CLAIMANT ALLEGED RECKLESS AND NEGLIGENT MANAGEMENT OF CLAIMANT'S ACCOUNT, INCLUDING UNSUITABLE, EXCESSIVE AND UNAUTHORIZED TRADING, MAKING MISREPRESENTATIONS, AND FAILING TO FOLLOW INDUSTRY RULES AND STANDARDS. FROM 2008 TO 2015.

$60,000.00

$20,000.00

CLIENT ALLEGES BREACH OF FIDUCIARY DUTY, NEGLIGENCE, NEGLIGENT SUPERVISION, FRAUD, BREACH OF CONTRACT, BREACH OF CONTRACT (THIRD PARTY BENEFICIARY). FROM 2002 TO 2015.

$150,000.00

UNSUITABILITY, FRAUD, BREACH OF CONTRACT, NEGLIGENT SUPERVISION, BREACH OF FIDUCIARY DUTY, FROM 2004 TO 2012

$28,000.00

CUSTOMER ALLEGES THAT REGISTERED REPRESENTATIVE RECOMMENDED UNSUITABLE SECURITIES, FROM 1/1/2014 TO PRESENT.

$440,000.00

$52,500.00

Client alleges that Respondent (Oppenheimer) and its registered representative Bennett Broad failed to present a suitable investment plan to claimants; failed to manage Claimants' accounts in a manner consistent with Claimants' actual investment objectives; engaged in unsuitable transactions; made numerous misrepresentations and material omissions of fact; engaged in unauthorized trading; failed to follow basic industry rules and regulations. FROM 3/5/2003 TO 4/15/2015

$15,000.00

UNAUTHORIZED TRADING, UNSUITABLE RECOMMENDATIONS, BREACH OF CONTRACT, BREACH OF DUTY. FROM APRIL 2013 TO APRIL 2015.

$55,000.00

$10,000.00

CLAIMANT ALLEGES THAT THE FINANCIAL ADVISOR, AMONG OTHER THINGS, ENGAGED IN UNAUTHORIZED AND EXCESSIVE TRADING, FAILED TO PROVIDE A SUITABLE INVESTMENT STRATEGY, MADE UNTRUE STATEMENTS AND OMISSIONS OF MATERIAL FACT. FROM 7/1/2007 TO 7/31/2015.

$172,231.00

$55,000.00

CLIENTS ALLEGE THAT UNSUITABLE INVESTMENTS WERE MADE IN ACCOUNTS. NO TIME PERIOD SPECIFIED, BUT FINANCIAL ADVISOR BEGAN HANDLING ACCOUNTS IN MAY 2013.

$55,790.00

CLAIMANT ALLEGES THAT THE FINANCIAL ADVISOR, AMONG OTHER THINGS, ENGAGED IN IMPROPER SALES PRACTICES AND PROVIDED NEGLIGENT INVESTMENT ADVICE BY PURCHASING HIGH RISK INVESTMENTS SUCH AS PENNY STOCKS AND OPTIONS IN CLAIMANT'S ACCOUNT(S). FROM 3/1/2003 TO 11/1/2015.

$400,000.00

$75,000.00

CLAIMANT ALLEGES THAT THE FINANCIAL ADVISOR, AMONG OTHER THINGS, ENGAGED IN UNAUTHORIZED AND EXCESSIVE TRADING, OFFERED UNSUITABLE INVESTMENTS, MADE MISREPRESENTATIONS AND MATERIAL OMISSIONS AND FAILED TO DISCLOSE CERTAIN COMMISSIONS CHARGED FROM 4/1/2003 TO 5/30/2015.

$1,587,000.00

$85,000.00

CLAIMANT ALLEGES THAT THE FINANCIAL ADVISOR, AMONG OTHER THINGS, ENGAGED IN UNAUTHORIZED AND EXCESSIVE TRADING, OFFERED UNSUITABLE INVESTMENTS, IMPROPERLY UTILIZED MARGIN, MADE MISREPRESENTATIONS AND MATERIAL OMISSIONS AND FAILED TO FOLLOW INDUSTRY RULES AND REGULATIONS. FROM 3/1/2003 TO 9/30/2015.

$600,000.00

$35,000.00

CLAIMANT ALLEGES THAT THE FINANCIAL ADVISOR, AMONG OTHER THINGS, ENGAGED IN UNAUTHORIZED AND EXCESSIVE TRADING, OFFERED UNSUITABLE INVESTMENTS, MADE MISREPRESENTATIONS AND MATERIAL OMISSIONS AND FAILED TO FOLLOW INDUSTRY RULES AND REGULATIONS. FROM 4/1/2003 TO 4/30/2015

$600,000.00

$7,500.00

CLAIMANT ALLEGES THAT THE FINANCIAL ADVISOR, AMONG OTHER THINGS, ENGAGED IN UNAUTHORIZED AND EXCESSIVE TRADING, OFFERED UNSUITABLE INVESTMENTS, MADE MISREPRESENTATIONS AND MATERIAL OMISSIONS AND FAILED TO FOLLOW INDUSTRY RULES AND REGULATIONS. FROM 11/18/2011 TO 4/30/2015.

$125,000.00

$20,000.00

breach of contract, churning, unauthorized trading, violation of Pennsylvania Securities Law, violation of the FINRA Suitability Rules, breach of fiduciary duty, and professional negligence.

$150,000.00

FINRA

RESPONDENT BROAD FAILED TO RESPOND TO FINRA REQUEST FOR INFORMATION.

LETTER

Bar (Permanent)

All Capacities

Indefinite

8/25/2015

PURSUANT TO FINRA RULE 9552(H) AND IN ACCORDANCE WITH FINRA'S NOTICE OF SUSPENSION AND SUSPENSION FROM ASSOCIATION LETTERS DATED MAY 22, 2015 AND JUNE 15, 2015, RESPECTIVELY, ON AUGUST 25, 2015, BROAD IS BARRED FROM ASSOCIATION WITH ANY FINRA MEMBER IN ANY CAPACITY. RESPONDENT FAILED TO REQUEST TERMINATION OF HIS SUSPENSION WITHIN THREE MONTHS OF THE DATE OF THE NOTICE OF SUSPENSION; THEREFORE, HE IS AUTOMATICALLY BARRED FROM ASSOCIATION WITH ANY FINRA MEMBER IN ANY CAPACITY.

CLIENTS ALLEGED THAT INVESTMENTS WERE NOT MADE IN THEIR BEST INTERESTS AND PERFORMED POORLY AND THAT FA DID NOT CALL CLIENTS PRIOR TO MAKING INVESTMENTS IN THEIR ACCOUNTS.

$15,000.00

CLAIMANT ALLEGES UNSUITABLE RECOMMENDATIONS, AND OMMISSION WITH RESPECT TO HIS PORTFOLIO

$100,000.00

$18,000.00

ALL ACCOUNTS HELD BY THE CUSTOMER WERE PROFITABLE AND REGISTRANT DENIES THE ALLEGATIONS IN THE STATEMENT OF CLAIM.

CLIENT ALLEGES THAT UNAUTHORIZED AND UNSUITABLE TRANSACTIONS TOOK PLACE IN HIS ACCOUNT FROM 2010 - 2012.

CLIENT ALLEGES THAT UNAUTHORIZED AND UNSUITABLE TRANSACTIONS TOOK PLACE IN THEIR ACCOUNTS, AND THAT THE ACCOUNTS WERE CHURNED. AKKEGED TUNE OERUID US 2008 - 2012.

CLAIMANT ALLEGES INTER ALIA MISREPRESENTATION/OMMISSIONS REGARDING AUCTION RATE SECURITIES

$525,000.00

$95,000.00

RESPONDENT AND REGISTRANT DENY THE ALLEGATIONS IN THE STATEMENT OF CLAIM. CLAIMANT HAD SUFFICIENT LIQUID ASSETS AT ALL RELEVANT TIMES. SETTLEMENT INVOLVED THE FIRM'S AGREEMENT TO REPURCHASE A PORTION OF CLAIMANT'S AUCTION RATE SECURITIES AT THE PRICE THE ISSUER PREVIOUSLY OFFERED, AND CLAIMANT AGREED TO HOLD THE BALANCE OF CLAIMANT'S AUCTION RATE SECURITIES UNTIL REDEEMED BY ISSUERS.

CLAIM ALLEGES EXCESSIVE UNSUITABLE AND UNAUTHORIZED TRADING FROM 2006 TO 2012.

$1,600,000.00

$131,945.00

THE CUSTOMER HAS ALLEGED THAT IN ESSENCE, THE SECURITIES PURCHASED BY HIS FINANICAL ADVISOR WERE NOT SUITABLE.

$5,000.00

CLAIM ALLEGES EXCESSIVE, UNSUITABLE AND UNAUTHORIZED TRADING

$242,650.00

$121,500.00

CLAIMANT ALLEGES UNSUITABILITY, UNAUTHORIZED TRADING, AND FRAUD IN REGARDS TO TRADING IN HER ACCOUNT.

$45,000.00

$12,000.00

CLAIMANT ALLEGES THAT FINANCIAL ADVISOR BROAD RECOMMENDED UNSUITABLE SECURITIES, INCLUDING TWO VARIBLE ANNUITIES, MADE MISREPRESENTATIONS AND UNAUTHORIZED TRADES, AND ENGAGED IN EXCESSIVE TRADING.

$150,000.00

$25,000.00

CLIENT VERBALLY ALLEGES THAT FINANCIAL ADVISOR MISREPRESENTED THE FEE STRUCTURE ON HIS ACCOUNT. DAMAGES UNSPECIFIED.

$25,000.00

MR. BROAD DENIES ANY AND ALL CLAIMS BY CLIENT. CLIENT HAD AN AGREED UPON FLAT FEE ACCOUNT AT UBS, AND RECEIVED QUARTERLY NOTICES ON HIS STATEMENT OF THE FEES.

CLAIMANT ALLEGES THAT BROKER PURCHASED UNSUITABLE RISKY SPECULATIVE SECURITIES AND OPTIONS FOR HIS ACCOUNT.

$600,000.00

$147,500.00

CUSTOMER CLAIMS THAT IN JANUARY 2003, BROKER MADE SEVERAL INAPPROPRIATE INVESTMENTS THAT HAVE RESULTED IN SIGNIFICANT LOSSES AND WILL BE SUBJECT TO DEFERRED SALES CHARGES WHEN LIQUIDATED. DAMAGES: ESTIMATED TO BE OVER $5,000.

CUSTOMER WROTE BACK TO UBS PAINEWEBBER STATING "IN RETROSPECT ALL STOCK TRADES WERE AUTHORIZED AND MY RECORDS REFLECT THE CONVERSATION WITH MY BROKER".

CLIENT ALLEGES THAT EXCHANGE OF HARTOFRD ANNUITY FOR PACFIC LIFE ANNUITY WAS NOT SUITABLE. CLIENT ALSO ALLEGES THAT BROKER DID NOT TELL HIM ABOUT WITHDRAWAL FEATURES OF THE PACIFIC LIFE ANNUITY AND THE AVAILABILITY OF ANOTHER PRODUCT WITH A SHORTER SURRENDER PERIOD.

$145,000.00

CLIENT FAILED TO RESPOND.

ALLEGES UNSUITABLE RECOMMENDATION AND POOR PERFORMANCE

$82,000.00

CLIENT ALLEGES MISREPRESENTATION AND EXCESSIVE TRADING. DAMAGES ESTIMATED TO EXCEED $5000. TIME PERIOD: 1994-PRESENT

$90,000.00

CLAIMANTS, HUSBAND AND WIFE, ALLEGE CHURNING, UNSUITABLE AND UNAUTHORIZED TRADES, AND THAT FA SENT MANUFACTURED ACCOUNT STATEMENTS FALSELY INDICATING ACCOUNTS WERE PROFITABLE.

$500,000.00

$34,000.00

CLIENT ALLEGES MISREPRESENTATION, BREACH OF FIDUCIARY DUTY, NEGLIGENCE AND VIOLATION OF STATE SECURITIES LAWS IN CONNECTION WITH THE PURCHASE OF MUTUAL FUNDS.

$10,000.00

$5,000.00

CLAIMANTS ALLEGE MISREPRESENTATION, CONCEALMENT, UNSUITABLE INVESTMENTS AND EXCESSIVE TRADING.

$210,000.00

$48,619.04

AWARDED $14,559.72 FROM UBS FINANCIAL SERVICES AND $30,684.07 PLUS 6% PER ANNUM FROM 10/29/01-8/12/03 FOR BENNETT BROAD.

CUSTOMER CLAIMS THAT HE WAS PLACED IN TWO UNSUITABLE SECURITIES WHICH RESULTED IN LOSSES. TIME PERIOD: 1999 - 2001.

$12,138.00

$6,000.00

CUSTOMER CLAIMS THAT HE LOST A SUBSTANTIAL AMOUNT OF MONEY DUE TO THE BACK END FEES HE WAS CHARGED ON MUTUAL FUNDS. HE ALLEGES THAT THE MUTUAL FUNDS WERE SOLD OUT OF A FUND FAMILY IN A SHORT PERIOD OF TIME." FINALLY, CUSTOMER CLAIMS THAT BROKER PURCHASED OPTIONS WHICH WAS CONTRARY TO HIS MODERATE AND MODERATE/CONSERVATIVE APPROACH. TIME PERIOD UNSPECIFIED.

$87,111.00

CLIENT'S REQUESTS FOR MEDIATION WAS ALSO DENIED.

ALLEGED MISREPRESENTATION OF DEFERRED SALES CHARGE CLAIMING DAMAGES OF $8457.86.

$8,457.86

MR. BROAD DENIED ALLEGATIONS MADE BY CLIENT. THE CLIENT WITHDREW THE COMPLAINT IN WRITING ON JANUARY 10, 2001. THE CUSTOMER STATED THAT THE COMPLAINT WAS "BASED ON A MISUNDERSTANDING AND I AM SATISFIED WITH THE SERVICES RENDERED BY BROKER WITH REGARD TO MY ACCOUNT."

CLIENTS CLAIMED UNSUITABLE INVESTING IN TWO MUTUAL FUNDS AND AN ANNUITY. AMOUNT OF DAMAGES UNSPECIFIED.

$23,233.59

MR. BROAD DENIES ALL ALLEGATIONS AND BELIEVES THAT HE ACTED SUITABLY IN ALL RESPECTS. DEAN WITTER PAID THE CUSTOMERS A NET SETTLEMENT OF APPROXIMATELY $23,234 TO RESOLVE THEIR COMPLAINT.

SECURITY AND NON-INCOME PRODUCING SHOULD NOT HAVE BEEN SOLD AND REPLACED WITH INCOME PRODUCING SECURITIES.

$25,000.00

RESPONDENTS SETTLED THIS MATTER, WITHOUT ADMITTING LIABILITY OF ANY KIND, IN ORDER TO AVOID THE COST OF LITIGATION.

ALLEGED FAILURE TO DISCLOSE MUTUAL FUND CHARGES AND ABILITY TO SELL (LIQUIDITY). CLAIMED DAMAGES IN EXCESS OF $12,000.

$12,000.00

AFTER FIRM CONTACTED CUSTOMERS, THEY WITHDREW THE COMPLAINT IN WRITING.

SUPPOSED BREACH OF FIDUCIARY DUTY IN TRANSFERS BETWEEN FIXED RATE AND VARIABLE ANNUITIES AND CLAIMING LOSSES OF $21,500. BUT BELIEVED TO BE MANUAL OR NON-EXISTENT. EVENTS OCCURRED WHILE THE BROKER WAS EMPLOYED WITH DEAN WITTER.

$21,500.00

DEAN WITTE REYNOLDS INC. MR. BROAD DENIES ALL ALLEGATIONS.