CLIENT IS ALLEGING THAT HE DID NOT RECEIVE HIS STATEMENTS IN A TIMLEY FASHION AND THAT I DID NOT FOLLOW HIS INSTRUCTIONS.

CLAIM WAS CORRECTLY DENIED BY MY PRIOR FIRM. I DID SPEAK WITH CLIENT BEFORE AND AFTER PURCHASES. COMPLAINT APPEARS TO BE CLOSED.

ALLEGED FAILURE TO KEEP CLIENT INFORMED OF LOSSES BEING SUSTAINED IN A MANAGED COMMODITY ACCOUNT BY COLORADO COMMODITY MANAGEMENT.

$40,000.00

SMITH BARNEY SHEARSON AGREED TO REIMBURSE CLIENT $40,000.00 REPRESENTING APPROXIMATELY ONE-HALF OF THE LOSSES SUSTAINED. BROKER TO CONTRIBUTE $16,000.00. CONTACT: JOE HANCZOR (407) 645-5035 CLIENT COMPLAINT ORIGINATED FROM: 1) LACK OF INFORMATION FROM ME SINCE ACCOUNT WAS HOLD ALL MAIL. 2) LACK OF DUE DILIGENCE BY SMITH BARNEY WHICH ALLOWED A 94.60% DRAW DOWN PRIOR TO SEVERING RELATIONSHIP WITH COMMODITY MANAGER. WE WITHDREW ALL OF MY ACCOUNTS, 2 MONTHS PRIOR TO SMITH BARNEY TERMINATION. THEY WENT SO FAR AS TO ALLOCATE 10,000,000 OF NEW MONEYS FROM A MUTUAL FUND THAT SAME MONTH. 3) LACK OF CCM'S MANAGEMENT TO REALIZE CHANGING MARKET AND TO CHANGE TRADING SYSTEM TO ALLOW FOR STOP LOSSES.

MERRILL LYNCH

Permitted to Resign

NONE I MISTAKENLY OPENED A JOINT CD ACCOUNT WITH MY CLIENT - BENJAMIN T. CAPRILES - THIS WAS NOT DONE WITH ANY INTENT OF WRONGDOING. HOWEVER WHEN MR. CAPRILES MISUNDERSTOOD THE PUPROSE OF THE JOINT ACCOUNT (THAT I WOULD GUARANTEE LOSSES) HE MADE A VERBAL COMPLAINT.

TERMINATION OF EMPLOYMENT WHEN MERRIL LYNCH CALLED ME IN TO EXPLAIN THE SITUATION I WAS PERMITTED TO RESIGN AND THEREBY AVOID CAUSING THE FIRM ANY FURTHER EMBARRASSMENT. Not Provided