FINANCIAL INDUSTRY REGULATORY AUTHORITY LETTER OF ACCEPTANCE, WAIVER AND CONSENT NO. 2017053470801 TO: Department of Enforcement Financial Industry Regulatory Authority ("FINRA") RE: Wintrust Investments LLC, Respondent Broker-Dealer CRD No. 875 Pursuant to FINRA Rule 9216 of FINRA's Code of Procedure, Wintrust Investments LLC (the "firm" or "Wintrust") submits this Letter of Acceptance, Waiver and Consent ("AWC") for the purpose of proposing a settlement of the alleged rule violations described below.

FINANCIAL INDUSTRY REGULATORY AUTHORITY LETTER OF ACCEPTANCE, WAIVER AND CONSENT NO. 2016049250601 TO: Department of Enforcement Financial Industry Regulatory Authority ("FINRA") RE: Merrill Lynch, Pierce, Fenner & Smith Incorporated, Respondent Broker-Dealer CRD No. 7691 Pursuant to FINRA Rule 9216 of FINRA's Code of Procedure, Merrill Lynch, Pierce, Fenner & Smith Incorporated (the "firm" or "Respondent") submits this Letter of Acceptance, Waiver and Consent ("AWC") for the purpose of proposing a settlement of the alleged rule violations described below.

FINANCIAL INDUSTRY REGULATORY AUTHORITY OFFICE OF HEARING OFFICERS Department of Enforcement, Complainant, v. Cabot Lodge Securities LLC (CRD No. 159712), Respondent. Disciplinary Proceeding NO. 2014041541401 Hearing Officer: COMPLAINT The Department of Enforcement alleges: Summary 1. From August 2012 to February 2016 (the “Relevant Period"), Cabot Lodge Securities LLC (“Cabot Lodge" or the “Firm") participated in an initial public offering (“IPO") of a non-traded real estate investment trust (the “REIT") in which the