Allegations include unsuitable recommendations, continuing fraud, failure to supervise, failure to provide due diligence

$70,000.00

$15,000.00

Claimants allege that the representative made false and misleading statements concerning the status and valuation of Claimant's investments and mismanaged their accounts. Allegations include breach of fiduciary duty, fraud, breach of contract, and unsuitability.

$5,000.00

$11,250.00

Claim alleging misrepresentation and other causes of action in connection with the sale of two REITs.

$75,000.00

$22,000.00

Claim alleges suitability and other causes of action in connection with the sale of a TIC in approximately December 2005.

$359,215.00

$100,000.00

FINRA

Without admitting or denying the findings, Horowitz consented to the sanctions and to the entry of findings that he recommended and engaged in unsuitable trading in preferred notes of an unregistered limited partnership investment fund. The findings stated that specifically, his recommendations lacked a reasonable basis because he failed to adequately investigate red flags that the fund was not a viable investment. The findings also stated that shortly after Horowitz's association with his member firm, he began sending emails to firm personnel requesting a quick approval process for the preferred notes. Horowitz told the firm that it was urgent that there be a "quick approval process" so that he could begin selling the preferred notes because there may only be a short period in which they could be sold. The offering documents for the preferred notes did not, however, specify a deadline by which conversion requests had to be completed, although they did set a cap on the amount of money that could be converted to preferred notes. In addition, Horowitz attempted to persuade his customers to not participate in this conversion directly with the issuer even though they could have done so without his firm's and Horowitz's participation. Horowitz's previous broker-dealer decided not to allow its representatives to sell the preferred notes to that firm's customers due to concerns about the fund's ability to generate income for investors. Horowitz became aware of this decision soon after, while he was associated with his current firm. However, Horowitz's current firm advised him that it was awaiting an independent third-party due diligence report before approving the preferred notes for sale by the firm. Horowitz then requested that he nonetheless be permitted to sell the preferred notes to his existing customers, notwithstanding that the firm had not received the third-party report. The following day, the firm agreed to allow Horowitz to offer the preferred notes for sale to existing investors in the fund. Thereafter, Horowitz recommended the conversion of his customers' interests to the preferred notes although the firm had not obtained the third-party due diligence report and Horowitz had done nothing more than review the preferred notes offering documents and other written and oral representations made by the fund. Horowitz was also aware of red flags that cast doubt on the veracity of the issuer's representations. Within four months, Horowitz's branch office of the firm converted just over $8 million of existing interests to the preferred notes, which required additional capital contributions from the representative's and the firm's customers of just over $2.5 million. Horowitz was responsible for all but $137,500 of these conversions, and he was paid more than $200,000 in net commissions from the conversion process. Thereafter, the fund began making late payments to preferred note holders, and stopped making payments altogether eventually. The findings also included that despite Horowitz's recommendation that his customers contribute additional capital to the fund by converting their interests to the preferred notes, Horowitz was aware of substantial red flags about the continuing viability of the fund. Horowitz did not apprise his firm of any of the red flags. Moreover, despite Horowitz's increasing knowledge of severe problems the fund had experienced and was experiencing, Horowitz continued to recommend that his customers convert their interests to the preferred notes. Indeed, Horowitz's staff processed some conversions (for a total of $133,810) on behalf of his customers even after he had learned that distributions on existing interests had been reduced to zero.

Acceptance, Waiver & Consent(AWC)

Civil and Administrative Penalty(ies)/Fine(s)

$100,000.00

Suspension

any capacity

one year

3/7/2016

3/6/2017

Securities America

Permitted to Resign

After consultation with FINRA, Stuart Horowitz in an agreement with FINRA proposed to resign prior to FINRA's planned suspension and subsequent fine. Mr. Horowitz will be permitted to resign on January 25th, 2016.

Claim alleging misrepresentation, unsuitability, and other causes of action in connection with the sale of various alternative investments in 2008 and 2009.

$1,000,000.00

$600,000.00

CLAIM ALLEGING FRAUD AND OTHER CAUSES OF ACTION IN CONNECTION WITH THE SALE OF TIC INVESTMENTS IN 2005.

$835,000.00

$100,000.00

STUART HOROWITZ WAS MENTIONED IN THE BODY OF THE CLAIM AS HE KNEW THE CLIENT PERSONALLY AND INTRODUCED THEM TO THE REP WHO FACILITATED THE TRANSACTION. HE WAS NOT THE BROKER OF RECORD AND IT WAS DONE AT A DIFFERENT BD THAT HE WAS NEVER AFFILIATED WITH.

Allegations include suitability, breach of fiduciary duty, common law fraud, breach of contract, supervision.

$300,000.00

$90,000.00

I COMPLETELY DENY THESE ALLEGATIONS. I AM NOT NAMED IN THESE ALLEGATIONS AND DID NOT IN ANYWAY PARTICIPATE IN THE SELL OR CONTACT WITH THIS CLIENT.

CLAIMANT ALLEGES: SUITABILITY, FAILURE TO SUPERVISE, NEGLIGENCE, BREACH OF FIDUCIARY DUTY, FRAUD AND BREACH OF CONTRACT.

$500,000.00

$8,357.00

Allegations include failure to supervise, suitability, and misrepresentation

$1,000,000.00

Allegations are unsuitable investments in violation of NASD Rule 2310, material representation and negligence, failure to supervise, breach of fiduciary duty, fraudulent misrepresentations in violation of Florida securities and investor protection act, and violations of FINRA Rules IM-2310-2 and 2020.

$204,000.00

$10,000.00

ALLEGED ACTIVITY DATES ARE 11/2007 TO 07/2009. CLAIMANTS ALLEGES THAT THE REPRESENTATIVE MADE UNSUITABLE INVESTMENT RECOMMENDATIONS THAT RESULTED IN LOSSES IN THE CLAIMANT'S ACCOUNT. ADDITIONAL ALLEGATIONS ARE BREACH OF FIDUCIARY DUTY, MISREPRESENTATION, NEGLIGENCE, FRAUD, AND BREACH OF CONTRACT.

$5,000.00

$118,898.27

I AM NOT NAMED IN THIS PROCEEDING. NEVERTHELESS, THE ALLEGATIONS CONCERNING ME ARE WITHOUT MERIT, AND I DENY THEM IN THEIR ENTIRETY. 04/25/2014: WITHOUT ADMITTING ANY LIABILITY OR WRONGDOING, SECURITIES AMERICA HAS SETTLED ALL CLAIMS INVOLVING THE FIRM. STUART HOROWITZ WAS NOT ASKED TO NOR DID HE CONTRIBUTE TO THE SETTLEMENT. CLAIMS INVOLVING NFP SECURITIES ARE STILL PENDING. Claims settled with NFP in the amount of: $25,501.00 on 09/17/2015. Claims settled with SAI for the amount of $25,071.27 for a total of $50572.27. 10/22/2015 NFP settled their amount for $68,326.00 bringing the total settlement to: $118,898.27. this brings to a close this arbitration.

ALLEGED ACTIVITY DATES ARE 11/2007 TO 07/2009. CLAIMANTS ALLEGES THAT THE REPRESENTATIVE MADE UNSUITABLE INVESTMENT RECOMMENDATIONS THAT RESULTED IN LOSSES IN THE CLAIMANT'S ACCOUNT. ADDITIONAL ALLEGATIONS ARE BREACH OF FIDUCIARY DUTY, MISREPRESENTATION, NEGLIGENCE, FRAUD, AND BREACH OF CONTRACT.

$5,000.00

$82,535.63

I AM NOT NAMED IN THIS PROCEEDING. NEVERTHELESS, THE ALLEGATIONS CONCERNING ME ARE WITHOUT MERIT, AND I DENY THEM IN THEIR ENTIRETY. 04/25/2014: WITHOUT ADMITTING ANY LIABILITY OR WRONGDOING, SECURITIES AMERICA HAS SETTLED ALL CLAIMS INVOLVING THE FIRM. STUART HOROWITZ WAS NOT ASKED TO NOR DID HE CONTRIBUTE TO THE SETTLEMENT. CLAIMS INVOLVING NFP SECURITIES ARE STILL PENDING. ON 8/5/2015 NFP SETTLED THEIR PORTION FOR $70,000.00 PLUS WHAT SAI HAD PREVIOUSLY SETTLED $12,535.63 FOR A TOTAL SETTLEMENT OF: $82,535.63

CLAIMANTS ALLEGE THAT THE REPRESENTATIVE MADE UNSUITABLE INVESTMENT RECOMMENDATIONS THAT RESULTED IN LOSSES IN THE CLAIMANTS' ACCOUNT. ADDITIONAL ALLEGATIONS ARE BREACH OF FIDUCIARY DUTY, MISREPRESENTATION, NEGLIGENCE, FRAUD, AND BREACH OF CONTRACT.

$5,000.00

$124,071.27

I AM NOT NAMED IN THIS PROCEEDING. NEVERTHELESS, THE ALLEGATIONS CONCERNING ME ARE WITHOUT MERIT, AND I DENY THEM IN THEIR ENTIRETY. 04/25/2014: WITHOUT ADMITTING ANY LIABILITY OR WRONGDOING, SECURITIES AMERICA HAS SETTLED ALL CLAIMS INVOLVING THE FIRM. STUART HOROWITZ WAS NOT ASKED TO NOR DID HE CONTRIBUTE TO THE SETTLEMENT. CLAIMS INVOLVING NFP SECURITIES ARE STILL PENDING. 10/7/2015 NFP settled their portion for: $99,000.00 Plus the amount that SAI previously settled for $25,071.27 for a grand total of: $124,071.27

ALLEGED ACTIVITY DATES ARE 11/2007 TO 07/2009. CLAIMANTS ALLEGE THAT THE REPRESENTATIVE MADE UNSUITABLE INVESTMENT RECOMMENDATIONS THAT RESULTED IN LOSSES IN THE CLAIMANTS' ACCOUNT. ADDITIONAL ALLEGATIONS ARE BREACH OF FIDUCIARY DUTY, MISREPRESENTATION, NEGLIGENCE, FRAUD, AND BREACH OF CONTRACT.

$5,000.00

$234,142.50

I AM NOT NAMED IN THIS PROCEEDING. NEVERTHELESS, THE ALLEGATIONS CONCERNING ME ARE WITHOUT MERIT, AND I DENY THEM IN THEIR ENTIRETY. 04/25/2014: WITHOUT ADMITTING ANY LIABILITY OR WRONGDOING, SECURITIES AMERICA HAS SETTLED ALL CLAIMS INVOLVING THE FIRM. STUART HOROWITZ WAS NOT ASKED TO NOR DID HE CONTRIBUTE TO THE SETTLEMENT. CLAIMS INVOLVING NFP SECURITIES ARE STILL PENDING. 05/27/2015: NFP SETTLED MATTER FOR: $184000.00. THIS WAS ADDED TO SAI'S SETTLED AMOUNT OF $50,142.50 BRINGING THE TOTAL TO: $234,142.50

ALLEGED ACTIVITY DATES ARE 11/2007 TO 07/2009. CLAIMANT ALLEGES THAT THE REPRESENTATIVE MADE UNSUITABLE INVESTMENT RECOMMENDATIONS THAT RESULTED IN LOSSES IN THE CLAIMANT'S ACCOUNT. ADDITIONAL ALLEGATIONS ARE BREACH OF FIDUCIARY DUTY, MISREPRESENTATION, NEGLIGENCE, FRAUD, AND BREACH OF CONTRACT.

$5,000.00

$205,877.71

I AM NOT NAMED IN THIS PROCEEDING. NEVERTHELESS, THE ALLEGATIONS CONCERNING ME ARE WITHOUT MERIT, AND I DENY THEM IN THEIR ENTIRETY. 04/25/2014: WITHOUT ADMITTING ANY LIABILITY OR WRONGDOING, SECURITIES AMERICA HAS SETTLED ALL CLAIMS INVOLVING THE FIRM. STUART HOROWITZ WAS NOT ASKED TO NOR DID HE CONTRIBUTE TO THE SETTLEMENT. CLAIMS INVOLVING NFP SECURITIES ARE STILL PENDING. 07/14/2015: NFP SETTLED MATTER FOR $158,832.96. ADDED TO SAI'S SETTLEMENT OF $47,044.75 = $205,877.71.

ALLEGED ACTIVITY DATES ARE 11/2007 TO 07/2009. CLAIMANTS ALLEGE THAT THE REPRESENTATIVE MADE UNSUITABLE INVESTMENT RECOMMENDATIONS THAT RESULTED IN LOSSES IN THE CLAIMANTS' ACCOUNT. ADDITIONAL ALLEGATIONS ARE BREACH OF FIDUCIARY DUTY, MISREPRESENTATION, NEGLIGENCE, FRAUD, AND BREACH OF CONTRACT.

$5,000.00

$65,714.16

I AM NOT NAMED IN THIS PROCEEDING. NEVERTHELESS, THE ALLEGATIONS CONCERNING ME ARE WITHOUT MERIT, AND I DENY THEM IN THEIR ENTIRETY. 04/25/2014: WITHOUT ADMITTING ANY LIABILITY OR WRONGDOING, SECURITIES AMERICA HAS SETTLED ALL CLAIMS INVOLVING THE FIRM. STUART HOROWITZ WAS NOT ASKED TO NOR DID HE CONTRIBUTE TO THE SETTLEMENT. CLAIMS INVOLVING NFP SECURITIES ARE STILL PENDING. NFP SETTLED FOR: $49,000.00 ON 06/16/2015. SAI SETTLED FOR: $16,714.16 ON 04/24/2014 OR A GRAND TOTAL OF: $65,714.16

ALLEGED ACTIVITY DATES ARE 11/2007 TO 07/2009. CLAIMANTS ALLEGE THAT THE REPRESENTATIVE MADE UNSUITABLE INVESTMENT RECOMMENDATIONS THAT RESULTED IN LOSSES IN THE CLAIMANTS' ACCOUNTS. ADDITIONAL ALLEGATIONS ARE BREACH OF FIDUCIARY DUTY, MISREPRESENTATION, NEGLIGENCE, FRAUD, AND BREACH OF CONTRACT.

$5,000.00

$135,071.25

I AM NOT NAMED IN THIS PROCEEDING. NEVERTHELESS, THE ALLEGATIONS CONCERNING ME ARE WITHOUT MERIT, AND I DENY THEM IN THEIR ENTIRETY. 04/25/2014: WITHOUT ADMITTING ANY LIABILITY OR WRONGDOING, SECURITIES AMERICA HAS SETTLED ALL CLAIMS INVOLVING THE FIRM. STUART HOROWITZ WAS NOT ASKED TO NOR DID HE CONTRIBUTE TO THE SETTLEMENT. 01/07/2015: CLAIMS INVOLVING NFP SECURITIES HAVE BEEN SETTLED FOR $110,000, MAKING THE TOTAL SETTLEMENT AMOUNT $135,071.25. STUART HOROWITZ WAS NOT ASKED TO NOR DID HE CONTRIBUTE TO THE NFP SETTLEMENT. THIS MATTER IS NOW CLOSED.

ALLEGED ACTIVITY DATES ARE 11/2007 TO 07/2009. CLAIMANT ALLEGES THAT THE REPRESENTATIVE MADE UNSUITABLE INVESTMENT RECOMMENDATIONS THAT RESULTED IN LOSSES IN THE CLAIMANT'S ACCOUNT. ADDITIONAL ALLEGATIONS ARE BREACH OF FIDUCIARY DUTY, MISREPRESENTATION, NEGLIGENCE, FRAUD, AND BREACH OF CONTRACT.

$5,000.00

$131,714.16

I AM NOT NAMED IN THIS PROCEEDING. NEVERTHELESS, THE ALLEGATIONS CONCERNING ME ARE WITHOUT MERIT, AND I DENY THEM IN THEIR ENTIRETY. 04/25/2014: WITHOUT ADMITTING ANY LIABILITY OR WRONGDOING, SECURITIES AMERICA HAS SETTLED ALL CLAIMS INVOLVING THE FIRM. STUART HOROWITZ WAS NOT ASKED TO NOR DID HE CONTRIBUTE TO THE SETTLEMENT. 11/12/2014: CLAIMS INVOLVING NFP SECURITIES HAVE SETTLED FOR $115,000. STUART HOROWITZ WAS NOT ASKED TO NOR DID HE CONTRIBUTE TO THE SETTLEMENT.

ALLEGED ACTIVITY DATES ARE 11/2007 TO 07/2009. CLAIMANTS ALLEGE THAT THE REPRESENTATIVE MADE UNSUITABLE INVESTMENT RECOMMENDATIONS THAT RESULTED IN LOSSES IN THE CLAIMANTS' ACCOUNTS. ADDITIONAL ALLEGATIONS ARE BREACH OF FIDUCIARY DUTY, MISREPRESENTATION, NEGLIGENCE, FRAUD, AND BREACH OF CONTRACT.

$5,000.00

$173,428.35

I AM NOT NAMED IN THIS PROCEEDING. NEVERTHELESS, THE ALLEGATIONS CONCERNING ME ARE WITHOUT MERIT, AND I DENY THEM IN THEIR ENTIRETY. 04/25/2014: WITHOUT ADMITTING ANY LIABILITY OR WRONGDOING, SECURITIES AMERICA HAS SETTLED ALL CLAIMS INVOLVING THE FIRM. STUART HOROWITZ WAS NOT ASKED TO NOR DID HE CONTRIBUTE TO THE SETTLEMENT. CLAIMS INVOLVING NFP SECURITIES ARE STILL PENDING. NFP SETTLED FOR 140,000.00 ON 06/01/2015. SAI SETTLED FOR THE REMAINDER WHICH WAS: 33,428.35 FOR A GRAND TOTAL OF $173,428.35

ALLEGED ACTIVITY DATES ARE 11/2007 TO 07/2009. CLAIMANTS ALLEGE THAT THE REPRESENTATIVE MADE UNSUITABLE INVESTMENT RECOMMENDATIONS THAT RESULTED IN LOSSES IN THE CLAIMANTS' ACCOUNTS. ADDITIONAL ALLEGATIONS ARE BREACH OF FIDUCIARY DUTY, MISREPRESENTATION, NEGLIGENCE, FRAUD, AND BREACH OF CONTRACT.

$5,000.00

$310,963.97

I AM NOT NAMED IN THIS PROCEEDING. NEVERTHELESS, THE ALLEGATIONS CONCERNING ME ARE WITHOUT MERIT, AND I DENY THEM IN THEIR ENTIRETY. 04/25/2014: WITHOUT ADMITTING ANY LIABILITY OR WRONGDOING, SECURITIES AMERICA HAS SETTLED ALL CLAIMS INVOLVING THE FIRM FOR $45,963.97. STUART HOROWITZ WAS NOT ASKED TO NOR DID HE CONTRIBUTE TO THE SETTLEMENT. 9/15/2014: ALL REMAINING CLAIMS HAVE BEEN SETTLED BY NFP FOR $265,000. STUART HOROWITZ WAS NOT ASKED TO NOR DID HE CONTRIBUTE TO THE SETTLEMENT.

ALLEGED ACTIVITY DATES ARE 11/2007 TO 07/2009. CLAIMANT ALLEGES THAT THE REPRESENTATIVE MADE UNSUITABLE INVESTMENT RECOMMENDATIONS THAT RESULTED IN LOSSES IN THE CLAIMANT'S ACCOUNT. ADDITIONAL ALLEGATIONS ARE BREACH OF FIDUCIARY DUTY, MISREPRESENTATION, NEGLIGENCE, FRAUD, AND BREACH OF CONTRACT.

$5,000.00

$220,142.50

I AM NOT NAMED IN THIS PROCEEDING. NEVERTHELESS, THE ALLEGATIONS CONCERNING ME ARE WITHOUT MERIT, AND I DENY THEM IN THEIR ENTIRETY. 04/25/2014: WITHOUT ADMITTING ANY LIABILITY OR WRONGDOING, SECURITIES AMERICA HAS SETTLED ALL CLAIMS INVOLVING THE FIRM. STUART HOROWITZ WAS NOT ASKED TO NOR DID HE CONTRIBUTE TO THE SETTLEMENT. CLAIMS INVOLVING NFP SECURITIES ARE STILL PENDING. ON 04/14/2015 - NFP SETTLED FOR 170,000.00 PLUS SECURITIES AMERICA SETTLEMENT OF $50,142.50 ON 04/25/2014 FOR A SETTLEMENT TOTAL OF $220,142.50.

ALLEGED ACTIVITY DATES ARE 5/2007 TO 07/2009. CLAIMANT ALLEGES THAT THE REPRESENTATIVE MADE UNSUITABLE INVESTMENT RECOMMENDATIONS THAT RESULTED IN LOSSES IN THE CLAIMANT'S ACCOUNT. ADDITIONAL ALLEGATIONS ARE BREACH OF FIDUCIARY DUTY, MISREPRESENTATION, NEGLIGENCE, FRAUD, AND BREACH OF CONTRACT.

$5,000.00

$75,674.16

I AM NOT NAMED IN THIS PROCEEDING. NEVERTHELESS, THE ALLEGATIONS CONCERNING ME ARE WITHOUT MERIT, AND I DENY THEM IN THEIR ENTIRETY. 04/25/2014: WITHOUT ADMITTING ANY LIABILITY OR WRONGDOING, SECURITIES AMERICA HAS SETTLED ALL CLAIMS INVOLVING THE FIRM. STUART HOROWITZ WAS NOT ASKED TO NOR DID HE CONTRIBUTE TO THE SETTLEMENT. CLAIMS INVOLVING NFP SECURITIES ARE STILL PENDING. 04/14/2015 SAI SETTLED FOR $16,714.16 AND NFP SETTLED FOR $74,000.00 WHICH BROUGHT THE TOTAL SETTLEMENT TO: 75,674.16

ALLEGED ACTIVITY DATES ARE 5/2007 TO 07/2009. CLAIMANT ALLEGES THAT THE REPRESENTATIVE RECOMMENDED THAT HE INVEST IN VARIOUS HIGH RISK, ILLIQUID INVESTMENTS. THE ALLEGATIONS ARE MISREPRESENTATION, UNSUITABILITY, BREACH OF FIDUCIARY DUTY, NEGLIGENCE, FRAUD AND BREACH OF CONTRACT.

$5,000.00

$45,357.09

I AM NOT NAMED IN THIS PROCEEDING. NEVERTHELESS, THE ALLEGATIONS CONCERNING ME ARE WITHOUT MERIT, AND I DENY THEM IN THEIR ENTIRETY. 04/25/2014: WITHOUT ADMITTING ANY LIABILITY OR WRONGDOING, SECURITIES AMERICA HAS SETTLED ALL CLAIMS INVOLVING THE FIRM. STUART HOROWITZ WAS NOT ASKED TO NOR DID HE CONTRIBUTE TO THE SETTLEMENT. NFP HAS SETTLED THEIR CLAIM FOR $37,000.00. BRINGING THE TOTAL SETTLED AMOUNT TO $45,357.09

CLAIMANT ALLEGES THAT THE REPRESENTATIVE MADE UNSUITABLE INVESTMENT RECOMMENDATIONS THAT RESULTED IN LOSSES IN THE CLAIMANT'S ACCOUNT. ADDITIONAL ALLEGATIONS ARE MISREPRESENTATION, BREACH OF FIDUCIARY DUTY, NEGLIGENCE, FRAUD, AND BREACH OF CONTRACT.

$100,000.00

$30,000.00

I AM NOT NAMED IN THIS PROCEEDING. NEVERTHELESS, THE ALLEGATIONS CONCERNING ME ARE WITHOUT MERIT, AND I DENY THEM IN THEIR ENTIRETY.

CLAIMANT ALLEGES THAT BETWEEN 2007 AND 2009, THE REPRESENTATIVE RECOMMENDED ALTERNATIVE INVESTMENTS THAT WERE UNSUITABLE. ADDITIONAL ALLEGATIONS ARE MISREPRESENTATION, BREACH OF FIDUCIARY DUTY, NEGLIGENCE, FRAUD AND BREACH OF CONTRACT.

$147,500.00

$70,126.32

I AM NOT NAMED IN THIS PROCEEDING. NEVERTHELESS, THE ALLEGATIONS CONCERNING ME ARE WITHOUT MERIT, AND I DENY THEM IN THEIR ENTIRETY. 04/25/2014: WITHOUT ADMITTING ANY LIABILITY OR WRONGDOING, SECURITIES AMERICA HAS SETTLED ALL CLAIMS INVOLVING THE FIRM. STUART HOROWITZ WAS NOT ASKED TO NOR DID HE CONTRIBUTE TO THE SETTLEMENT. NFP CLAIM HAS BEEN SETTLED FOR $58,000.00 ON 02/06/2015. THIS AMOUNT WAS ADDED FROM THE SETTLEMENT OF SAI WHICH WAS $12,126.32 BRINGING THE FINAL SETTLED TOTAL TO 70126.32

ALLEGED ACTIVITY DATES ARE 11/2007 TO 07/2009. CLAIMANTS ALLEGE THAT THE REPRESENTATIVE RECOMMENDED ALTERNATIVE INVESTMENTS THAT WERE UNSUITABLE. ADDITIONAL ALLEGATIONS ARE MISREPRESENTATION, BREACH OF FIDUCIARY DUTY, NEGLIGENCE, FRAUD AND BREACH OF CONTRACT.

$165,000.00

$62,359.50

I AM NOT NAMED IN THIS PROCEEDING. NEVERTHELESS, THE ALLEGATIONS CONCERNING ME ARE WITHOUT MERIT, AND I DENY THEM IN THEIR ENTIRETY. 04/25/2014: WITHOUT ADMITTING ANY LIABILITY OR WRONGDOING, SECURITIES AMERICA HAS SETTLED ALL CLAIMS INVOLVING THE FIRM. STUART HOROWITZ WAS NOT ASKED TO NOR DID HE CONTRIBUTE TO THE SETTLEMENT. 12/19/2014: CLAIMS INVOLVING NFP SECURITIES WERE SETTLED FOR $54,001.60, FOR A TOTAL SETTLEMENT OF $62,395.50. STUART HOROWITZ WAS NOT ASKED TO NOR DID HE CONTRIBUTE TO THE NFP SETTLEMENT. THIS MATTER IS NOW CLOSED.

CLAIMANT ALLEGES THAT THE REPRESENTATIVE RECOMMENDED INVESTING HIS RETIREMENT FUNDS IN UNSUITABLE, HIGH RISK ALTERNATIVE INVESTMENTS. ALLEGATIONS ARE MISREPRESENTATION, BREACH OF FIDUCIARY DUTY, NEGLIGENCE, AND BREACH OF CONTRACT.

$90,000.00

$28,250.00

I AM NOT NAMED IN THIS PROCEEDING. NEVERTHELESS, THE ALLEGATIONS CONCERNING ME ARE WITHOUT MERIT, AND I DENY THEM IN THEIR ENTIRETY. ON MARCH 25, 2014, NFP SETTLED WITH THE CLIENT FOR $23,500; ON MARCH 26, 2014, SAI SETTLED WITH THE CLIENT FOR $4,750.

ALLEGED ACTIVITY DATES ARE 11/2007 TO 07/2009. CLAIMANT ALLEGES THAT THE REPRESENTATIVE RECOMMENDED ALTERNATIVE INVESTMENTS THAT WERE UNSUITABLE. ADDITIONAL ALLEGATIONS ARE MISREPRESENTATION, BREACH OF FIDUCIARY DUTY, NEGLIGENCE, FRAUD AND BREACH OF CONTRACT.

$387,000.00

$118,192.72

I AM NOT NAMED IN THIS PROCEEDING. NEVERTHELESS, THE ALLEGATIONS CONCERNING ME ARE WITHOUT MERIT, AND I DENY THEM IN THEIR ENTIRETY. 04/25/2014: WITHOUT ADMITTING ANY LIABILITY OR WRONGDOING, SECURITIES AMERICA HAS SETTLED ALL CLAIMS INVOLVING THE FIRM FOR $20,892.72. STUART HOROWITZ WAS NOT ASKED TO NOR DID HE CONTRIBUTE TO THE SETTLEMENT. 10/07/2014: ALL REMAINING CLAIMS WERE SETTLED BY NFP FOR $97,300. STUART HOROWITZ WAS NOT ASKED TO NOR DID HE CONTRIBUTE TO THE SETTLEMENT.

ALLEGED ACTIVITY DATES ARE 11/2007 TO 07/2009. CLAIMANT ALLEGES THAT THE REPRESENTATIVE RECOMMENDED ALTERNATIVE INVESTMENTS THAT WERE UNSUITABLE. ADDITIONAL ALLEGATIONS ARE MISREPRESENTATION, BREACH OF FIDUCIARY DUTY, NEGLIGENCE, FRAUD AND BREACH OF CONTRACT.

$375,000.00

$153,745.92

I AM NOT NAMED IN THIS PROCEEDING. NEVERTHELESS, THE ALLEGATIONS CONCERNING ME ARE WITHOUT MERIT, AND I DENY THEM IN THEIR ENTIRETY. 04/25/2014: WITHOUT ADMITTING ANY LIABILITY OR WRONGDOING, SECURITIES AMERICA HAS SETTLED ALL CLAIMS INVOLVING THE FIRM. STUART HOROWITZ WAS NOT ASKED TO NOR DID HE CONTRIBUTE TO THE SETTLEMENT. 8/08/2014: CLAIMS INVOLVING NFP SECURITIES HAVE BEEN SETTLED FOR $110,000.

ALLEGED ACTIVITY DATES ARE 11/2007 TO 07/2009. CLAIMANTS ALLEGE THAT THE REPRESENTATIVE MADE UNSUITABLE INVESTMENT RECOMMENDATIONS THAT RESULTED IN LOSSES IN THE CLAIMANTS' ACCOUNT. ADDITIONAL ALLEGATIONS ARE MISREPRESENTATION, BREACH OF FIDUCIARY DUTY, NEGLIGENCE, FRAUD, AND BREACH OF CONTRACT.

$5,000.00

$116,714.16

I AM NOT NAMED IN THIS PROCEEDING. NEVERTHELESS, THE ALLEGATIONS CONCERNING ME ARE WITHOUT MERIT, AND I DENY THEM IN THEIR ENTIRETY. 04/25/2014: WITHOUT ADMITTING ANY LIABILITY OR WRONGDOING, SECURITIES AMERICA HAS SETTLED ALL CLAIMS INVOLVING THE FIRM. STUART HOROWITZ WAS NOT ASKED TO NOR DID HE CONTRIBUTE TO THE SETTLEMENT. 12/11/2014: CLAIMS INVOLVING NFP SECURITIES HAVE SETTLED FOR $100,000, BRING THE TOTAL SETTLEMENT TO $116,714.16. STUART HOROWITZ WAS NOT ASKED TO NOR DID HE CONTRIBUTE TO THE NFP SETTLEMENT. THIS MATTER IS NOW CLOSED.

ALLEGED ACTIVITY DATES ARE 11/2007 TO 07/2009. CLAIMANTS ALLEGE THAT THE REPRESENTATIVE MADE UNSUITABLE INVESTMENT RECOMMENDATIONS THAT RESULTED IN LOSSES IN THE CLAIMANTS' ACCOUNT. ADDITIONAL ALLEGATIONS ARE MISREPRESENTATION, BREACH OF FIDUCIARY DUTY, NEGLIGENCE, FRAUD, AND BREACH OF CONTRACT.

$5,000.00

$121,714.16

I AM NOT NAMED IN THIS PROCEEDING. NEVERTHELESS, THE ALLEGATIONS CONCERNING ME ARE WITHOUT MERIT, AND I DENY THEM IN THEIR ENTIRETY. 04/25/2014: WITHOUT ADMITTING ANY LIABILITY OR WRONGDOING, SECURITIES AMERICA HAS SETTLED ALL CLAIMS INVOLVING THE FIRM. STUART HOROWITZ WAS NOT ASKED TO NOR DID HE CONTRIBUTE TO THE SETTLEMENT. 11/14/2014: CLAIMS INVOLVING NFP SECURITIES HAVE SETTLED FOR $105,000 BRING THE TOTAL SETTLEMENT TO $121,714.16. STUART HOROWITZ WAS NOT ASKED TO NOR DID HE CONTRIBUTE TO THE SETTLEMENT. THIS MATTER IS NOW CLOSED.

CLAIMANT ALLEGES THAT THE REPRESENTATIVE MADE UNSUITABLE INVESTMENT RECOMMENDATIONS THAT RESULTED IN LOSSES IN THE CLAIMANT'S ACCOUNT. ADDITIONAL ALLEGATIONS ARE MISREPRESENTATION, BREACH OF FIDUCIARY DUTY, NEGLIGENCE, FRAUD, AND BREACH OF CONTRACT.

$5,000.00

$110,000.00

I AM NOT NAMED IN THIS PROCEEDING. NEVERTHELESS, THE ALLEGATIONS CONCERNING ME ARE WITHOUT MERIT, AND I DENY THEM IN THEIR ENTIRETY.

CLAIMANT ALLEGES THAT FROM OCTOBER 2006 TO MARCH 2009, THE REPRESENTATIVE MADE UNSUITABLE INVESTMENT RECOMMENDATIONS RESULTING IN LOSSES IN HER ACCOUNTS. ADDITIONAL ALLEGATIONS ARE MISREPRESENTATION, BREACH OF FIDUCIARY DUTY, FRAUD, NEGLIGENCE, BREACH OF CONTRACT, VIOLATIONS OF FEDERAL SECURITIES LAW, FINRA RULES OF FAIR PRACTICE AND FLORIDA COMMON LAW.

$5,000.00

$16,500.00

THE ALLEGATIONS CONCERNING ME ARE WITHOUT MERIT, AND I DENY THEM IN THEIR ENTIRETY. 9/9/2013: RESPONDENTS SAI AND NFP SECURITIES SETTLED THIS MATTER FOR $3,000 AND $13,500, RESPECTIVELY, FOR A TOTAL SETTLEMENT OF $16,500.

CLIENT ALLEGED THEIR INVESTMENT IN CAPITAL SOLUTIONS WAS A BAD INVESTMENT AND UNSUITABLE BASED ON THEIR RISK TOLERANCE AND INVESTMENT OBJECTIVES.

$5,000.00

CLAIMANTS ALLEGE THAT BEGINNING IN DECEMBER OF 2006 AND THROUGH JUNE 2009, THE REPRESENTATIVE RECOMMENDED PURCHASES OF A PRIVATE PLACEMENT WHICH WERE UNSUITABLE. ALLEGATIONS ARE MISREPRESENTATION, UNSUITABLILITY, FRAUD, NEGLIGENCE, BREACH OF FIDUCIARY DUTY AND VIOLATIONS OF INDUSTRY RULES AND REGULATIONS.

$630,000.00

$260,000.00

THE ALLEGATIONS CONCERNING ME ARE WITHOUT MERIT, AND I DENY THEM IN THEIR ENTIRETY.

ALLEGED ACTIVITY DATES ARE 12/2006 TO 07/2009. CLAIMANT ALLEGES THAT BEGINNING IN DECEMBER 2006, THE REPRESENTATIVE RECOMMENDED THAT SHE INVEST IN VARIOUS HIGH RISK, ILLIQUID INVESTMENTS. THE ALLEGATIONS ARE MISREPRESENTATION, UNSUITABILITY, BREACH OF FIDUCIARY DUTY, NEGLIGENCE, FRAUD AND BREACH OF CONTRACT.

$500,000.00

$266,714.16

I AM NOT NAMED IN THIS PROCEEDING. NEVERTHELESS, THE ALLEGATIONS CONCERNING ME ARE WITHOUT MERIT, AND I DENY THEM IN THEIR ENTIRETY. 04/25/2014: WITHOUT ADMITTING ANY LIABILITY OR WRONGDOING, SECURITIES AMERICA HAS SETTLED ALL CLAIMS INVOLVING THE FIRM FOR $16,714.16. STUART HOROWITZ WAS NOT ASKED TO NOR DID HE CONTRIBUTE TO THE SETTLEMENT. CLAIMS INVOLVING NFP SECURITIES HAVE BEEN SETTLED FOR $250,000.

CLAIMANTS ALLEGE THAT BEGINNING IN 2007, REPRESENTATIVE CAUSED CLAIMANTS TO INVEST IN UNSUITABLE, HIGH RISK INVESTMENTS THAT WERE CONTRARY TO THEIR STATED OBJECTIVES. ALLEGATIONS INCLUDE NEGLIGENCE, BREACH OF FIDUCIARY DUTY, BREACH OF CONTRACT, MISREPRESENTATION AND OVERCONCENTRATION.

$445,000.00

$75,000.00

THE ALLEGATIONS AGAINST ME ARE WITHOUT MERIT AND I DENY THEM IN THEIR ENTIRETY.

CLIENT SENT E-MAIL TO REPRESENTATIVE ALLEGING LOSSES RELATING TO THEIR HENNESSEY INCOME FUND / CAPITAL SOLUTIONS MONTHLY INCOME FUND INVESTMENT.

$65,000.00

[CUSTOMER] TENDS TO VENT HIS FRUSTRATIONS WITH THE FINANCIAL MARKETS IN WRITING FROM TIME TO TIME. I HAVE KNOWN [CUSTOMER] FOR 30+ YEARS. [CUSTOMER] HAS CLARIFIED HIS COMMENTS IN A SUBSEQUENT EMAIL TO ME INDICATING THAT HE DID NOT MEAN TO COMPLAIN, HOWEVER, NEEDED TO EXPRESS HIS DISPLEASURE WITH THE MARKETS.

IN CONNECTION WITH THE RECOMMENDATION AND SALE OF REAL ESTATE INVESTMENTS, CLAIMANTS ALLEGE VIOLATION OF FLORIDA'S SECURITIES INVESTOR PROTECTION ACT, FRAUDULENT INDUCEMENT, BREACH OF FIDUCIARY DUTY, AND GROSS NEGLIGENCE.

$9,400,000.00

$865,000.00

I DENY ALL ALLEGATIONS MADE IN THIS PROCEEDING. THIS MATTER INVOLVES THREE SETS OF PLAINTIFFS. THE FIRST SET OF PLAINTIFFS' CLAIMS WERE ORIGINALLY FILED IN FINRA ARBITRATION BUT WERE REMOVED TO COURT AFTER THE PANEL DISMISSED A PORTION OF THEIR CLAIMS ON ELIGIBILITY GROUNDS. THIS SET OF PLAINTIFFS MAINTAIN CLAIMS AGAINST ME AND CERTAIN OTHER DEFENDANTS IN THIS ACTION. THE SECOND AND THIRD SETS OF PLAINTIFFS DID NOT MAINTAIN CLAIMS AGAINST ME IN THIS ACTION, BUT MAINTAINED CLAIMS AGAINST ANOTHER DEFENDANT AND ME IN A FINRA ARBITRATION PROCEEDING. THESE PLAINTIFFS' CLAIMS AGAINST ME AND THE OTHER RESPONDENTS IN THE FINRA ARBITRATION, AS WELL AS THEIR CLAIMS IN THIS COURT ACTION, HAVE BEEN SETTLED. THE COMBINED CLAIMS OF THE SECOND AND THIRD SETS OF PLAINTIFFS WERE SETTLED FOR A TOTAL OF $868,000: ON 12/13/2011 THE SECOND SET OF PLAINTIFFS' CLAIMS WERE SETTLED FOR $462,500. SHE ALLEGED $3 MILLION IN DAMAGES; AND ON 12/16/2011 THE THIRD SET OF PLAINTIFFS' CLAIMS WERE SETTLED FOR $402,500. THEY ALLEGED $3,800,000 IN LOSSES. ONLY THE FIRST SET OF PLAINTIFFS' CLAIMS REMAIN IN THIS ACTION. 01/30/2013: THE FIRST SET OF PLAINTIFFS' CLAIMS HAVE BEEN DISMISSED. THE MATTER IS NOW CLOSED.

IN CONNECTION WITH THE RECOMMENDATION AND SALE OF REAL ESTATE PROPERTY INVESTMENTS,CLAIMANTS ALLEGE MISREPRESENTATION, VIOLATION OF FLORIDA'S SECURITIES INVESTOR PROTECTION ACT, FRAUDULENT INDUCEMENT, BREACH OF FIDUCIARY DUTY, AND GROSS NEGLIGENCE.

$9,600,000.00

$903,000.00

I DENY ALL ALLEGATIONS MADE IN THIS ARBITRATION. THIS MATTER ORIGINALLY INVOLVED THREE SETS OF CLAIMANTS. ON 06/03/2011 THE CLAIMS OF THE FIRST SET OF CLAIMANTS' WERE REMOVED TO COURT AFTER THE PANEL DISMISSED A ORTION OF THEIR CLAIMS ON ELIGIBILITY GROUNDS. ON 12/13/2011 THE MATTER WAS SETTLED WITH THE SECOND CLAIMANT FOR $462,500. SHE ALLEGED DAMAGES OF $3,225,000. ON 12/16/2011 THIS MATTER WAS SETTLED WITH THE THIRD SET OF CLAIMANTS FOR $402,500. THEY ALLEGED LOSSES OF $3,800,000. CLAIMS MADE BY CLAIMANTS THAT WERE DISMISSED ON 6/3/11 AND SUBSEQUENTLY FILED IN COURT SETTLED FOR $35,000. FIRM WAS NOTIFIED OF THE SETTLEMENT ON 01/06/2014.

FROM NOVEMBER 2004-JUNE 2009, CLAIMANTS ALLEGE THAT REPRESENTATIVE IMPROPERLY PLACED THEM IN HIGH RISK, SPECULATIVE INVESTMENTS THAT WERE UNSUITABLE GIVEN THEIR LOW-MODERATE RISK TOLERANCE. ADDITIONAL ALLEGATIONS INCLUDE NEGLIGENCE, BREACH OF FIDUCIARY DUTY, MISREPRESENTATION & OMISSIONS, AND BREACH OF CONTRACT.

$257,000.00

$60,000.00

THE ALLEGATIONS AGAINST ME ARE WITHOUT MERIT AND I DENY THEM IN THEIR ENTIRETY.