State of California Department of Insurance

Based solely on the actions taken by FINRA in June 2014, the State of California Department of Insurance has issued the Order of Summary Revocation and issuance of Restricted License.

Order

Revocation

Issuance of Restricted License

I was not aware of any action by the State of California Department of Insurance or that it was reviewing this matter until receipt of this order on 12/11/15. It appears this action is based solely on FINRA matter 201303775771 dated 6/6/14, which has been previously disclosed. I do not currently have any insurance clients in California.

FINRA

WITHOUT ADMITTING OR DENYING THE FINDINGS, PINNELL CONSENTED TO THE SANCTIONS AND TO THE ENTRY OF FINDINGS THAT THAT SHE FALSELY REPRESENTED TO AN INSURANCE CARRIER THAT SHE WAS AN ASSISTANT TO A BROKER WHO WAS ACTUALLY REGISTERED WITH A DIFFERENT MEMBER FIRM. THE FINDINGS STATED THAT PINNELL MADE THIS FALSE REPRESENTATION IN ORDER TO OBTAIN CUSTOMER ACCOUNT INFORMATION. TWO CUSTOMERS SOUGHT ADVICE FROM PINNELL CONCERNING FIXED ANNUITIES THAT THEY HAD PURCHASED THE BROKER AT A DIFFERENT FIRM. PINNELL CONTACTED THE LIFE INSURANCE COMPANY, REPRESENTING THAT SHE WAS AN ASSISTANT TO THE BROKER, IN ORDER TO OBTAIN CONFIDENTIAL POLICY HOLDER INFORMATION CONCERNING THE FIXED ANNUITIES. WHEN THE LIFE INSURANCE COMPANY ASKED PINNELL TO VERIFY THE BROKER'S AGENT NUMBER, SHE INSTEAD GAVE THE BROKER'S SOCIAL SECURITY NUMBER, WHICH WAS WRITTEN ON LIFE INSURANCE COMPANY PAPERWORK PINNELL HAD BEEN PROVIDED BY THE CUSTOMERS. PINNELL THEN OBTAINED THE INFORMATION SHE WAS SEEKING REGARDING THE FIXED ANNUITIES.

Acceptance, Waiver & Consent(AWC)

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

$5,000.00

Suspension

ALL CAPACITIES

10 BUSINESS DAYS

7/21/2014

8/1/2014

FINE PAID IN FULL ON JULY 11, 2014.

THE "CONFIDENTIAL INFORMATION" REFERRED TO ABOVE WAS THE ACTUAL AMOUNT OF SURRENDER CHARGES INCURRED BY THE CLIENT, WHICH RESULTED FROM SEVERAL EXCHANGES RECOMMENDED BY THE FORMER REGISTERED REPRESENTATIVE. SUCH INFORMATION WAS REQUESTED IN THE PRESENCE OF THE CLIENT. DURING A SEPARATE CALL, NOT IN THE PRESENCE OF THE CLIENT, I INQUIRED ABOUT THE INSURANCE COMPANY'S POLICIES REGARDING MULTIPLE EXCHANGES. MY INTENTION WAS ALWAYS TO ASSIST MY CLIENTS. MY ACTIONS WERE NOT INTENDED TO NOR DID THEY RESULT IN ANY HARM TO THE CLIENT OR MY OWN PERSONAL FINANCIAL GAIN.

STATE OF ILLINOIS DEPARTMENT OF INSURANCE

OBTAINED CONFIDENTIAL POLICYHOLDER INFORMATION FROM AN INSURER ON TWO ILLINOIS CONSUMERS BY IDENTIFYING HERSELF AS THE ASSISTANT TO ANOTHER PRODUCER WHEN IN FACT SHE WAS NOT AND NEVER HAD BEEN A MEMBER OF HIS STAFF, VIOLATING ILLINOIS INSURANCE CODE.

Stipulation and Consent

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

$7,500.00

SHALL NEVER ATTEMPT TO OBTAIN CONFIDENTIAL POLICYHOLDER INFORMATION, OR ANY OTHER INFORMATION, UNDER FALSE PRETENSES.

EDWARD JONES

Discharged

MS. PINNELL WAS TERMINATED FOR IMPERSONATING OVER THE PHONE AN EMPLOYEE OF AN INSURANCE COMPANY TO OBTAIN INFORMATION ON TWO (2) ANNUITY CONTRACTS. THE OWNERS OF THE ANNUITIES WERE A HUSBAND AND WIFE WHO HAD AGREED TO OPEN ACCOUNTS WITH MS. PINNELL AT EDWARD JONES. MS. PINNELL WAS NOT THE FINANCIAL ADVISOR OF RECORD FOR EITHER ANNUITY.