FINANCIAL INDUSTRY REGULATORY AUTHORITY LETTER OF ACCEPTANCE, WAIVER AND CONSENT NO. 2016048196801 TO: Department of Enforcement Financial Industry Regulatory Authority ("FINRA") RE: Kalos Capital, Inc., Respondent FINRA Member Firm BD No. 44337 Darren Michael Kubiak, Respondent General Securities Representative CRD No. 1239086 Pursuant to FINRA Rule 9216 of FINRA's Code of Procedure, Respondents Kalos Capital, Inc.

FINANCIAL INDUSTRY REGULATORY AUTHORITY LETTER OF ACCEPTANCE, WAIVER AND CONSENT NO. 2017053574801 TO: Department of Enforcement Financial Industry Regulatory Authority (“FINRA”) RE: Daniel W. Staudacher, Respondent Investment Company and Variable Products Representative CRD No. 2878221 Pursuant to FINRA Rule 9216 of FINRA’s Code of Procedure, Respondent, Daniel W. Staudacher, submits this Letter of Acceptance, Waiver and Consent (“AWC”) for the purpose of proposing a settlement of the alleged rule violations described