2005 Advertising-Related News Releases

10/6/05   NASD, NYSE Regulation, and NASAA Applaud SEC Approval of New, Uniform Definition of "Branch Office" and Centralized Registration System
9/30/05   NASD Fines David Lerner Associates $115,000 For Misleading Advertising and Communications With The Public
9/29/05   Edward D. Jones Fined $300,000 for Failing to Disclose Municipal Bond Yields on Confirmations to Customers
8/8/05   NASD Issues Guidance Regarding Equity Indexed Annuity Sales
8/2/05   NASD Orders Morgan Stanley to Pay Over $6.1 Million for Fee-Based Account Violations
7/6/05   NASD Fines Hornor, Townsend & Kent, Inc. $325,000 for Improper Sales Contests, Email and Supervision Violations
6/13/05   NASD Charges Pennsylvania's Scott W. Ryan, Ryan & Company with Impermissible Short Selling Scheme for Hedge Fund Clients
5/4/05   NASD Investor Education Foundation Calls for Research Aimed at Improving Information Disclosed to Investors
4/29/05   Waddell & Reed, Inc. Agrees to Pay $5 Million Fine, up to $11 Million in Restitution to Settle NASD Charges Relating to Variable Annuity Switching Campaign
4/27/05   NASD Fines Raymond James $750,000 for Fee-Based Account Violations
4/13/05   NASD Sanctions First Command Broker for Deceptive Conduct
4/6/05   NASD Offers Firms Best Practices for Reviewing New Investment Products
4/4/05   NASD Endorses Concise, Web-Based Point of Sale Mutual Fund Disclosure
3/30/05   Thomas Weisel Partners to Pay $1.75 Million to Settle NASD Charges of IPO, E-Mail Retention Violations
3/23/05   NASD Fines Citigroup Global Markets, American Express and Chase Investment Services More Than $21 Million for Improper Sales of Class B and C Shares of Mutual Funds
3/16/05   Jefferson Pilot to Pay Over $500,000 in First VUL Market Timing Action; NASD Also Fines Affiliate $125,000 for E-Mail Retention Violations
3/7/05   NASD Charges Knight Securities' Kenneth Pasternak, John Leighton With Supervisory Violations in Fraudulent Sales to Institutional Customers
2/24/05   NASD Charges California Broker With Fraud in Municipal Securities Transactions
1/14/05   NASD Fines Analyst $75,000 for Circulating Rumor
1/12/05   Banc One Securities Corporation Fined $400,000 for Supervisory Failures Relating to Late Trading