California Department of Insurance

Failure to disclose disciplinary action on insurance renewal application

Order

Monetary Penalty other than Fines

$2,000.00

Revocation

CA

SUSPENSION FROM ANY POSITION OF EMPLOYMENT, MANAGEMENT OR CONTROL OF BROKER-DEALER OR INVESTMENT ADVISER FOR A PERIOD OF SIX (6) MONTHS TO COMMENCE 5/19/97 AND END ON 11/19/97.

Decision

Suspension

SUSPENSION

THE ALLEGATIONS ARE DENIED BY WOOLLEY. IN NO WAY DID HE SIGN MANAGERS NAME WITHOUT AUTHORIZATION. MANAGER JAMES T RINER LIED TO NASD DISTRICT COMMITTEE #2. WOOLLEY CONSENTED TO FINDINGS IN ORDER TO AVOID FURTHER FINANCIAL LOST AND LEGAL EXPENSE. HIS DECISIONS WERE BASED ON PURELY FINANCIAL DECISIONS.

NATIONAL ASSOCIATION OF SECURITIES DEALERS, INC.

Decision & Order of Offer of Settlement

Monetary/Fine

$30,000.00

Censure

Suspension

BY SIGNING OFFER OF SETTLEMENT, I DO NOT ADMIT SIGNING MANAGERS NAME WITHOUT AUTHORIZATION. IT IS NOT AN ADMITTANCE OF GUILT. NO FRAUD OR DECEIT WAS USED OR TAKING OF ANY PROPERTY. RESPONDENT FELT LEGAL COSTS WERE PROHIBITED AND NEEDED TO PROCEED WITHOUT FURTHER LEGAL WRONGDOING. BRANCH MANAGER DID REVIEW SIGNATURES AND AUTHORIZED. BRANCH MANAGER LIED TO PROTECT HIMSELF.

TITAN VALUE EQUITIES

Discharged

E02950786 ALLEGATIONS OF SIGNING CLIENTS AND MANAGERS NAMES WITHOUT AUTHORIZATION TERMINATED BY TITAN VALUE EQUITIES FOR CAUSE ON 5/12/95

COMPLAINT FILED BY NASD DBCC DISTRICT 2 ADMINISTRATIVE COMPLAINT. ALLEGATIONS OF SIGNING MANAGERS NAME ON SIX SEPARATE DOCUMENTS WITHOUT AUTHORIZATION VIOLATED RULE 2110. COMPLAINT C02960040. OFFER SETTLEMENT SIGNED NOT ADMITTANCE OF GUILT OR FAILURE TO HAVE AUTHORIZATION SETTLEMENT REQUIRES CENSURE, FINED $30,000 AND SUSPENDED FOR SIX MONTHS FROM ASSOC WITH NASD REQUIRED ALSO TO RETAKE THE EXAMS, SERIES 7. ALLEGATIONS OF SIGNING CLIENTS NAMES WITHOUT AUTHORIZATION IS INCORRECT. NASD CLEARED ME OF THIS ALLEGATION. BRANCH MANAGER SIGNATURE WERE REVIEWED WITH MANAGER.

NATIONAL ASSOCIATION OF SECURITIES DEALERS, INC.

COMPLAINT NO. C01950005 FILED FEBRUARY 2, 1995 BY DISTRICT NO. 1 AGAINST FREDERICK MORTON WOOLLEY ALLEGING VIOLATIONS OF ARTICLE, III SECTIONS 1 AND 2 OF THE RULES OF FAIR PRACTICE IN THAT RESPONDENT WOOLLEY RECOMMENDED TO A PUBLIC CUSTOMER AND EFFECTED FOR HER ACCOUNT, PURCHASES OF SECURITIES WITHOUT HAVING REASONABLE GROUNDS FOR BELIEVING THAT THE RECOMMENDATIONS WERE SUITABLE FOR THE CUSTOMER BASED UPON THE FACTS DISCLOSED BY THE CUSTOMER AS TO HER OTHER SECURITY HOLDINGS AND AS TO HER FINANCIAL SITUATION AND NEEDS.

Decision

Monetary/Fine

$8,975.00

Censure

COSTS OF $2,269.60;NBCC COSTS - $750

NBCC DECISION RENDERED OCTOBER 23, 1996 WHEREIN THE FINDINGS MADE AND THE SANCTIONS IMPOSED ARE AFFIRMED. IN ADDITION, RESPONDENT WOLLEY IS ASSESSED NBCC COSTS OF $750. IF NO FURTHER ACTION, DECISION IS FINAL NOVEMBER 21, 1996. NOVEMBER 21, 1996 - DECISION IS FINAL. **$11,994.60 FULLY PAID AS OF 8/31/98, INVOICE # 96-01-901***

NO DECEIT OR FRAUD WAS RULED IN THIS CASE. NEITHER THE DBCC OR THE NBCC NOTICE OF DECISION MENTIONED FRAUD OR DECEIT. DAVID LOATSON NASD COUNSEL FOR DBCC-I WROTE UP DECISION GIVING ONE SIDED VIEW OF DECISION. NOT WRITTEN BY PANEL. FELT DECISION WAS COMPROMISE DECISION PROCEEDED WITH APPEAL TO NDBCC. NBCC UPHELD DBCC.