CLIENT ALLEGES HE PURCHASED A 2007 VARIABLE ANNUITY BASED ON THE AGENT'S REPRESENTATION THAT IF HE TRANSFERRED FUNDS INTO AXA THAT THEY COULD BE RETURNED TO HIS PRIOR CARRIER WITHOUT A FEE. CLIENT FURTHER ALLEGES THAT THE AGENT DID NOT DISCLOSE THE FEES ASSOCIATED WITH A POTENTIAL TRANSFER. CLIENT IS REQUESTING THE FIRM TO TRANSFER HIS ASSETS WITHOUT THE IMPOSISTION OF A TRANSFER FEE.

$10,177.42

THE FIRM HAS FOUND NO BASIS TO THE CUSTOMER'S COMPLAINT.

CUSTOMER ALLEGES HE WAS MISINFORMED IN CONNECTION WITH THE PURCHASE OF A 2005 VARIABLE ANNUITY. CUSTOMER ALLEGES HE WAS ADVISED THAT HE WOULD BE ELIGIBLE TO TERMINATE HIS CONTRACT WITHOUT THE IMPOSITION OF A CWC IF HE IS NO LONGER EMPLOYED WITH HIS PLAN SPONSER. HOWEVER, THE CUSTOMER HAS BEEN TOLD THAT A $8,000 PENALTY WOULD BE ASSESSED TO WITHDRAW FUNDS. CUSTOMER FURTHER ALLEGES HE WAS NOT INFORMED THAT THE POLICY ALLOWS A TRANSFER OF 10% A YEAR AT THIS TIME WITHOUT A PENALTY. DAMAGES UNSPECIFIED.

AS PER LETTER DATED JUNE 12, 2007, THE FIRM ADVISED THE CUSTOMER THAT NO BASIS WAS FOUND TO THE COMPLAINT. IN ADDITION, ON JUNE 5, 2007, THE FIRM RECEIVED A LETTER FROM THE CUSTOMER WHICH REQUESTED WITHDRAWAL OF THE COMPLAINT.