[CUSTOMER] ALLEGED SHE LOST $950,000 BROTTEN DOWN AS FOLLOWS; MANAGED COMMODITIES $20 M SYSTEMTIVED $50,000 TEXTILE TRANSFER, + $700 IN PROMISSORY NOTES OF A FURNITURE CO I DIDN'T KNOW OF THE ALLEGATIONS SO I DONT KNOW WHO THEY WERE AGAINST. I ASSUME IT WAS OPPENHEIMER, BEAR STEAERS & MYSELF

$1,850,000.00

$50,000.00

STTE RECEIVE $50,000 - I BELIEVE OPPERHEIMER & CO WAS THE PAYOR I DID NOT KNOW OF THE ALLEGATIONS BUT HAD I KNOWN I WOULD NOT HAVE BEEN IN FAVOR OF HER RECEIVING ANY MONIES. AT NO TIME DID SHE HAVE ANY THING APPROACHING 950,000 INVERLED SHE WAS A CLOSEFRIEND OF [THIRD PARTY] & I THIS [THIRD PARTY] WAS OFFERED SOME SETTLEMENT BEFORE HER ARBITRATION HEARING AS A RESULT I THINK [CUSTOMER] THOUGH SHE COULD GET SOME MONEY WILL LITTLE EFFORT. EVIDERTLY SHE WAS CORRECT. AS FAR AS HER INVESTMENT IN THE PROMISSORY NOTES OF A FURNITURE CO IS CONCERED THAT WAS RECOMMENDED TO HER BY HER ACCOUNT THAT SHORRY LARKIS, WHOM SHE FIRED THE AMOUNT SHE INVERTED WAS LESS THAN $100,000 & IT WAS DONE TO GAIN A MULTIPLE TAX WHITE OFF

Western International Securities, Inc.

Discharged

Rep borrowed from a client.

Misrepresentation and incompetence on stock selections from 2018 to 2019.

$35,000.00

$9,000.00

Claimant alleges losses due to the financial advisor's unsuitable recommendation to invest in a managed futures fund. Time frame is 11/2012 to 3/2016.

$50,000.00

$20,000.00

There is no merit, whatsoever, to this customer complaint. {customer} fully understood the nature of his managed future investments & assumed the risks relating to these investments. The managed future accounts were managed by two trading advisors per limited powers of attorney signed by {customer}. I never exercised discretion in the accounts & had no involvement in the trading done by the trading advisors. Throughout his participation in these investments, {customer} remained in direct contact with both trading advisors & actively & carefully followed the progress of his investments in the accounts on a regular basis. From time to time & based upon his own analysis, he made the decision to exit & thereafter renew his participation in these investments.

Client alleges he lost nearly all of his investment in a Managed Futures program from 10/2014 to 06/2016, after he was told that he could not lose more than 20% of his investment.

$30,000.00

$15,000.00

CUSTOMER ALLEGES VIOLATIONS OF LAW AND INDUSTRY RULES IN CONNECTION WITH INVESTMENTS MADE IN 10/06/1995 -NOTE AND SHARES OF STOCK PURCHASED FROM THIRD PARTY.

$120,000.00

$9,999.00

PENDING NOT PROVIDED

THE COMPLAINT ALLEGES THAT THE CUSTOMER LOST $12,768.97 IN ACTUAL DAMAGES WHILE THE ACCOUNT WAS AT BEAR STEARNS. THE COMPLAINT ALLEGED VIOLATIONS OF FEDERAL SECURITIES LAWS, SUITABILITY RULES AND NEGLIGENT HIRING AS THE BASIS FOR ITS CLAIMS. IN ADDITION TO ACTUAL DAMAGES, THE COMPLAINT SEEKS PUNITIVE DAMAGES OF NO LESS THAN 2MM AGAINST BEAR STEARNS & OPPENHEIMER & CO.

$2,584,127.00

$126,000.00

THE ARBITRATION PANEL, HAVING CONSIDERED THE PLEADINGS THE TESTIMONY AND EVIDENCE PRESENTED AT THE HEARING, HAS DETERMINED IN FULL AND FINAL RESOLUTION OF THE ISSUES SUBMITTED AS FOLLOWS: RESPONDENTS OPPENHEIMER & GODIN ARE JOINTLY AND SEVERALLY LIABLE FOR AND SHALL PAY THE CLAIMANT THE SUM OF $100,000.00 GODIN IS INDIVIDUALLY LIABLE FOR AND SHALL PAY TO CLAIMANT THE SUM OF $26,000 ONLY.. THE CLAIM FOR PUNITIVE DAMAGES IS DISMISSED. OPPENHEIMER & CO AND GODIN ARE JOINTLY AND SEVERALLY ASSESSED $4,000.00 IN FORUM FEES. ON 2/16/89 [CUSTOMER] BROUGHT A COMPLAINT AGAINST OPPENHEIMER & CO., BEAR STEARNS AND GODIN. A CLIENT OF 10 YEARS SHE ALLEGES HER ACCOUNT WAS TRANSFERRED TO BEAR WITHOUT HER KNOWLEDGE OR AUTHORIZATION. THIS IS NOT POSSIBLE SINCE I HAVE A COPY OF HER SIGNED INSTRUCTION TO EFFECT THE TRANSFER, AND SHE TRADED HER ACCOUNT WHILE AT BEAR STEARNS. SHE FURTHER ALLEDGED THAT HER INVESTMENT OBJECTIVE WAS INCOME AND THAT SHE NEEDED THE INCOME IN ORDER TO COVER HER LIVING EXPENSES. HOWEVER, IN TEN (10) YEARS OF INVESTING SHE NEVER MADE A WITHDRAWAL FOR SUCH LIVING EXPENSES. I DO NOT BELIEVE THAT THIS FACT WAS ADEQUATELY BROUGH OUT IN THE ARBITRATION HEARING. I BELIEVE HER COMPLAINT WAS NOT BUSINESS RELATED BUT THE RESULT OF A PERSONAL FALLING OUT WE UNFORTUNATELY HAD.

ON OR ABOUT 11-86 PLAINTIFF LEARNED THAT HER ACCOUNT HAD BEEN DIMINISHED TO APPROX $16,000 REPRESENTING A LOSS OF SOME $74,000. AS A DIRECT AND PROXIMATE CAUSE OF MISREPRESENTATIONS OF THE DEFENDANTS. PLAINTIFF HAS BEEN DAMAGED BY THE LOSS OF HER INVESTMENT CAPITAL IN THE AMOUNT OF $73,000 WANTS GENERAL DAMAGES IN THE AMOUNT OF 1 MILLION -PUNITIVE $10 MILLION - OTHER COURT DEEMS.

$1,000,000.00

$46,505.00

THE ARBITRATORS HAVE DETERMINED AWARD THE FOLLOWING: CMA SHALL PAY $4,725. OPPENHEIMER CO. AND STUART GODIN SHOULD PAY $41,780 FOR A TOTAL OF $46,505. THE ARBITRATORS FEEL THAT THE RESPONSIBILITY OF THESE LOSSES ARE ATTRIBUTABLE 40% TO OPPENHEIMER CO. AND 60% TO STUART GODIN. ON 4/24/85 ACCOUNT OPENED BY SEAN SCHEGER WITH $50,000 - 6/85 PLACED WITH CMA 40M ADDED 12/85. 5/85 WAS POOR MONTH - I DISCUSSED THE ADVISABILITY OF REDUCING INVESTMENT OR DISCONTINUING COMPLETELY. A LETTER WAS SENT 6/23 ASKING FOR HER INSTRUCTIONS IN WRITING. ALL TRADING DONE BY CTA & CLIENT WAS ADVISED OF HER EQUITIES.

[CUSTOMER] ALLEGED THAT A DOCUMENT USED IN THE OPENING OF AN ACCOUNT DID NOT BEEN HIS AUTHENTIC SIGNATURE HE CLAIMED $32,500 IN DAMAGES.

$32,500.00

$32,500.00

THE FIRM & GODIN AGREED TO CONTRIBUTE $13,750 EACH + THE ADVISOR $5,000 [CUSTOMER] INFORMED ME THAT HE THOUGHT SOMEONE FORGED HIS SIGNATURE TO A DOCUMENT I HAD AN OFFICER OF THE FORGERY DIVISION OF THE L.A. POLICE DEPT. CHECLT IT OUT & IT APPEARED NOT TO BE [CUSTOMER] IS SIGNATURE WE WERE UNABLE TO DETERMINE WHO COMMITTED THE ATTENED FORGERY HOWEVER, I'D LIKE TO POINT OUT THAT THERE WERE SEVERAL SIGNATURES REQUIRED TO OPEN THE ACCOUNT (PROBABLY IN EXCESS OF 10) SO THERE IS NO DOUBT IN [CUSTOMER] INTENT TO OPEN THE ACCOUNT IF I HAD NOTICED A SIGNATURE MISSING I SIMPLY WOULD HAVE RETURNED IT FOR HIS SIGNATURE. WHERE A OR CTA CLERK DID IT TO COMPLETE THE POCTIAGE I DIDNT KNOW WHETHEN [CUSTOMER] HAD SOMEONE ELSE DO IT TO HIM A TECHNICAL ABOUT I DID'T KNOWN