CLIENT ALLEGES THAT VARIABLE ANNUITY CHARGES WERE NOT FULLY EXPLAAINED EVEN AFTER SPEAKING WITH WHOLESALER ON TAPED CONVERSATION AND RECEIVING THE PROSPECTUS OVERNIGHT AND SIGNING OFF ON A DISCLOSURE STATEMENT TWICE.

$15,000.00

$22,185.40

CUSTOMER WA REASSIGNED TO MARTIN BRAAM AFTER LOSING A CONSIDERABLE AMOUNT OF MONEY IN MUTUAL FUNDS. CLINT WANTED A NEW ADVISOR AND INVESTMENTS THAT MET HIS NEW INVESTMENT STRATEGY WHICH WERE MET BY THE VARIABLE ANNUITY PRODUCTS. THAT INCLUDED DOWNSIDE PROTECTION AND GMIB AND GMDB FOR HIS CHILDREN WHICH WERE ONE OF HIS MANY CONCERNS, CLIENT RECEIVED SEVERAL PROSPECTUSES AND AFTER SEVERAL MEETINGS WITH MYSELF AND THE WHOLESALERS REGARDING COSTS AND PERFORMANCE NUMBERS THE CLIENT PURCHASED THE PRODUCT IN QUESTION AND CANCELED HIS PURCHASE OF ANOTHER PRODUCT JUST THE WEEK BEFORE.THE CLIENT TALKED TO THE WHOLESALER ON A TAPED CONVERSATION AND THE TRADE WAS APPROVED BY MANAGEMENT BECAUSE OF THE SIZE AND THE PAST RELATIONSHIPS AT THE BANK. THERE WAS NO MALICIOUS CONDUCT IN ANY FORM RELATED TO THIS TRADE, IT WAS ENTIRELY DISCLOSED AS REQUIRED BY THE BANK AND THE INVESTMENT RULES AND LAWS OF THE NASD. THE NASD FOUND NO WRONGFUL CONDUCT BUT THE BANK SETTLED THE CASE TO SATISFY THE CUSTOMER AND AVOID PUBLICITY.I DID NOT PARTICIPANT IN THE FINANCIAL SETTLEMENT.

[CUSTOMER] COMPLAINED THAT IN CONNECTION WITH A SINGLE PREMIUM DEFERRED ANNUNITY ISSUED BY COMMERICAL LIFE THAT I SHOULD HAVE KNOWN THE CREDITING PRACTICES OF THE AGENT AND SHOULD OF SET UP THE ANNUITY SO THAT INTEREST WAS CREDITED UPON RECEIPT OF THE FUNDS.

$40,000.00

$10,000.00

THIS WAS A OPERATIONAL MIX-UP IN WHICH THE PAPERWORK WAS MISPLACED BY MERRILL COSTING THE CLIENT A SIGNIFICANT AMOUNT OF INTEREST ON THE MONIES. I HAD ALL THE PAPERWORK FILED CORRECTLY AND IN TIME TO MEET ALL DEADLINES. MERRILL LYNCH DENIED ALL ALLEGATIONS OF WRONGFUL CONDUCT. MERRILL LYNCH AND COMMERICAL LIFE SETTLED FOR $5,000 EACH TOTALLING $10,000.00.

MERRILL LYNCH, PIERCE, FENNER & SMITH, INC.

Permitted to Resign

[CUSTOMER] ALLEGED THAT I HAD ENGAGED IN UNAUTHORIZED DISCRETIONARY TRADING IN HIS ACCOUNT CLAIMING $25,000.00 IN DAMAGES

THE NASD FULLY INVESTIGATED THE ALLEGATIONS AND FOUND NO EVIDENCE OF WRONG DOING. I WAS NEVER DENIED ,SUSPENDED,OR RESTRICTED IN MY BUSINESS OR LICENSING AND HAVE NEVER PARTICIPATED IN ANY FINANCIAL SETTLEMENT. MERRILL LYNCH ALLOWED ME TO RESIGN ON 1/28/88 AND SETTLED WITH THE CUSTOMER FOR THE LOSSES AT THAT TIME WHICH AMOUNTED TO $30,445.00.

[CUSTOMER] ALLEGED THAT I HAD ENGAGED IN UNAUTHORIZED DISCRETIONARY TRADING IN HIS ACCOUNT CLAIMING $25,000.00 IN DAMAGES

$30,445.00

$30,445.00

THE NASD FULLY INVESTIGATED THE ALLEGATIONS AND FOUND NO EVIDENCE OF WRONG DOING. I WAS NEVER DENIED ,SUSPENDED,OR RESTRICTED IN MY BUSINESS OR LICENSING AND HAVE NEVER PARTICIPATED IN ANY FINANCIAL SETTLEMENT. MERRILL LYNCH ALLOWED ME TO RESIGN ON 1/28/88 AND SETTLED WITH THE CUSTOMER FOR THE LOSSES AT THAT TIME WHICH AMOUNTED TO $30,445.00.