UNAUTHORIZED PURCHASE OF 855 SHARES OF SELIGMAN INVESTMENT TECHNOOLOGY FUND B @ $7.02/SHARE RESULTING IN LOSS OF $2042.45 AND UNSUITABLE RECOMMENDATION OF FT SOFTWARE INNOVATE SER 3 NAD FT WW WIRELESS SER 2 UNIT INVESTMENT TRUSTS PURCHASED ON 7/14/2000.

$73,420.01

THE FIRM INITIALLY DENIED THE CLAIM ON OCTOBER 08, 2002 DETERMINING THAT THE INVESTMENTS WERE CONSISTENT WITH THE CUSTOMER'S INVESTMENT OBJECTIVES AND THAT THE TRANSACTIONS IN THE CUSTOMER'S ACCOUNT WERE DONE WITH HIS AUTHORIZATION. THE CUSTOMER'S ATTORNEY CONTACTED THE FIRM BY LETTER DATED APRIL 08, 2003 AND DISPUTED THE FINDINGS. THE FIRM REQUESTED ADDITIONAL INFORMATION AND AFTER REVIEWING THE MATTER DETERMINED THE ALLEGATIONS WERE WITHOUT MERIT AND REITERATED ITS DENIAL BY LETTER DATED AUGUST 05, 2003.