NASD DISPUTE RESOLUTION AWARD NASD DISPUTE RESOLUTION. INC. CASE: 00-02925 Philip Walega, Claimant vs. Raymond James & Associates, Inc. Respondent. ATTORNEYS: Claimant, Philip Walega, ("Claimant"), appeared Pro Se., Shelby Township, MI. For Respondent, Raymond James & Associates, Inc., ("Respondent") appeared Deborah J. Howard, Esq., Associate Corporate Counsel, St. Petersburg, FL. DATE FILED: June 5, 2000 CASE SUMMARY: Claimant alleged that on Janu

NATIONAL ASSOCIATION OF SECURITIES DKALERS, INC Leon Schwartz Mendel & Etty Strul Helen K. Urban Helena Mitchell Lynde H. & Anthony T. Gaglia William C- Raney David Russell Gloriana V. Urban Claimants PriKi-^nr ia 1 Bache Hecor.i i. i '-.'^. Inc J'^art in Salzman Respondents Gl< 'l i.Bna Urban Third-Party H'^pf-cMKlent AWARD CONSOLIDATED CASES #88-02212; #88-02213 #88-02214; #88-02215 #88-02216; #88-02217 #8

NATIONAL ASSOCIATION OF SECURITIES DKALERS, INC Leon Schwartz Mendel & Etty Strul Helen K. Urban Helena Mitchell Lynde H. & Anthony T. Gaglia William C- Raney David Russell Gloriana V. Urban Claimants PriKi-^nr ia 1 Bache Hecoir.i l. i '-.'^. Inc J'^art in Salzman Respondents Gl< 'l i.Bna Urban Third-Party H'^pf-cMKlent AWARD CONSOLIDATED CASES #88-02212; #88-02213 #88-02214; #88-02215 #88-02216; #88-02217 #

95-05062 consolidated with AWARD NASD Regulation, Inc. Office of Dispute Resolution In the Matter of the Arbitration Between Name of Claimant RAF Financial Corporation and Name of Respondents/Counterclaimants Shen Chou and Chen Ping Shih Chang Amy H. Huang Kuei Chen Lin and Yu-Tsai Lin Namg^of Claimant Troy R. Peterson and Name of Respondent RAF Financial Corporation REPRESENTATION OF PARTIES RAF Financial Corporati

'' ',' N.A.S.D. AWARD NATIONAL ASSOCUTION OF SECUIUTIES DEALERS In the Matter of the Arbitration Between Name of Claimant Edward Lipson Name of Respondenti Smith Bamey Shearson, Inc. Scot Alexander Kagan 94-03029 © National Associaiion of Securities Deafers, Inc. A]f Rights Reserv ed Consolidated With In the Matter of the Arbitration Between Name of Claimant Ronald Lipson Name of Resiwndents Smith Barney Shearson, I

N.A.S.D. AWARD In tlie Jfettier of t±»e Arbitraticn Between Name of CTainiantia Gardner Financial Services, Inc., Larry Bumgardner Namp of Respondent Of f exnan & CcDpany In the ^tter of the Acbitration Between 89-02448 consolidatsd with 89-02784 89-02784 consolidated with 89-02448 Name of Clainant Offezman & Gcnpany, Inc. Namp of Respondents Gardner Financial Services, Inc. larzy Bumgardner For daimants Gardner Financi

Arbitration N.A.S.D. AS-IAPD lATICN OF SECURITIES DEAIfiBS In the Matter of the Arbitration Between Name of Claimants PaineWdsber, Inc. & Sheldon Qiaiken #89-02793 NaUonal Astociallon ot S«curltlet Deaiers, Inc. NASD Financial Center 33 Whitehall Stree': New York. New York 10004 Name of I^Sl Deirdre Ver^les #89-02633 Name of Claimant Sean Mesz)cat Name of Respondent Deirdre Venables For Claimants, PaineWebber, I

N.A.S.D. AWARD NftllONAL ASSOCIKnON OF SEXmETIES DER££RS In the Matter of the Arbitration Bet^^en Name of C!laimant(s) Robert J, and Barbara J. Mrozak Armen and Helen Markarian Consolidated 89-02920 and 89-02844 Stuart James Ccmpany; inc. Richard C. Whelan CASE SUMMARY In a Statement of Claim filed with the National Association of Securities Dealers, Inc. {"NASD") on or about October 16, 1989, Claimants Pctert J. and Barbara J. Mro

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NATIONAL ASSOCIATION OF SECURITIES DEALERS, INC. In the Matter ot the Arbitration Between ) > Elaine K. Thomas/ Anthony William Siadsk/ Milton R. Tarn Claimant /; vs Shearson Lehman Huttori/ Inc. Daniel Halligan Bruce Kramer AWARD CONSOLIDATED CASES NASD #89-00169 89-011.71 89-0i;.77 SllMMARV OF ISSUES Claimants each alleged that Respondents made fraudulent misrepresentations to them, breached their