The client is claiming that his Financial Advisor did not act on his instruction to invest his money in low risk investments.

THE FORMER CLIENT'S CLAIMS ARE BASELESS. DESPITE OUR MANY DOCUMENTED RECOMMENDATIONS TO THE CONTRARY, THE CLIENT CHOSE TO IGNORE OUR ADVICE, AND ACTED UPON THEIR OWN INITIATIVE. I AM NOT RESPONSIBLE FOR ANY OF THEIR SO-CALLED LOSSES.

MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED

Voluntary Resignation

INTERNAL REVIEW CONCERNING POTENTIAL VIOLATIONS OF FIRM POLICIES REGARDING COMMUNICATIONS WITH CLIENTS AND THE PUBLIC, EMPLOYEE CONDUCT, AND IMPERMISSABLE PAYMENTS.

I WILL BE SUBMITTING AN AMENDED U-4 WITH A MORE COMPLETE RESPONSE TO THE ALLEGATIONS CONTAINED THEREIN WITHIN THE NEXT TWO WEEKS. NONETHELESS, VOLUNTARILY RESIGNED FROM MERILL LYNCH BECAUSE I BELIEVE THAT A FELLOW MERRILL LYNCH AGENT DISCLOSED TO THE MEDIA MY PRIVATE FINANCIAL INFORMATION. THE MEDIA REPORTS INDICATED THAT I GAVE MONEY TO [third party] OR [third party] ARE FALSE.I ALSO DID NOT GIVE ANY MONEY TO [third party], WHO WAS NOT, NOR IS A MERRILL LYNCH CUSTOMER. I ALSO VIOLATED NO MERRILL LYNCH POLICY, PROCEDURE, OR REGULATION, AND I BELIEVE THAT MERRILL LYNCH WAS CONDUCTIONG THIS INVESTIGATION AS A COVER FOR THE MEDIA INQUIRIES IT RECEIVED. FUTHER, I DO NOT BELIEVE THERE IS ANY MERIT TO THE ALLEGATIONS MERRILL LYNCH HAS MADE IN MY FORM U-5.