CLIENT ALLEGED BREACH OF FIDUCIARY DUTY WITH RESPECT TO THE INCORRECT INFORMATION HE WAS PROVIDED ABOUT WHAT THE EFFECTS WOULD BE ON THE PRINCIPAL PROTECTION RIDER ON THE ANNUITY IF THEY CHANGED OWNERSHIP FROM HIS EX-WIFE TO HIM. DAMAGES UNSPECIFIED. 2008.

$5,000.00

The client has made it clear repeatedly that they did not hold me personally responsible for any of the deficiencies included in his complaint. The complaint was directed toward Pacific Life claiming that they had misled both the client and me with respect to what the effects would be on the principal protection rider on his annuity if ownership were changed from his ex-wife to himself. My name was only brought into the matter by Morgan Stanley Smith Barney since I was the broker of record at the time, and against the express wishes of the client. The client intended to clear up this matter with a letter which included the following: "I did not intend to accuse Mr. Levine with respect to the allegations???. My allegations were not intended to be directed to Mr. Levine. I never believed that Mr. Levine committed a breach of fiduciary duty. It has always been my opinion that my concerns were caused by an administrative error at MSSB, Pac Life, or both." My financial contribution to the settlement of this case was zero dollars. Pacific Life bore the burden of the financial settlement.