FINRA

FINRA RULES 2010, 8210: WITTENBURG FAILED TO APPEAR FOR TESTIMONY, AS REQUESTED BY FINRA. FINRA SOUGHT TESTIMONY FROM WITTENBURG CONCERNING HIS SALES OF ALTERNATIVE INVESTMENTS TO HIS MEMBER FIRM'S CUSTOMERS.

Acceptance, Waiver & Consent(AWC)

Bar (Permanent)

All Capacities

10/24/2012

WITHOUT ADMITTING OR DENYING THE FINDINGS, WITTENBURG CONSENTED TO THE DESCRIBED SANCTION AND TO THE ENTRY OF FINDINGS; THEREFORE, HE IS BARRED FROM ASSOCIATION WITH ANY FINRA MEMBER IN ANY CAPACITY.

ARKANSAS SECURITIES DEPARTMENT

ALEX LANCE WITTENBURG SOLD UNSUITABLE SECURITIES AND PROVIDED UNSUITABLE INVESTMENT ADVICE TO ARKANSAS CLIENTS.

Consent

Monetary Penalty other than Fines

$10,000.00

Suspension

INVESTMENT ADVISOR

30 DAYS

9/1/2012

9/30/2012

ALEX LANCE WITTENBURG SHALL NOT APPLY FOR REGISTRATION AS AN AGENT OF A BROKER-DEALER IN ARKANSAS FOR TWO YEARS.

NASD

NASD RULES 2110, 2510(B) - RESPONDENT EXERCISED DISCRETION IN THE ACCOUNTS OF PUBLIC CUSTOMERS WITHOUT PRIOR WRITTEN AUTHORIZATION FROM HIS MEMBER FIRM.

Acceptance, Waiver & Consent(AWC)

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

Suspension

WITHOUT ADMITTING OR DENYING THE FINDINGS, WITTENBURG CONSENTED TO THE DESCRIBED SANCTIONS AND TO THE ENTRY OF FINDINGS, THEREFORE HE IS FINED $30,000 JOINTLY AND SEVERALLY AND SUSPENDED FROM ASSOCIATION WITH ANY NASD MEMBER IN ANY CAPACITY FOR 60 DAYS. THE SUSPENSION IN ANY CAPACITY WILL BE IN EFFECT FROM JULY 17, 2006, THROUGH SEPTEMBER 14, 2006. FINES PAID ON OCTOBER 10, 2008.

AWAC DATED 5.31.06 RECEIVED IN MAIL TODAY 06/05/06. OCCURRED WHILE AT SII, SUSPENSION TO BE SERVED AT THE SAME TIME. FINE IS TO BE PAID ON INSTALLMENT. U6 ON 6/19/06.