AWARD NASD REGULATION, INC., OFFICE OF DISPUTE RESOLUTION In the matter of the Arbitration Between Name of Claimant(s) Rose-Marie Corns tock, Trustee, Comstock Family Trust, Rose- Marie Comstock, Conservator for the Estate of Piety Ferreira Arbitration No. 96-02087 Name of Respondent(s) Corporate Benefit Securities Inc. Leonard Kahn REPRESENTATION For Claimants: Matthew F. Quint, Esq., Quint & Valkevich, San Francisco, Califo

AWARD NASD Regulation, Inc. Office of Dispute Resolution^ In the Matter of the Arbitration Between Name of Claimant Elmer G. Nordstrom and . 96-02086 Name of Respondent National Discount Brokers REPRESENTATION OF PARTIES Elmer G. Nordstrom ("Claimant") was represented by Stephen G. Froehle, Esq., Persian, MacGregor & Thompson, Minneapolis, Minnesota. National Discount Brokers ("Respondent") was represented by David E. Robbins, Esq., Kaufman,

N.A.S.D. AWARD NATIONAL ASSOCIATION OF SECURITIES DEALERS In the Matter of the Arbitration Between Name of Claimant Stuart N. Costello 96-02082 Name of Respondent Smith Barney, Inc. (formerly Smith Barney Shearson, Inc.) CASE SUMMARY In a claim filed with the National Association of Securities Dealers Regulation, Inc. on May 14, 1996, claimant Stuart N. Costello ("claimant"), who appeared Pro Se, alleged that in September 1991, he was ad

NASD REGULATION, INC. AWARD OFFICE OF DISPUTE RESOLUTION In the Matter of the Arbitration Between Name of Claimants Charles Maley Bradley Cimo 96-02080 Name of Respondents Julius Baer Securities, Inc. Bank Julius Baer Julius Baer Holdings REPRESENTATION For Claimants Charles L Maley and Bradley D 4 Cimo {"Claimants") appeared Jeffrey L. Liddle, Esq. and AllanS. Bloom, Esq. of the law firm of Liddle & Robinson, L.L.P. located

Award NASD Dispute Resolution In the Matter of the Arbitration Between: Joy A. Swanson, Claimant v. CIBC World Markets Corp., Larry Ray Bishop, and Carl Thomas Chaleffi, Respondents Case Number: 01-02068 Hearing Site: Seattle, Washington REPRESENTATION OF PARTIES For Claimant; For Respondents: Kennard M. Goodman, Esq. Ryan, Swanson & Cleveland, PLLC Seattle, Washington Lloyd S. Clareman, Esq. Law Offices of Lloyd S. Clareman

NASD REGULATION, INC. FINAL ORDER NASD REGULATION, INC. In the Matter of the Arbitration Between Name of Claimant Bishop. Rosen & Co.. Inc. 96-02079 Name of Respondent Jerry Terry Saperstein REPRESENTATION For Claimant Bishop, Rosen & Co., Inc. ("Claimant") appeared Michael Einbinder, Esq. of Einbinder & Dunn, P.C., New York, New York. For Respondent Jerry Terry Saperstein ("Respondent") appeared Jerome Olitt of Stamford. Connecticut. CA

AWARD NASD REGULATION, INC., OFFICE OF DISPUTE RESOLUTION In the matter of the Arbitration Between Name of Claimant F. Clark Gardner, M.D., v. Name of Respondents Stratton Oakmont, Inc., Samuel R. Weber, Daniel M. Porush, Jordan Shamah, Andrew T. Greene, Paul F. Byrne, Mathias V. Tiffert, Leonard Dunn, and Steve Sanders NASD Regulation, Inc. Arbitration No. 96-02076 REPRESENTATION For Claimant: For Respondent Daniel M

N.A.S.D. AWARD In the Matter of the Arbitration Between Name of Claimant Biltmore Securities, Inc. 96-02068 Name of Respondent Lee Duran CASE SUMMARY In a claim filed with the National Association of Securities Dealers, Inc. on May 15, 1996, claimant Biltmore Securities, Inc. ("claimant") through its representative and counsel, Peri Erlanger, of the law Firm of Bernstein & Wasserman, LLP, located in New York, New York, alleged that responden

N.A.S.D. AWARD NATIONAL ASSOCIATION OF SECURITIES DEALERS In the Matter of the Arbitration Between Name of Claimant George W. Fogleman 96-02065 Name of Respondent Prudential Securities Inc CASE SUMMARY In a claim filed with the National Association of Securities Dealers, Inc. on May 13, 1996, Claimant George W. Fogleman ("Claimant") who appeared Pro Se, alleged that in March 1994 he transferred his Individual Retirement Account to Respondent

N.A.S.D. AWARD NATIONAL ASSOCIATION OF SECURITIES DEALERS In the Matter of the Arbitration Between Name of Claimant Carol Kunik 96-02064 Name of Respondent Bradford P. Billings CASE SUMMARY In a claim filed with the National Association of Securities Dealers, Inc. on May 13, 1996, Claimant Carol Kunik ("Claimant"), who appeared Pro Se, alleged that Respondent Bradford P. BUlmgs ("Billings") failed to execute a sell order. Claimant further al