FINRA

RESPONDENT BISSETT FAILED TO RESPOND TO FINRA REQUEST FOR INFORMATION.

LETTER

Bar (Permanent)

All Capacities

Indefinite

12/31/2012

PURSUANT TO FINRA RULE 9552(H) AND IN ACCORDANCE WITH FINRA'S INTENT TO SUSPEND AND NOTICE OF SUSPENSION LETTERS DATED SEPTEMBER 28, 2012 AND OCTOBER 22, 2012, RESPECTIVELY, ON DECEMBER 31, 2012, BISETT IS BARRED FROM ASSOCIATION WITH ANY FINRA MEMBER IN ANY CAPACITY. BISSETT FAILED TO REQUEST TERMINATION OF HIS SUSPENSION WITHIN THREE MONTHS OF THE DATE OF THE NOTICE OF INTENT TO SUSPEND; THEREFORE, HE IS AUTOMATICALLY BARRED FROM ASSOCIATION WITH ANY FINRA MEMBER IN ANY CAPACITY.

FINRA

RESPONDENT BISSETT FAILED TO PAY FINES AND/OR COSTS OF $2,500 IN FINRA CASE #2009016924901.

LETTER

Revocation

PURSUANT TO FINRA RULE 8320, RESPONDENT BISSETT'S FINRA REGISTRATION IS REVOKED FOR FAILURE TO PAY FINES AND/OR COSTS.

FINRA

NASD RULES 2110, 2510(B): BISSETT USED DISCRETION IN A CUSTOMER'S ACCOUNT TO PURCHASE AND SELL MUTUAL FUND POSITIONS, WITHOUT WRITTEN AUTHORIZATION FROM THE CUSTOMER OR ACCEPTANCE OF THE CUSTOMER'S ACCOUNT AS DISCRETIONARY BY HIS MEMBER FIRM. THE CUSTOMER MAINTAINED AN ACCOUNT WITH THE FIRM THAT WAS SERVICED BY BISSETT AND THE CUSTOMER'S ACCOUNT WAS NOT ACCEPTED BY THE FIRM AS A DISCRETIONARY ACCOUNT, NOR DOES THE FIRM ALLOW THE USE OF DISCRETION IN CUSTOMER ACCOUNTS. BISSETT EXERCISED DISCRETION IN THE CUSTOMER'S ACCOUNT WHEN HE BOUGHT 2319.16 SHARES OF A MUTUAL FUND FOR THE CUSTOMER'S ACCOUNT, FOR A TOTAL INVESTMENT OF $ 42,005, AND ALSO USED DISCRETION WHEN HE SOLD 1,960.60 CLASS A SHARES OF AN ANOTHER MUTUAL FUND AND PURCHASED 1,858.74 CLASS A SHARES OF ANOTHER MUTUAL FUND FOR THE CUSTOMER'S ACCOUNT.

Decision & Order of Offer of Settlement

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

$2,500.00

Suspension

ANY CAPACITY

FIVE BUSINESS DAYS

7/5/2011

7/11/2011

WITHOUT ADMITTING OR DENYING THE ALLEGATIONS, BISSETT CONSENTED TO THE DESCRIBED SANCTIONS AND TO THE ENTRY OF FINDINGS; THEREFORE, HE IS FINED $2,500 AND SUSPENDED FROM ASSOCIATION WITH ANY FINRA MEMBER IN ANY CAPACITY FOR FIVE BUSINESS DAYS. THE SUSPENSION IS IN EFFECT FROM JULY 5, 2011 THROUGH JULY 11, 2011.

DURING THE MARKET CRASH OF 2008-2009 A CLIENT GAVE ME ORDERS TO BUY. AS A BROKER A CLIENT CAN GIVE ME DISCRETION AS TO TIME AND PRICE. PAPERWORK WAS DONE BUT IN A DECLINING MARKET I WAITED SEVERAL WEEKS TO INITIATE THE ORDERS. ALTHOUGH I WAS ABLE TO SAVE THE CLIENT MONEY ON THE TRADES, ORAL DISCRETION AS TO PRICE AND TIME IS GOOD FOR THE DAY ONLY. IN THE MARKET CLIMATE WITH PORTFOLIOS DECLINING, MY CLIENT EVIDENTLY TOOK ADVANTAGE OF THE SITUATION TO RECOVER SOME OF HER LOSSES. I FOUGHT THIS FOR SEVERAL YEARS BUT A RULE IS A RULE AND I OVERLOOKED THE ORAL DISCRETION JUST LASTING FOR THE DAY IT WAS GIVEN.

ALLEGED RETIRMENT LIVING PARTNERNSHIP SHARES INAPPROPRIATE FOR HIS ACCOUNT AND MUNICIPAL BONDS SHOULD HAVE BEEN PURCHASED. THE AMOUNT OF THE CLIENT EXCEEDED $30,000.

$20,000.00

THE CLIENT WAS AWARDED $20,000 BISSETT CONTRIBUTED $500 TO THE SETTLEMENT CLIENT RECEIVED PROSPECTUSOVER SIX YEARS PRIOR TO COMPLAINT ON RETIRMENT LIVING WHICH WAS A PUBLICALLY TRADED PARTNERSHIP ON NASDAQ. CLIENT HELD POSITONS FOR SIX YEARS WHILE AWARE OF DECLINE IN INVESTMENT.