AWARD NASD Dispute Resolution In the Matter of the Arbitration Between Name of Claimant Myrna Rasmussen and Case Number: 04-04896 Hearing Site: Omaha, Nebraska Names of Respondents Berthel Fisher & Company Financial Services, Inc. and Emily Jean Halsband Third-Party Claimant Berthel Fisher & Company Financial Services, Inc. and Third-Party Respondent Emily Jean Halsband NATURE OF DISPUTE Customer vs. Member Firm and Assoc

NASD DISPUTE RESOLUTION AWARD NASD DISPUTE RESOLUTION CASE: 04-04887 David Lerner Associates, Claimant v. Clifford Grimm, Respondent ATTORNEYS: For Claimant David Lemer Associates ("Claimant") appeared Thomas J. Ruhle, Compliance Officer, David Lerner Associates, Syosset, NY. Respondent Clifford Grimm ("Respondent") appeared pro se, Greenwich, CT. NATURE OF DISPUTE: Member v. Associated Person. DATE FILED: July 7, 2004. CASE SUMMARY: Claimant al

NASD DISPUTE RESOLUTION AWARD NASD DISPUTE RESOLUTION CASE: 04-04886 David Lemer Associates, Inc., Claimant v. William Sullivan, Respondent ATTORNEYS: For Claimant David Lemer Associates, Inc. ("Claimant") appeared Joseph C. Pickard, Esq., in- house counsel, David Lerner Associates, Inc., Syosset, NY. Respondent William Sullivan ("Respondent") appeared pro se, Waterbury, CT. NATURE OF DISPUTE: Member v. Associated Person. DATE FILED: July 7, 2004.

NASD DISPUTE RESOLUTION AWARD NASD DISPUTE RESOLUTION CASE: 04-04883 David Lerner Associates, Claimant v. Joseph Tiriolo, Respondent ATTORNEYS: For Claimant David Lemer Associates ("Claimant") appeared Thomas J. Ruhle, Jr., Compliance Officer, David Lerner Associates, Syosset, NY. Respondent Joseph Tiriolo ("Respondent") appeared pro se, Milford, CT. NATURE OF DISPUTE: Member v. Associated Person. DATE FILED: July 7, 2004. CASE SUMMARY: Claimant

Award NASD Dispute Resolution In the Matter of the Arbitration Between: Frank Paddeau (Claimant) v. Janney Montgomery Scott, LLC and James Pascoe (Respondents) Case Number: 04-04881 Hearing Site: New York, New York Nature of the Dispute: Customer vs. Member and Associated Person. REPRESENTATION OF PARTIES Claimant Frank Paddeau ("Paddeau") hereinafter referred to as "Claimant": Matt Turtle, Riverside, CT. Respondents Janney Montgomery Scott, LLC ("J

Award NASD Dispute Resolution In the Matter of the Arbitration Between: Name of the Claimant Case Number: 04-04870 Damond Horowitz Name of the Respondent Hearing Site: Boca Raton, Florida Morgan Stanley DW, Inc. Nature of the Dispute: Customer vs. Member. REPRESENTATION OF PARTIES Damond Horowitz, hereinafter referred as "Claimant", appeared pro se. For Morgan Stanley DW, Inc., hereinafter referred to as "Respondent": Doreen Young, Esq., Morgan

Award NASD Dispute Resolution In the Matter of the Arbitration Between: Name of the Claimant Case Number: 04-04865 Sam D. Timpano Names of the Respondents Hearing Site: Orlando, Florida UBS Financial Services, Inc. Merrill Lynch Pierce Fenner & Smith Incorporated Nature of the Dispute; Associated Person vs. Member. REPRESENTATION OF PARTIES For Sam D. Timpano, hereinafter referred to as "Claimant": Marc S. Dobin, Esq., Dobin & Jenks, LLP, Ju

STIPULATED AWARD NASD Dispute Resolution In the Matter of the Arbitration Between: Name of Claimant The Estate of Charles DeVeau _ . and ' . . - Case Number: 04-04863 Names of Respondents Hearing Site: Houston, Texas Morgan Stanley DW, Inc. and Constance Carpeno Paddock. NATURE OF DISPUTE Customer v. Member and Associated Person REPRESENTATION OF PARTIES The Estate of Charles DeVeau ("Claimant") was represented by Donald M. Fefermaii, Es

AWARD NASD Dispute Resolution In the Matter of the Arbitration Between Claimant Walter B. Connolly, Jr. and Case Number: 04-04860 Hearing Site: Detroit, Michigan Respondents Merrill Lynch Pierce Fenner & Smith, Inc., and Craig E. Dyson NATURE OF DISPUTE Customer v. Member and Associated Person REPRESENTATION OF PARTIES Walter B.Connolly, Jr. ("Claimant") was represented by William J. Rogers, Esq., Connolly Rodgers & Scharman, PLL

AWARD NASD Dispute Resolution In the Matter of the Arbitration Between Narsingh D. Gupta Living Trust, by Dr. Narsingh Gupta, Trustee and 01-00203 Southfield, Michigan Advest, Inc., and Gordon E. Maynard REPRESENTATION OF PARTIES Claimant, Narsingh D. Gupta Living Trust, by Dr. Narsingh Gupta, Trustee ("Gupta") was represented by David M. Black, Esq., Sommers, Schwartz, Silver & Schwartz, Southfield, Michigan. Respondents Advest, Inc