARE OF THE TRANSACTION SHORTLY AFTER THEY OCCURRED. THE CUSTOMERS ALSO ALLEGED THAT THEY WEREN'T FULLY INFORMED OF THE RISKS OF SELLING NAKED PUTS.

$37,899.00

DEAN WITTER SETTLED THE COMPLAINT FOR THE SUM OF $37,899.00