____________________________________________________________________________________ National Association of Securities Dealers 9509 Key West Avenue Rockville, MD 20850 (800) 289-9999 October 14, 2005 NASD BROKERCHECK RESPONSE TO REQUEST FOR INFORMATION The Board of Governors of the National Association of Securities Dealers, Inc. (NASD) has adopted a public disclosure policy which permits certain types of disciplinary information on NASD member firms and their associated persons to be available to the general public. Section 15A(i) of the Securities Exchange Act of 1934, as amended, requires registered securities associations to respond to inquiries regarding disciplinary actions involving its members and their associated persons. NASD believes that the general public should have access to information which will help them in their determination whether to conduct or continue to conduct business with an NASD member or any of the member's associated persons. In that regard, enclosed please find the information that you have requested. A list of the terms and conditions of NASD BrokerCheck is as follows: NASD BrokerCheck Terms and Conditions 1. NASD collects, compiles, organizes, indexes, digitally converts and maintains regulatory information from registered persons, member firms, government agencies and other sources and maintains information in the proprietary Central Registration Depository ("CRD(r)") database and system. NASD releases such information through NASD BrokerCheck, which provides information from CRD system to the investing public. Your access to NASD BrokerCheck information provided through NASD's CRD database and system does not transfer any rights in CRD, NASD BrokerCheck or related technologies to you. 2. Your use of NASD BrokerCheck information is conditioned upon your acceptance, without modification, of all terms and conditions of this Agreement. Any information accessed, requested or provided through NASD BrokerCheck must be accessed, requested and used in accordance with the terms and conditions specified in this Agreement. NASD reserves any rights not expressly granted under these terms and conditions. Additionally, NASD reserves the right, at its sole discretion, to modify the terms and conditions for use of NASD BrokerCheck information at any time by changing this Agreement, and any changes are effective immediately. Such changes will be posted on the NASD BrokerCheck web site. 3. CRD and NASD BrokerCheck are proprietary databases and employ proprietary software, but NASD makes no exclusive proprietary claim to the information in the NASD BrokerCheck system that is not created by NASD. You are neither restricted nor prohibited by NASD from obtaining a copy of any original filing or information from a non-NASD source. 4. 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Provision of information by NASD pursuant to NASD BrokerCheck does not constitute a waiver of any of NASD's rights, privileges, or immunities with respect to the furnishing of disciplinary or registration information. 8. NASD does not charge for this service, which is offered pursuant to NASD's responsibilities as a self-regulatory organization, and, in particular, pursuant to Section 15A(i) of the Securities Exchange Act of 1934. In the provision of this service, NASD makes no warranties of any kind, and disclaims liability to any person for any actions taken or omitted in good faith with respect to this NASD BrokerCheck. NASD is not responsible for and cannot verify information from sources other than NASD, and does not warrant or guarantee the accuracy or completeness of the information requested. 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In certain limited circumstances, disclosure information may not be available through NASD BrokerCheck within the usual timeframe, but will be made available as soon as practicable. 10. Consistent with policies and procedures approved by the Securities and Exchange Commission (SEC), NASD will disclose information on individuals and brokerage firms, through NASD BrokerCheck, for two years after the termination of the individual's or brokerage firm's NASD registration. Disclosure information reported to NASD after an individual or brokerage firm has terminated may not have been reviewed by the brokerage firm or individual; in addition, brokerage firms and individuals who are no longer registered are not required to independently report such information. 11. NASD BrokerCheck includes only information provided to CRD. In substantially all cases, the information provided through NASD BrokerCheck represents the verbatim record as it was reported to NASD. However, in certain limited circumstances, NASD combined information about a single event that was reported by different sources (e.g., a record reporting information on an event that was submitted by a brokerage firm may contain information reported on the same event that was submitted by a regulator). This condition occurred when the data in the Legacy CRD system was converted (i.e., reformatted and transferred) to Web CRD, the Internet-based Central Registration Depository. This condition affects a small percentage of records reported to NASD prior to August 1999. These converted records contain information that was reported to NASD in accordance with appropriate reporting protocols applicable to the source filers (e.g., brokerage firms and regulators); however, because of the combination of information from different reporting sources, a record disclosed through NASD BrokerCheck may not reflect the actual filing submitted to NASD. 12. The "Individual Broker comments," "Brokerage Firm comments" and "Regulator comments" appear verbatim as they were provided to CRD via Forms U-4, U-5, and U-6. These comments were not written by NASD and have not been edited by NASD in any way. NASD reserves the right to redact customer names, confidential customer information, or offensive or potentially defamatory language from an NASD BrokerCheck Report consistent with policies and procedures approved by the SEC. TC 02.1 General Information About this Report This report has been generated because you have requested information about an NASD Member Firm through NASD BrokerCheck. The information contained within this report has been provided by NASD brokerage firm and securities regulators as part of the securities industry's registration and licensing process. An NASD BrokerCheck report for a Brokerage Firm consists of: 1) a Report Summary; 2) General Administrative Information, which includes the Types of Business the Brokerage Firm is engaged in, the Brokerage Firm's Legal Status, and the Brokerage Firm's Approved Registrations. The report also includes the Brokerage Firm's Disclosure Event information, if any. NASD BrokerCheck discloses the following information on brokerage firms: * the brokerage firm's name, CRD number, SEC identification number, "applicant name" or legal name, NASD district office which oversees the brokerage firm, and the brokerage firm's main and mailing addresses * the types of business in which the brokerage firm is currently engaged * details of the brokerage firm's legal status (i.e, corporation, partnership, etc.), state or country and date of formation, and its fiscal year end * all approved registrations * disclosure matters involving certain criminal charges and convictions, regulatory actions, civil judicial actions, and certain financial actions (e.g., bankruptcies, unsatisfied judgment/liens.) When evaluating this report, please keep in mind that a number of items may involve pending actions or allegations that may be contested and have not been resolved or proven. The items may, in the end, be withdrawn or dismissed, or resolved in favor of the brokerage firm, or concluded through a negotiated settlement with no admission or conclusion of wrongdoing. Also remember that the information in this report is not the only resource you should consult. It is recommended that you learn as much as possible about the brokerage firm from other sources. Ask for references. Ask family members or friends who already have established investment business relationships. Get in touch with local consumer and investors groups. Should you have any questions concerning information contained within this report, call (800) 289-9999 - a toll-free NASD BrokerCheck hot-line operated by NASD - or visit NASD Web Site at www.nasd.com. When calling or visiting the NASD Web Site, the information you will need includes the brokerage firm's name or CRD number. For definition of terms contained within this report or answers to Frequently Asked Questions, visit the Glossary or FAQs sections of NASD BrokerCheck at www.nasd.com. NASD BrokerCheck Report Printing Instructions The report contained below can be printed as is. However, unless the following steps are taken, the report may not print with the headers aligned or the text may run off the page. For the following report to be printed correctly, the following formatting steps must be completed: 1) Copy the text of the report into a text editor. 2) Delete these instructions down to and including the first dashed line. 3) Set the Font for the entire report to Courier, 8 point. 4) Set the left and right margins to 0. 5) Set the top and bottom margins to 0. Because every printer allows a different number of lines per page, the margins may have to be adjusted differently to get the headers to line up at the top of each page. The document is formatted to print 90 lines per page at the specified font. 6) Print the report. -------------------------------------------------------------------------------- NASD BrokerCheck October 14, 2005 Page 1 This information is current as of: 10/14/2005 ________________________________________________________________________________ NASD Member Firm: RAYMOND JAMES FINANCIAL SERVICES, INC. CRD Number: 6694 ******************************************************************************** REPORT SUMMARY ******************************************************************************** ************************************************************ Administrative Information: ************************************************************ Admin Information: Information that is required to be reported to NASD by brokerage firms via Form BD (Uniform Application for Broker-Dealer Registration). The administrative information contained in this report includes: (a) types of business the brokerage firm is engaged in; (b) legal status (e.g., corporation, partnership, sole proprietorship, limited liability company, etc.), state/country of formation unless legal status is sole proprietorship, date of formation, and month in which the brokerage firm's fiscal year ends; and (c) all approved registrations with the SEC, NASD and state securities commissions. Types of Business: 15 Legal Status: 1 Registrations: 54 ************************************************************ Disclosure Events: Yes ************************************************************ Disclosure Event: Information that is required to be reported to NASD by individual brokers via Form U-4 (Uniform Application for Securities Industry Registration or Transfer) and brokerage firms via Form BD (Uniform Application for Broker-Dealer Registration). Some disclosure events may have multiple reporting sources. For example, some information required to be reported by an individual broker via Form U-4 may also be reported on the individual broker's record by a brokerage firm via Form U-5 (Uniform Termination Notice for Securities Industry Registration) and/or by a regulator via Form U-6 (Uniform Disciplinary Action Reporting Form). If a disclosure event is reported by multiple sources, all versions of the reported event will be disclosed on the individual broker's NASD BrokerCheck report. Similarly, some information required to be reported by a brokerage firm via Form BD may also be reported on the brokerage firm's record via Form U-6. If a disclosure event is reported by multiple sources, all versions of the reported event will be disclosed on the brokerage firm's NASD BrokerCheck report. Criminal Actions: 0 Regulatory Actions: 16 Civil Judicial Actions: 0 Arbitrations: 71 Bonds: 0 Bankruptcies: 0 Judgment/Liens: 0 NASD BrokerCheck October 14, 2005 Page 2 This information is current as of: 10/14/2005 ________________________________________________________________________________ NASD Member Firm: RAYMOND JAMES FINANCIAL SERVICES, INC. CRD Number: 6694 ******************************************************************************** ADDRESS/GENERAL INFORMATION ******************************************************************************** This section provides the brokerage firm's name, CRD number, SEC number, Applicant Name on Form BD, NASD District where the brokerage firm is located, and the brokerage firm's main and mailing addresses. Applicant Name on Form BD: RAYMOND JAMES FINANCIAL SERVICES, INC. SEC Number: 8-017983 Prior Business Names: INVESTMENT MANAGEMENT & RESEARCH, INC Business Phone Number: 727-567-3020 Main Office Address Located in NASD District: Florida 880 CARILLON PARKWAY ST. PETERSBURG, FL 33716 Mailing Address 880 CARILLON PARKWAY ST. PETERSBURG, FL 33716 ******************************************************************************** TYPES OF BUSINESS ******************************************************************************** This section lists the type(s) of business that the brokerage firm is currently engaged in as reported on the Form BD. Broker or dealer selling corporate debt securities Broker or dealer retailing corporate equity securities over-the-counter Broker or dealer involved in a networking, kiosk or similar arrangement with a bank, savings bank or association, or credit union Government securities broker Investment advisory services Broker or dealer involved in a networking, kiosk or similar arrangement with an insurance company or agency Mutual fund retailer Municipal securities broker Non-exchange member arranging for transactions in listed securities by exchange member Broker or dealer selling securities of non-profit organizations (e.g., churches, hospitals) Private placements of securities Solicitor of time deposits in a financial institution Broker or dealer selling tax shelters or limited partnerships in primary distributions Underwriter or selling group participant (corporate securities other than mutual funds) Broker or dealer selling variable life insurance or annuities ******************************************************************************** LEGAL STATUS ******************************************************************************** This section details the brokerage firm's legal status (i.e, corporation, limited partnership, etc.), state or country where formed, date of formation, and the month the brokerage firm's fiscal year ends. Legal Status: CORPORATION State/Country of Formation: FL Date of Formation: 09/12/1973 Fiscal Year End: SEP ******************************************************************************** REGISTRATIONS ******************************************************************************** This section provides the jurisdictions in which the brokerage firm is registered or licensed to do business, the category of each registration, and the date on which the registration was granted. Jurisdiction/SRO Category Status As Of Date AK Broker Dealer Approved 12/08/1977 AL Broker Dealer Approved 10/23/1981 AR Broker Dealer Approved 09/20/1978 AZ Broker Dealer Approved 06/24/1977 CA Broker Dealer Approved 09/02/1977 CO Broker Dealer Approved 02/01/1983 CT Broker Dealer Approved 07/07/1978 DC Broker Dealer Approved 12/12/1979 NASD BrokerCheck October 14, 2005 Page 3 This information is current as of: 10/14/2005 ________________________________________________________________________________ NASD Member Firm: RAYMOND JAMES FINANCIAL SERVICES, INC. CRD Number: 6694 REGISTRATIONS(cont.) Jurisdiction/SRO Category Status As Of Date DE Broker Dealer Approved 10/06/1981 FL Broker Dealer Approved 04/27/1983 GA Broker Dealer Approved 09/21/1981 HI Broker Dealer Approved 06/25/1984 IA Broker Dealer Approved 07/14/1983 ID Broker Dealer Approved 01/01/1982 IL Broker Dealer Approved 03/05/1976 IN Broker Dealer Approved 10/20/1981 KS Broker Dealer Approved 08/11/1978 KY Broker Dealer Approved 07/16/1982 LA Broker Dealer Approved 04/20/1983 MA Broker Dealer Approved 07/31/1981 MD Broker Dealer Approved 10/03/1981 ME Broker Dealer Approved 02/22/1984 MI Broker Dealer Approved 02/02/1983 MN Broker Dealer Approved 07/15/1982 MO Broker Dealer Approved 07/18/1983 MS Broker Dealer Approved 10/14/1981 MT Broker Dealer Approved 04/20/1983 NASD Broker Dealer Approved 05/30/1974 NC Broker Dealer Approved 07/15/1982 ND Broker Dealer Approved 10/21/1981 NE Broker Dealer Approved 10/08/1981 NH Broker Dealer Approved 02/02/1983 NJ Broker Dealer Approved 07/13/1983 NM Broker Dealer Approved 07/21/1983 NV Broker Dealer Approved 07/15/1983 NY Broker Dealer Approved 04/26/1983 OH Broker Dealer Approved 07/16/1982 OK Broker Dealer Approved 07/17/1982 OR Broker Dealer Approved 09/21/1982 PA Broker Dealer Approved 07/16/1975 PR Broker Dealer Approved 01/16/1998 RI Broker Dealer Approved 02/01/1983 SC Broker Dealer Approved 10/28/1981 SD Broker Dealer Approved 07/15/1982 SEC Broker Dealer Approved 05/16/1974 TN Broker Dealer Approved 08/17/1981 TX Broker Dealer Approved 07/25/1983 UT Broker Dealer Approved 04/21/1983 VA Broker Dealer Approved 09/22/1981 VT Broker Dealer Approved 02/13/1984 WA Broker Dealer Approved 04/20/1983 WI Broker Dealer Approved 08/30/1976 WV Broker Dealer Approved 04/12/1982 WY Broker Dealer Approved 07/22/1983 NASD BrokerCheck October 14, 2005 Page 4 This information is current as of: 10/14/2005 ________________________________________________________________________________ NASD Member Firm: RAYMOND JAMES FINANCIAL SERVICES, INC. CRD Number: 6694 ******************************************************************************** REGULATORY ACTIONS ******************************************************************************** DISCLOSURE INFORMATION This section lists regulatory actions that were reported to CRD and are disclosable through NASD BrokerCheck. Disclosable regulatory actions include formal proceedings initiated by a regulatory authority (i.e., a state securities agency, NASD, New York Stock Exchange, foreign regulatory body, etc.) for a violation of investment-related rules or regulations. In addition, revocations or suspensions of an individual broker's authority to act as an attorney, accountant or federal contractor will appear here. Some of the fields in this section of the report may be blank if the information was not provided to CRD. ** OCCURRENCE COUNTS ** 16 Record(s) ******************************************************************************** ** FIELD DEFINITIONS ** * Reporting Source: The form through which details of the regulatory action was reported to CRD. * Date Reported: The date the regulatory action was reported to CRD. * Initiated By: The name of the securities regulator that initiated the regulatory action (e.g., regulator, foreign financial regulatory authority, self-regulatory organization, federal agency such as SEC, state, etc.). * Date Initiated: Date the regulatory action was initiated. * Docket/Case Number: Docket or case number of the regulatory action. * Employing Brokerage Firm: Brokerage Firm where individual broker was employed when activity occurred that led to the regulatory action. * Allegations: Allegations made against the individual broker leading to the regulatory action. * Current Status: The current status of the regulatory action (i.e., pending, on appeal or final). * Resolution: The resolution of the regulatory action (e.g., acceptance, waiver and consent; decision; decision and order of offer of settlement; order; settled; etc.). * Resolution Date: The date the regulatory action was resolved. * Sanction Details: Additional details regarding any sanctions ordered. * Summary: A summary of the details related to the regulatory action. ******************************************************************************** ******** REGULATORY ACTION (1 of 16) ******** Reporting Source: Brokerage Firm (Form BD) Date Reported: 02/18/2005 Initiated By: NATIONAL ASSOCIATION OF SECURITIES DEALERS, INC Date initiated: 02/15/2005 Docket/ Case Number: EAF040123 Allegations: RJFS AND RJA RECEIVED A WELLS LETTER REGARDING ALLEGED VIOLATIONS OF RULES 2110, 2210, 2310, AND 3010 FOR SELLING B OR C SHARES INSTEAD OF A SHARES. Current Status: Pending Summary: ******** REGULATORY ACTION (2 of 16) ******** NASD BrokerCheck October 14, 2005 Page 5 This information is current as of: 10/14/2005 ________________________________________________________________________________ NASD Member Firm: RAYMOND JAMES FINANCIAL SERVICES, INC. CRD Number: 6694 REGULATORY ACTIONS(cont.) Reporting Source: Regulator (Form U-6) Date Reported: 04/29/2005 Initiated By: NASD Date initiated: 04/26/2005 Docket/ Case Number: CE3050007 Allegations: NASD CONDUCT RULE 3010, 2110, 2210(D) RAYMOND JAMES FINANCIAL SERVICES, INC. CONTINUED TO UTILIZE EXISTING PROCEDURES FOR REVIEW OF ACCOUNT OPENING DOCUMENTS AND ACCOUNT TRANSACTIONS, AND DID NOT ESTABLISH AND MAINTAIN A SUPERVISORY SYSTEM, INCLUDING WRITTEN PROCEDURES, SPECIFICALLY DESIGNED TO REVIEW AND MONITOR THEIR FEE-BASED BUSINESS. THE FIRM NEVER CONDUCTED AN INITIAL OR PERIODIC SUPERVISORY REVIEW OF THEIR CUSTOMERS' FEE-BASED BROKERAGE ACCOUNTS TO DETERMINE WHETHER SUCH ACCOUNTS WERE APPROPRIATE FOR PARTICULAR CUSTOMERS. THE FIRM HAS NEVER MONITORED THEIR FEE-BASED BROKERAGE ACCOUNTS FOR INACTIVITY. IN ADDITION THE FORM FAILED TO PROVIDE THEIR BROKERS WITH ANY CRITERIA OR GUIDANCE TO DETERMINE WHETHER A FEE-BASED BROKERAGE ACCOUNT WAS APPROPRIATE FOR A CUSTOMER AND DID NOT REQUIRE THEIR BROKERS TO DETERMINE WHETHER CERTAIN ACCOUNTS WERE APPROPRIATE FOR A CUSTOMER BEFORE OPENING IT. RAYMOND JAMES DID NOT DIRECT THEIR BROKERS TO CONSIDER WHETHER THE FEE-BASED BROKERAGE ACCOUNT WAS APPROPRIATE FOR A PARTICULAR CUSTOMER IN LIGHT OF THE SERVICES PROVIDED, THE PROJECTED COST TO THE CUSTOMER, ALTERNATIVE FEE STRUCTURES THAT WERE AVAILABLE, AND THE CUSTOMER'S FEE STRUCTURE PREFERENCES. IN ADDITION, THE FIRM MARKETED ACCOUNTS THROUGH THE USE OF SALES LITERATURE THAT FAILED TO COMPLY WITH NASD'S ADVERTISING RULES. Current Status: Final Resolution: Acceptance, Waiver & Consent(AWC) Resolution Date: 04/26/2005 Sanctions Ordered: Monetary/Fine, Disgorgement/Restitution, Censure Monetary Amount: $750,000.00 Other Sanctions: UNDERTAKING Resolution Details: WITHOUT ADMITTING OR DENYING THE ALLEGATIONS RAYMOND JAMES FINANCIAL SERVICES, INC. CONSENTED TO THE DESCRIBED SANCTIONS AND TO THE ENTRY OF FINDINGS, THEREFORE THE FIRM IS CENSURED, FINED $750,000 AND ORDERED TO PAY $138,000, PLUS INTEREST, IN RESTITUTION TO PUBLIC CUSTOMERS. THE FIRM SHALL RETAIN AN INDEPENDENT CONSULTANT IF THE FIRM WISHES TO CONTINUE WITH FEE-BASED BUSINESS AFTER JULY 1, 2005. Summary: RESPONDENT FIRM HAS STATED THEIR INTENTION TO DISCONTINUE ALL OF THEIR FEE-BASED BROKERAGE BUSINESS BY JULY 1, 2005. *********************************** Reporting Source: Brokerage Firm (Form BD) Date Reported: 05/24/2005 Initiated By: NATIONAL ASSOCIATION OF SECURITIES DEALERS (NASD) Date initiated: 11/17/2004 Docket/ Case Number: CE3050007 Allegations: THE NASD ALLEGED THAT RJFS VIOLATED NASD CONDUCT RULES 3010 AND 2110 BY FAILING TO IMPLEMENT SUPERVISORY PROCEDURES SPECIFICALLY DESIGNED TO MONITOR FEE-BASED BROKERAGE ACCOUNTS TO DETERMINE WHETHER THEY WERE "APPROPRIATE" FOR CUSTOMERS. AS A RESULT, THE NASD ALLEGED THAT RJFS RECOMMENDED AND OPENED FEE-BASED BROKERAGE ACCOUNTS WITHOUT DETERMINING WHETHER THE ACCOUNTS WERE APPROPRIATE. THE NASD ALSO ALLEGED THAT RJFS MARKETED FEE-BASED BROKERAGE ACCOUNTS THROUGH THE USE OF SALES LITERATURE THAT FAILED TO COMPLY WITH NASD'S ADVERTISING RULES WHICH VIOLATED NASD CONDUCT RULES 2210(D) AND 2110. Current Status: Final NASD BrokerCheck October 14, 2005 Page 6 This information is current as of: 10/14/2005 ________________________________________________________________________________ NASD Member Firm: RAYMOND JAMES FINANCIAL SERVICES, INC. CRD Number: 6694 REGULATORY ACTIONS(cont.) Resolution: Acceptance, Waiver & Consent(AWC) Resolution Date: 04/26/2005 Sanctions Ordered: Monetary/Fine, Disgorgement/Restitution, Censure Monetary Amount: $750,000.00 Other Sanctions: UNDERTAKING Resolution Details: SANCTIONS: $750,000 - RJFS RESPONSIBLE FOR $525,900. RESTITUTION: $138,000 - RJFS RESPONSIBLE FOR $110,707.35 + INTERST OF $6,165.30 Summary: ******** REGULATORY ACTION (3 of 16) ******** Reporting Source: Regulator (Form U-6) Date Reported: 12/16/2004 Initiated By: NASD Date initiated: 11/24/2004 Docket/ Case Number: C8A040107 Allegations: NASD RULES 2110, 3010 - RESPONDENT MEMBER ACTING THROUGH AN EMPLOYEE IMPROPERLY FORMED AND MAINTAINED A PARTNERSHIP IN A SECURITIES ACCOUNT AT THE FIRM WITH A PUBLIC CUSTOMER BY FAILING TO MEMORIALIZE THE PARTNERSHIP AGREEMENT IN WRITING; FAILING TO HAVE A SPECIFIC AGREEMENT OR UNDERSTANDING AS TO THE CAPITAL CONTRIBUTIONS TO BE MADE BY THE PARTNERS, HOW AND WHEN CAPITAL CONTRIBUTIONS WOULD BE WITHDRAWN, AND HOW PROFIT AND LOSSES WERE TO BE SHARED; FAILING TO PROVIDE THE CUSTOMER WITH COMPLETE PERIODIC STATEMENTS AS TO THE COMPLETE COST TO THE PARTNERSHIP OF EACH SECURITIES TRANSACTIONS; FAILED TO ENFORCE A SUPERVISORY SYSTEM AND WRITTEN SUPERVISORY PROCEDURES REASONABLY DESIGNED TO ACHIEVE COMPLIANCE WITH APPLICABLE SECURITIES LAWS AND REGULATIONS, AND WITH APPLICABLE RULES OF NASD. Current Status: Final Resolution: Acceptance, Waiver & Consent(AWC) Resolution Date: 11/24/2004 Sanctions Ordered: Monetary/Fine, Censure Monetary Amount: $10,000.00 Resolution Details: WITHOUT ADMITTING OR DENYING THE ALLEGATIONS, RAYMOND JAMES FINANCIAL SERVICES, INC., CONSENTED TO THE DESCRIBED SANCTIONS AND TO THE ENTRY OF FINDINGS, THEREFORE THE FIRM IS CENSURED AND FINED $10,000. Summary: *********************************** Reporting Source: Brokerage Firm (Form BD) Date Reported: 12/15/2004 Initiated By: NATIONAL ASSOCIATION OF SECURITIES DEALERS (NASD) Date initiated: 11/24/2004 Docket/ Case Number: C8A040107 Allegations: THE NASD FOUND THAT MICHAEL P. MONSON, A FORMER RJFS FINANCIAL ADVISOR, IMPROPERLY FORMED AND MAINTAINED A PARTNERSHIP IN A SECURITIES ACCOUNT WITH A CUSTOMER IN VIOLATION OF NASD CONDUCT RULE 2110. IN ADDITION, THE NASD FOUND THAT RJFS FAILED TO ENFORCE A SUPERVISORY SYSTEM OR WRITTEN SUPERVISORY PROCEDURES REGARDING MONSON?S INVOLVEMENT IN THE PARTNERSHIP, IN VIOLATION OF NASD CONDUCT RULES 2110 AND 3010. NASD BrokerCheck October 14, 2005 Page 7 This information is current as of: 10/14/2005 ________________________________________________________________________________ NASD Member Firm: RAYMOND JAMES FINANCIAL SERVICES, INC. CRD Number: 6694 REGULATORY ACTIONS(cont.) Current Status: Final Resolution: Other Resolution Date: 11/24/2004 Sanctions Ordered: Monetary/Fine, Censure Monetary Amount: $10,000.00 Resolution Details: FINE: $10,000, PAID ON 12/13/04. Summary: ******** REGULATORY ACTION (4 of 16) ******** Reporting Source: Regulator (Form U-6) Date Reported: 11/01/2004 Initiated By: NASD Date initiated: 10/15/2004 Docket/ Case Number: C07040085 Allegations: MSRB RULES G-14 AND G-27 - RAYMOND JAMES FINANCIAL SERVICES, INC. FAILED TO ACCURATELY REPORT 3,740 (48%) OF 7,812 MUNICIPAL TRANSACTIONS REPORTED DURING THE PERIOD OF OCTOBER 1, 2002 THROUGH DECEMBER 31, 2002 IN THAT IT IMPROPERLY DESIGNATED THE RAYMOND JAMES & ASSOCIATES AS BOTH THE BUYER AND SELLER ON MUNICIPAL BOND TRANSACTIONS WHERE RAYMOND JAMES FINANCIAL SERVICES, INC. WAS A PARTY TO THE TRANSACTIONS. THE FIRM FURTHER FAILED TO ADOPT, MAINTAIN AND ENFORCE SUPERVISORY PROCEDURES REASONABLY DESIGNED TO ENSURE COMPLIANCE WITH MSRB RULES RELATING TO TRADE REPORTING IN THAT IT FAILED, AMONG OTHER THINGS, TO PROPERLY TEST MUNICIPAL TRADE REPORTS FOR ACCURACY. Current Status: Final Resolution: Acceptance, Waiver & Consent(AWC) Resolution Date: 10/15/2004 Sanctions Ordered: Monetary/Fine, Censure Monetary Amount: $12,500.00 Resolution Details: WITHOUT ADMITTING OR DENYING THE ALLEGATIONS, RAYMOND JAMES FINANCIAL SERVICES, INC CONSENTED TO THE DESCRIBED SANCTIONS AND TO THE ENTRY OF FINDINGS; THEREFORE, THE FIRM IS CENSURED AND FINED $12,500. Summary: *********************************** Reporting Source: Brokerage Firm (Form BD) Date Reported: 11/19/2004 Initiated By: NATIONAL ASSOCIATION OF SECURITIES DEALERS, INC. Date initiated: 08/20/2004 Docket/ Case Number: C07040085 Allegations: NASD ALLEGES THAT BETWEEN OCTOBER 1, 2002 AND DECEMBER 31, 2002, RESPONDENT FAILED TO ACCURATELY REPORT 3,740 OF 7,812 MUNICIPAL PRINCIPAL TRANSACTIONS. THE INACCURACY WAS THE RESULT OF A TECHNICAL ERROR THAT INCORRECTLY CODED OUR AFFILIATE, RAYMOND JAMES & ASSOCIATES INSTEAD OF RAYMOND JAMES FINANCIAL SERVICES AS THE PARTY TO THE TRANSACTION. Current Status: Final Resolution: Acceptance, Waiver & Consent(AWC) NASD BrokerCheck October 14, 2005 Page 8 This information is current as of: 10/14/2005 ________________________________________________________________________________ NASD Member Firm: RAYMOND JAMES FINANCIAL SERVICES, INC. CRD Number: 6694 REGULATORY ACTIONS(cont.) Resolution Date: 10/15/2004 Sanctions Ordered: Monetary/Fine, Censure Monetary Amount: $12,500.00 Other Sanctions: N/A Resolution Details: FINED $12,500. Summary: THE RESPONDENT, WITHOUT ADMITTING OR DENYING THE ALLEGATIONS, AGREED TO AN ACCEPTANCE, WAIVER AND CONSENT AND A MONETARY FINE OF $12,500 FOR FAILURE TO ACCURATELY REPORT CERTAIN MUNICIPAL BOND TRANSACTIONS FOR A PERIOD OF OCTOBER 1, 2002 TO DECEMBER 31, 2002. ******** REGULATORY ACTION (5 of 16) ******** Reporting Source: Brokerage Firm (Form BD) Date Reported: 07/23/2004 Initiated By: NATIONAL ASSOCIATION OF SECURITIES DEALERS Date initiated: 07/16/2004 Docket/ Case Number: E8A020451 Allegations: THE NASD HAS ALLEGED THAT THE FIRM FAILED TO ADEQUATELY ENFORCE A SUPERVISORY SYSTEM AND WRITTEN SUPERVISORY PROCEDURES AS IT APPLIES TO NASD CONDUCT RULES 2110 AND 3010 (A) AND (B). THE ALLEGEATIONS STEM FROM THE ACTION OF A FORMER FINANCIAL ADVISOR OF THE MEMBER FIRM WHO FAILED TO FOLLOW THE FIRM'S WRITTEN SUPERVISORY PROCEDURES AS IT RELATED TO DISCLOSING OUTSIDE BUSINESS ACTIVITIES AND MAINTAINING AN ACCOUNT WITH A FIRM CUSTOMER. Current Status: Pending Summary: THE FIRM IS CURRENTLY REVIEWING THE PROPOSED AWC AND WILL RESPOND TO THE NASD ON OR BEFORE THE AUGUST 2, 2004 DEADLINE. ******** REGULATORY ACTION (6 of 16) ******** Reporting Source: Regulator (Form U-6) Date Reported: 12/01/2004 Initiated By: NASD Date initiated: 11/30/2004 Docket/ Case Number: CAF040095 Allegations: ARTICLE V, SECTIONS 2(C) AND 3(B) OF NASD'S BY-LAWS, AND NASD RULES 2110, 3010 AND 3070 - RAYMOND JAMES FINANCIAL SERVICES, INC. ("RESPONDENT FIRM") FILED 350 LATE AMENDMENTS TO FORMS U4 AND U5, WHICH REPRESENTED APPROXIMATELY 60% OF THE REQUIRED AMENDMENTS RELATING TO REPORTABLE CUSTOMER COMPLAINTS, TERMINATIONS, REGULATORY ACTIONS, AND CRIMINAL DISCLOSURES. IN ADDITION, THE RESPONDENT FIRM FAILED TO FILE 13 FORMS U4/U5 AND FAILED TO REPORT APPROXIMATELY 200 REPORTABLE EVENTS PURSUANT TO NASD RULE 3070. DURING THE RELEVANT PERIOD, THE RESPONDENT FIRM'S SUPERVISORY SYSTEM AND PROCEDURES WERE NOT REASONABLY DESIGNED TO ACHIEVE COMPLIANCE WITH ITS ARTICLE V REPORTING OBLIGATIONS. Current Status: Final Resolution: Acceptance, Waiver & Consent(AWC) Resolution Date: 11/30/2004 Sanctions Ordered: Monetary/Fine, Censure Monetary Amount: $400,000.00 NASD BrokerCheck October 14, 2005 Page 9 This information is current as of: 10/14/2005 ________________________________________________________________________________ NASD Member Firm: RAYMOND JAMES FINANCIAL SERVICES, INC. CRD Number: 6694 REGULATORY ACTIONS(cont.) Other Sanctions: UNDERTAKINGS Resolution Details: WITHOUT ADMITTING OR DENYING THE ALLEGATIONS, RESPONDENT FIRM CONSENTED TO THE DESCRIBED SANCTIONS AND TO THE ENTRY OF FINDINGS, THEREFORE, IT IS CENSURED AND FINED $400,000, WHICH SHALL BE PAID WITHIN 10 DAYS OF NOTICE OF ACCEPTANCE OF THIS AWC. IN ADDITION RESPONDENT FIRM SHALL COMPLY WITH THE FOLLOWING UNDERTAKINGS: (1) PROMPTLY FOLLOWING NOTICE OF ACCEPTANCE OF THIS AWC, THE FIRM'S INTERNAL AUDIT DEPARTMENT OR PERSONNEL NOT DIRECTLY RESPONSIBLE FOR THE FIRM'S ARTICLE V REPORTING OBLIGATIONS AND THEIR IMMEDIATE SUPERVISORS SHALL CONDUCT AN AUDIT TO ASSESS THE EFFECTIVENESS OF ITS SYSTEM AND PROCEDURES FOR ENSURING TIMELY FILING OF FORM U4 AND U5 AMENDMENTS SUMMARIZING FINDINGS AND RECOMMENDATIONS AND SHALL FOR THE NEXT FOUR CALENDAR QUARTERS BEGINNING FOURTH QUARTER 2004, CONDUCT A SIMILAR AUDIT AND PREPARE A SIMILAR WRITTEN AUDIT REPORT. (2) NO LATER THAN 90 DAYS AFTER NOTICE OF ACCEPTANCE OF THIS AWC, AN OFFICER OF THE FIRM SHALL CERTIFY IN WRITING TO NASD THAT AN AUDIT WAS CONDUCTED AND THE OFFICER HAS REVIEWED THE CURRENT AUDIT REPORT. (3) NO LATER THAN 60 DAYS AFTER THE DATE OF THE CURRENT AUDIT REPORT, AN OFFICER SHALL CERTIFY IN WRITING TO NASD THAT THE FIRM HAS IMPLEMENTED, OR HAS BEGUN TO IMPLEMENT, ANY RECOMMENDATIONS WITHIN A SPECIFIED TIME PERIOD. (4) NO LATER THAN 60 DAYS AFTER THE LAST DAY OF THE NEXT FOUR QUARTERS, AN OFFICER SHALL CERTIFY IN WRITING TO NASD THAT AN AUDIT WAS CONDUCTED, THE CURRENT AUDIT REPORT WAS REVIEWED, AND RECOMMENDATIONS IMPLEMENTED, OR BEGUN TO BE IMPLEMENTED. (5) NO LATER THAN SIX MONTHS AFTER NOTICE OF ACCEPTANCE OF THIS AWC, AN OFFICER SHALL CERTIFY IN WRITING TO NASD THAT THE FIRM HAS REVIEWED ITS SYSTEM AND PROCEDURES FOR COMPLYING WITH ITS ARTICLE V REPORTING OBLIGATIONS AND HAS ESTABLISHED A SYSTEM AND PROCEDURES REASONABLY DESIGNED TO ACHIEVE COMPLIANCE WITH REPORTING REQUIREMENTS SET FORTH THEREIN. Summary: *********************************** Reporting Source: Brokerage Firm (Form BD) Date Reported: 05/24/2005 Initiated By: NATIONAL ASSOCIATION OF SECURITIES DEALERS, INC. Date initiated: 06/25/2004 Docket/ Case Number: CAF040095 Allegations: ON JUNE 25, 2004, THE NASD ADVISED THAT IT HAS MADE A PRELIMINARY DETERMINATION TO RECOMMEND THAT DISCIPLINARY ACTION BE BROUGHT AGAINST RJFS IN CONNECTION WITH NUMEROUS LATE FILINGS OR AMENDMENTS OF FORM U-4S AND U-5S. THE APPLICABLE TIME PERIOD IS JANUARY 1, 2002 THROUGH MARCH 5, 2004. Current Status: Final Resolution: Acceptance, Waiver & Consent(AWC) Resolution Date: 11/30/2004 Sanctions Ordered: Monetary/Fine, Censure Monetary Amount: $400,000.00 Other Sanctions: UNDERTAKINGS Resolution Details: FINE: $400,000.00; PAID: 12/6/04. Summary: ******** REGULATORY ACTION (7 of 16) ******** Reporting Source: Regulator (Form U-6) Date Reported: 09/16/2005 Initiated By: UNITED STATES SECURITIES AND EXCHANGE COMMISSION Date initiated: 09/30/2004 NASD BrokerCheck October 14, 2005 Page 10 This information is current as of: 10/14/2005 ________________________________________________________________________________ NASD Member Firm: RAYMOND JAMES FINANCIAL SERVICES, INC. CRD Number: 6694 REGULATORY ACTIONS(cont.) Docket/ Case Number: 3-11692 Allegations: SEC ADMINISTRATIVE PROCEEDING RELEASE NO. 33-8499, SECURITIES EXCHANGE ACT 34-50476, INVESTMENT ADVISERS ACT 40-2309, DATED SEPTEMBER 30, 2004; THE SECURITES AND EXCHANGE COMMISSION COMPLAINT ALLEGES THAT RAYMOND JAMES COMMITTED FRAUD BASED ON THE FRAUDULENT ACTS ONE OF ITS REGISTERED REPRESENTATIVES, AND ALSO CHARGES RAYMOND JAMES FAILING REASONABLY TO SUPERVISE. THE DIVISION ALLEGES THAT IN HIS CAPACITY AS A RAYMOND JAMES REGISTERED REPRESENTATIVE DURING 1999 AND 2000 AND AS PART OF A FRAUDULENT SCHEME, AN EMPLOYEE MADE NUMEROUS FALSE REPRESENTATIONS TO SOLICIT INVESTORS, WHO DEPOSITED APPROXIMATELY $44.5 MILLION IN A BROKERAGE. THE DIVISION ALSO ALLEGES THAT RAYMOND JAMES COMMITTED DIRECT VIOLATIONS OF THE ANTIFRAUD PROVISIONS OF THE FEDERAL SECURITIES LAWS BASED ON ITS EMPLOEE ACTIVITIES, AND CHARGES RAYMOND JAMES WITH FAILING REASONABLY TO SUPERVISE BY FAILING TO ESTABLISH PROCEDURES OR SYSTEMS TO IMPLEMENT EXISTING PROCEDURES CONCERNING THE SUPERVISION OF REGISTERED REPRESENTATIVES WHO WORKED AWAY FROM THE OFFICE, HEIGHTENED SUPERVISION OF REGISTERED REPRESENTATIVES, MONITORING OR AUDITING OPERATING ACCOUNTS OF BRANCH OFFICES, AND INVESTIGATION OF FUND TRANSFERS. THE DIVISION ALLEGES THAT AS A RESULT OF FIRM EMPLOYEE'S FRAUDULENT CONDUCT, RAYMOND JAMES VIOLATED SECTION 17(A) OF THE SECURITIES ACT AND SECTION 10(B) OF THE EXCHANGE ACT AND RULE 10B-5 THEREUNDER. THE DIVISION ALSO ALLEGES THAT RAYMOND JAMES FAILED REASONABLY TO SUPERVISE AN EMPLOYEE, A PERSON SUBJECT TO THEIR SUPERVISION, WITH A VIEW TO PREVENTING OR DETECTING VIOLATIONS OF SECTION 17(A) OF THE SECURITIES ACT AND SECTION 10(B) OF THE EXCHANGE ACT AND RULE 10B-5 THEREUNDER. ACCORDING TO THE ORDER, RAYMOND JAMES ALSO VIOLATED SECTION 17(A) OF THE EXCHANGE ACT AND RULE 17A-4 THEREUNDER BY FAILING TO PRESERVE FOR THREE YEARS, THE FIRST TWO YEARS IN AN ACCESSIBLE PLACE, ELECTRONIC MAIL COMMUNICATIONS, AND BY FAILING TO PROMPTLY FURNISH CERTAIN ELECTRONIC MAIL COMMUNICATIONS TO THE COMMISSION. Current Status: Pending Summary: *********************************** Reporting Source: Brokerage Firm (Form BD) Date Reported: 11/19/2004 Initiated By: SECURITIES AND EXCHANGE COMMISSION Date initiated: 04/24/2003 Docket/ Case Number: 03-11692 Allegations: THE SEC FILED AN ADMINISTRATIVE PROCEEDING CONCERNING THE EVNTS SURROUNDING THE HERULA MATTERS. AFTER A FOUR YEAR INVESTIGATION, THE SEC HAS DEEMED IT APPROPRIATE AND IN THE PUBLIC INTEREST THAT PUBLIC ADMINISTRATIVE AND CEASE-AND-DESIST PROCEEDINGS BE INSTITUTED AGAINST RJFS, STEVE PUTNAM AND DAVID ULLOM. THE SEC CLAIMS THAT RJFS VIOLATED SECTION 17(A) OF THE SECURITIES ACT AND SECTION 10(B) OF THE EXCHANGE ACT AND RULE 10B-5 THEREUNDER. RJFS, PUTNAM AND ULLOM ARE ALSO BEING CHARGED AS HAVING FAILED TO SUPERVISE HERULA, AND FAILED TO PREVENT OR DETECT HERULA'S OWN SECURITIES AND EXCHANGE VIOLATIONS. FURTHER, THE SEC IS CHARGING THAT RJFS VIOLATED THE EXCHANGE ACT BY FAILING TO PRESERVE FOR THREE YEARS, THE FIRST TWO YEARS IN AN ACCESSIBLE PLACE, ELECTRONIC MAIL COMMUNICATIONS Current Status: Pending Summary: ******** REGULATORY ACTION (8 of 16) ******** Reporting Source: Regulator (Form U-6) Date Reported: 02/25/2004 Initiated By: NASD Date initiated: 02/12/2004 NASD BrokerCheck October 14, 2005 Page 11 This information is current as of: 10/14/2005 ________________________________________________________________________________ NASD Member Firm: RAYMOND JAMES FINANCIAL SERVICES, INC. CRD Number: 6694 REGULATORY ACTIONS(cont.) Docket/ Case Number: CAF040006 Allegations: NASD RULE 2110 - RESPONDENT MEMBER SOLD SHARES ISSUED BY MUTUAL FUNDS WITHOUT PROVIDING CERTAIN CUSTOMERS WITH BREAKPOINT DISCOUNTS DESCRIBED IN THE PROSPECTUSES OF THE FUNDS; FAILED TO GIVE ITS CUSTOMERS BREAKPOINT DISCOUNTS IN 31.78% OF ELIGIBLE MUTUAL FUND TRANSACTIONS IN 2001 AND 2002 THAT RESULTED IN MISSED BREAKPOINTS THAT WOULD HAVE REDUCED CUSTOMERS' CHARGES BY AT LEAST $2.5 MILLION ON THEIR PURCHASES OF MUTUAL FUND SHARES WITH FRONT-END LOADS DURING THE RELEVANT PERIOD. Current Status: Final Resolution: Acceptance, Waiver & Consent(AWC) Resolution Date: 02/12/2004 Sanctions Ordered: Monetary/Fine, Censure Monetary Amount: $1,297,564.50 Other Sanctions: UNDERTAKINGS. Resolution Details: WITHOUT ADMITTING OR DENYING THE ALLEGATIONS, RESPONDENT FIRM CONSENTED TO THE DESCRIBED SANCTIONS AND TO THE ENTRY OF FINDINGS; THEREFORE, THE FIRM IS CENSURED, FINED $2,595,129, OF WHICH ONE HALF SHALL BE PAID TO NASD AND ONE HALF SHALL BE PAID TO THE U.S. TREASURY PURSUANT TO RELATED SEC PROCEEDINGS BEING INSTITUTED AGAINST RESPONDENT ON THIS DATE, AND REQUIRED TO PROVIDE WRITTEN NOTIFICATION TO EACH CUSTOMER WHO PURCHASED FRONT-END LOAD MUTUAL FUNDS THROUGH THE FIRM FROM JANUARY 1, 1999 THROUGH NOVEMBER 3, 2003 THAT THE FIRM EXPERIENCED A PROBLEM DELIVERING BREAKPOINT DISCOUNTS AND THAT AS A RESULT, THE CUSTOMER MAY BE ENTITLED TO A REFUND; PERFORM A TRADE-BY-TRADE ANALYSIS OF ALL FRONT-END LOAD MUTUAL FUND PURCHASES OF $2,500 OR MORE AND ALL OVERCHARGES IDENTIFIED REFUNDED BY MARCH 31, 2004; PROVIDE REFUNDS TO ALL CUSTOMERS WHO DID NOT RECEIVE ALL APPLICABLE BREAKPOINT DISCOUNTS AS DESCRIBED IN NTM 03-47; PROVIDE NASD A REPORT ON RESPONDENT'S REFUND PROGRAM BY 4/16/04; AND NOT LATER THAN SIX MONTHS AFTER THE DATE OF THIS ORDER, RESPONDENT'S CHIEF EXECUTIVE OFFICER SHALL CERTIFY IN WRITING TO NASD THAT RESPONDENT HAS IMPLEMENTED PROCEDURES AND A SYSTEM FOR APPLYING SUCH PROCEDURES THAT CAN REASONABLY BE EXPECTED TO PREVENT AND DETECT FAILURES TO PROVIDE BREAKPOINT DISCOUNTS FOR WHICH CUSTOMERS ARE ELIGIBLE ON PURCHASES OF FRONT-END LOAD MUTUAL FUNDS. Summary: *********************************** Reporting Source: Brokerage Firm (Form BD) Date Reported: 03/30/2004 Initiated By: NATIONAL ASSOCIATION OF SECURITIES DEALERS Date initiated: 11/04/2003 Docket/ Case Number: CAF 040006 Allegations: DURING 2001 AND 2002, RESPONDENT SOLD SHARES ISSUED BY MUTUAL FUNDS WITHOUT PROVIDING CERTAIN CUSTOMERS WITH THE REDUCTION IN THE FRONT-END LOADS, OR SALES CHARGES, ALSO KNOWN AS "BREAKPOINT" DISCOUNTS, DESCRIBED IN THE PROSPECTUSES OF THE FUNDS. Current Status: Final Resolution: Acceptance, Waiver & Consent(AWC) Resolution Date: 02/05/2004 Sanctions Ordered: Monetary/Fine, Censure Monetary Amount: $1,297,564.50 Other Sanctions: UNDERTAKING Resolution Details: FINED $1,297,564.50; PAID 2/20/2004 NASD BrokerCheck October 14, 2005 Page 12 This information is current as of: 10/14/2005 ________________________________________________________________________________ NASD Member Firm: RAYMOND JAMES FINANCIAL SERVICES, INC. CRD Number: 6694 REGULATORY ACTIONS(cont.) Summary: WITHOUT ADMITTING OR DENYING THE ALLEGATIONS, RESPONDENT FIRM CONSENTED TO THE DESCRIBED SANCTIONS AND TO THE ENTRY OF FINDINGS; THEREFORE, THE FIRM IS CENSURED, FINED $2,595,129, AND REQUIRED TO PROVIDE WRITTEN NOTIFICATION TO EACH CUSTOMER WHO PURCHASED FRONT-END LOAD MUTUAL FUNDS THROUGH THE FIRM FROM JANUARY 1, 1999 THROUGH NOVEMBER 3, 2003 THAT THE FIRM EXPERIENCED A PROBLEM DELIVERING BREAKPOINT DISCOUNTS AND THAT AS A RESULT, THE CUSTOMER MAY BE ENTITLED TO A REFUND; PERFORM A TRADE-BY-TRADE ANALYSIS OF ALL FRONT-END LOAD MUTUAL FUND PURCHASES OF $2,500 OR MORE AND ALL OVERCHARGES IDENTIFIED REFUNDED BY MARCH 31, 2004; PROVIDE REFUNDS TO ALL CUSTOMERS WHO DID NOT RECEIVE ALL APPLICABLE BREAKPOINT DISCOUNTS AS DESCRIBED IN NTM 03-47; PROVIDE NASD A REPORT ON RESPONDENT'S REFUND PROGRAM BY 4/16/04; AND NOT LATER THAN SIX MONTHS AFTER THE DATE OF THIS ORDER, RESPONDENT'S CHIEF EXECUTIVE OFFICER SHALL CERTIFY IN WRITING TO NASD THAT RESPONDENT HAS IMPLEMENTED PROCEDURES AND A SYSTEM FOR APPLYING SUCH PROCEDURES THAT CAN REASONABLY BE EXPECTED TO PREVENT AND DETECT FAILURES TO PROVIDE BREAKPOINT DISCOUNTS FOR WHICH CUSTOMERS ARE ELIGIBLE ON PURCHASES OF FRONT-END LOAD MUTUAL FUNDS. ******** REGULATORY ACTION (9 of 16) ******** Reporting Source: Regulator (Form U-6) Date Reported: 02/23/2004 Initiated By: UNITED STATES SECURITIES AND EXCHANGE COMMISSION Date initiated: 02/12/2004 Docket/ Case Number: SEC ADMIN FILE NO. 3-11404/REL 33-8374 Allegations: SEC ADMIN PROCEEDING FILE NO. 3-11404, RELS 33-8374, 34-49234, DATED FEBRUARY 12, 2004 - THE SECURITIES AND EXCHANGE COMMISSION ("COMMISSION") DEEMS IT APPROPRIATE AND IN THE PUBLIC INTEREST THAT PUBLIC ADMINISTRATIVE AND CEASE-AND-DESIST PROCEEDINGS BE, AND HEREBY ARE, INSTITUTED PURSUANT TO SECTION 8A OF THE SECURITIES ACT OF 1933 ("SECURITIES ACT") AND SECTION 15(B)(4) OF THE SECURITIES EXCHANGE ACT OF 1934 ("EXCHANGE ACT") AGAINST RAYMOND JAMES FINANCIAL SERVICES, INC. ("RESPONDENT"). IN ANTICIPATION OF THE INSTITUTION OF THESE PROCEEDINGS, RESPONDENT HAS SUBMITTED AN OFFER OF SETTLEMENT (THE "OFFER") WHICH THE COMMISSION HAS DETERMINED TO ACCEPT. Current Status: Final Resolution: Order Resolution Date: 02/12/2004 Sanctions Ordered: Monetary/Fine, Disgorgement/Restitution, Censure, Cease and Desist/Injunction Monetary Amount: $1,297,564.00 Resolution Details: IT IS HEREBY ORDERED: PURSUANT TO SECTION 15(B)(4) OF THE EXCHANGE ACT, THAT RESPONDENT IS CENSURED; PURSUANT TO SECTION 8A OF THE SECURITIES ACT, THAT RESPONDENT SHALL CEASE AND DESIST FROM COMMITTING OR CAUSING ANY VIOLATIONS AND ANY FUTURE VIOLATIONS OF SECTION 17(A)(2) OF THE SECURITIES ACT; WITHIN 10 DAYS OF THE ENTRY OF THIS ORDER, RESPONDENT SHALL PAY A CIVIL MONEY PENALTY IN THE AMOUNT OF $1,297,564 TO THE UNITED STATES TREASURY. RESPONDENT SHALL PAY DISGORGEMENT AND PREJUDGMENT INTEREST, WHICH OBLIGATION SHALL BE SATISFIED BY COMPLIANCE WITH THE CUSTOMER REFUND PROGRAM SUMMARIZED IN THE ORDER, AND MORE FULLY SET FORTH IN NASD'S RELATED ORDER; AND NOT LATER THAN 6 MONTHS AFTER THE DATE OF THIS ORDER, UNLESS OTHERWISE EXTENDED BY THE STAFF OF THE COMMISSION FOR GOOD CAUSE SHOWN, RESPONDENT'S CHIEF EXECUTIVE OFFICER SHALL CERTIFY IN WRITING TO THE STAFF OF THE COMMISSION THAT RESPONDENT HAS IMPLEMENTED PROCEDURES, AND A SYSTEM FOR APPLYING SUCH PROCEDURES, THAT CAN REASONABLY BE EXPECTED TO PREVENT AND DETECT FAILURES BY RESPONDENT TO PROVIDE APPROPRIATE BREAKPOINT DISCOUNTS FOR WHICH CUSTOMERS ARE ELIGIBLE ON PURCHASES OF FRONT-END LOAD MUTUAL FUNDS, BASED ON INFORMATION REASONABLY ASCERTAINABLE BY RESPONDENT. Summary: DURING 2001 AND 2002 (THE "RELEVANT PERIOD"), RESPONDENT SOLD SHARES ISSUED BY MUTUAL FUNDS WITHOUT PROVIDING CERTAIN NASD BrokerCheck October 14, 2005 Page 13 This information is current as of: 10/14/2005 ________________________________________________________________________________ NASD Member Firm: RAYMOND JAMES FINANCIAL SERVICES, INC. CRD Number: 6694 REGULATORY ACTIONS(cont.) CUSTOMERS WITH THE REDUCTIONS IN FRONT-END LOADS, OR SALES CHARGES, ALSO KNOWN AS "BREAKPOINT" DISCOUNTS, DESCRIBED IN THE PROSPECTUSES OF THE FUNDS. ACCORDING TO DATA SUBMITTED TO NASD BY RESPONDENT, RESPONDENT IS ESTIMATED TO HAVE FAILED TO GIVE CERTAIN CUSTOMERS BREAKPOINT DISCOUNTS TOTALING APPROXIMATELY $2,595,129 DURING THE RELEVANT PERIOD. BY FAILING TO DISCLOSE TO CERTAIN CUSTOMERS THAT THEY WERE NOT RECEIVING THE BENEFIT OF APPLICABLE BREAKPOINT DISCOUNTS, RESPONDENT VIOLATED SECTION 17(A)(2) OF THE SECURITIES ACT. *********************************** Reporting Source: Brokerage Firm (Form BD) Date Reported: 05/24/2005 Initiated By: SECURITIES AND EXCHANGE COMMISSION Date initiated: 11/05/2003 Docket/ Case Number: 3-11404 Allegations: DURING 2001 AND 2002, RESPONDEANT SOLD SHARES ISSUED BY MUTUAL FUNDS WITHOUT PROVIDING CERTAIN CUSTOMERS WITH THE REDUCTION IN THE FRONT-END LOADS, OR SALES CHARGES, ALSO KNOWN AS "BREAKPOINT" DISCOUNTS, DESCRIBED IN THE PROSPECTUSES OF THE FUNDS. Current Status: Final Resolution: Decision & Order of Offer of Settlement Resolution Date: 02/12/2004 Sanctions Ordered: Monetary/Fine, Disgorgement/Restitution, Censure, Cease and Desist/Injunction Monetary Amount: $1,297,564.00 Other Sanctions: UNDERTAKING Resolution Details: FINED $1,297,564.00; PAID 2/20/2004 Summary: WITHOUT ADMITTING OR DENYING THE ALLEGATIONS, RESPONDENT FIRM CONSENTED TO THE DESCRIBED SANCTIONS AND TO THE ENTRY OF FINDINGS; THEREFORE, THE FIRM IS CENSURED, FINED $2,595,129, AND REQUIRED TO PROVIDE WRITTEN NOTIFICATION TO EACH CUSTOMER WHO PURCHASED FRONT-END LOAD MUTUAL FUNDS THROUGH THE FIRM FROM JANUARY 1, 1999 THROUGH NOVEMBER 3, 2003 THAT THE FIRM EXPERIENCED A PROBLEM DELIVERING BREAKPOINT DISCOUNTS AND THAT AS A RESULT, THE CUSTOMER MAY BE ENTITLED TO A REFUND; PERFORM A TRADE-BY-TRADE ANALYSIS OF ALL FRONT-END LOAD MUTUAL FUND PURCHASES OF $2,500 OR MORE AND ALL OVERCHARGES IDENTIFIED REFUNDED BY MARCH 31, 2004; PROVIDE REFUNDS TO ALL CUSTOMERS WHO DID NOT RECEIVE ALL APPLICABLE BREAKPOINT DISCOUNTS AS DESCRIBED IN NTM 03-47; PROVIDE NASD A REPORT ON RESPONDENT'S REFUND PROGRAM BY 4/16/04; AND NOT LATER THAN SIX MONTHS AFTER THE DATE OF THIS ORDER, RESPONDENT'S CHIEF EXECUTIVE OFFICER SHALL CERTIFY IN WRITING TO NASD THAT RESPONDENT HAS IMPLEMENTED PROCEDURES AND A SYSTEM FOR APPLYING SUCH PROCEDURES THAT CAN REASONABLY BE EXPECTED TO PREVENT AND DETECT FAILURES TO PROVIDE BREAKPOINT DISCOUNTS FOR WHICH CUSTOMERS ARE ELIGIBLE ON PURCHASES OF FRONT-END LOAD MUTUAL FUNDS. ******* REGULATORY ACTION (10 of 16) ******* Reporting Source: Regulator (Form U-6) Date Reported: 08/26/2002 Initiated By: NATIONAL ASSOCIATION OF SECURITIES DEALERS, INC. Date initiated: 08/26/2002 Docket/ Case Number: C07020068 Allegations: NASD RULES 2110, 3070 - WITHOUT ADMITTING OR DENYING THE ALLEGATIONS, THE RESPONDENT MEMBER CONSENTED TO THE ENTRY OF FINDINGS THAT IT FAILED TO REPORT STATISTICAL AND SUMMARY INFORMATION CONCERNING CUSTOMER COMPLAINTS IT RECEIVED. NASD BrokerCheck October 14, 2005 Page 14 This information is current as of: 10/14/2005 ________________________________________________________________________________ NASD Member Firm: RAYMOND JAMES FINANCIAL SERVICES, INC. CRD Number: 6694 REGULATORY ACTIONS(cont.) Current Status: Final Resolution: Acceptance, Waiver & Consent(AWC) Resolution Date: 08/26/2002 Sanctions Ordered: Monetary/Fine, Censure Monetary Amount: $10,000.00 Resolution Details: CENSURED AND FINED $10,000 Summary: *********************************** Reporting Source: Brokerage Firm (Form BD) Date Reported: 09/20/2002 Initiated By: NATIONAL ASSOCIATION OF SECURITIES DEALERS, INC. Date initiated: 08/26/2002 Docket/ Case Number: C07020068 Allegations: NASD RULES 2110, 3070 - WITHOUT ADMITTING OR DENYING THE ALLEGATIONS, THE RESPONDENT MEMBER CONSENTED TO THE ENTRY OF FINDINGS THAT IT FAILED TO REPORT STATISTICAL AND SUMMARY INFORMATION CONCERNING CUSTOMER COMPLAINTS IT RECEIVED. Current Status: Final Resolution: Acceptance, Waiver & Consent(AWC) Resolution Date: 08/26/2002 Sanctions Ordered: Monetary/Fine, Censure Monetary Amount: $10,000.00 Resolution Details: CENSURE & FINE $10,000. PAID AUGUST 26, 2002 Summary: CENSURED AND FINED $10,000. ******* REGULATORY ACTION (11 of 16) ******* Reporting Source: Regulator (Form U-6) Date Reported: 08/12/2002 Initiated By: MARYLAND DIVISION OF SECURITIES Date initiated: 07/31/2002 Docket/ Case Number: 2000-0549 Allegations: FAILURE TO REASONABLY SUPERVISE FORMER REPRESENTATIVE ROUBEN M. HALIMA WITH RESPECT TO BROKERAGE ACCOUNT OF A SPECIFIC CUSTOMER. Current Status: Final Resolution: Stipulation and Consent Resolution Date: 07/31/2002 Sanctions Ordered: Monetary/Fine, Censure Monetary Amount: $7,000.00 Resolution Details: RESPONDENT SHALL CONTINUE TO MAINTAIN AND SHALL ENFORCE POLICIES DESIGNED TO SUPERVISE REPRESENTATIVES AND TO HIRE REPRESENTATIVES WITH REPUTABLE BACKGROUNDS Summary: THE DIVISION ALLEGED THAT RESPONDENT'S REPRESENTATIVE NASD BrokerCheck October 14, 2005 Page 15 This information is current as of: 10/14/2005 ________________________________________________________________________________ NASD Member Firm: RAYMOND JAMES FINANCIAL SERVICES, INC. CRD Number: 6694 REGULATORY ACTIONS(cont.) EXCESSIVELY TRADED A CUSTOMER'S ACCOUNT, EARNING COMMISSIONS IN EXCESS OF $80,000 OVER AN APPROXIMATE 2-YEAR PERIOD. *********************************** Reporting Source: Brokerage Firm (Form BD) Date Reported: 08/27/2002 Initiated By: STATE OF MARYLAND Date initiated: 07/11/2000 Docket/ Case Number: 2000-0549 Allegations: INVESTIGATION INTO SUPERVISORY ACTIVITIES OVER FORMER REGISTERED REPRESENTATIVE. Current Status: Final Resolution: Consent Resolution Date: 07/24/2002 Sanctions Ordered: Monetary/Fine, Censure Monetary Amount: $7,000.00 Resolution Details: $7,000. PAID 7/24/02 Summary: ******* REGULATORY ACTION (12 of 16) ******* Reporting Source: Brokerage Firm (Form BD) Date Reported: 09/30/2003 Initiated By: STATE OF IOWA Date initiated: 08/14/2001 Docket/ Case Number: 01DOCOID0121 Allegations: STATE ALLEGES UNREGISTERED INDIVIDUAL OFFERED SECURITIES TO CLIENTS AT A RJFS BRANCH. Current Status: Final Resolution: Dismissed Resolution Date: 01/24/2002 Sanctions Ordered: Resolution Details: Summary: ******* REGULATORY ACTION (13 of 16) ******* Reporting Source: Brokerage Firm (Form BD) Date Reported: Initiated By: STATE OF NORTH DAKOTA Date initiated: 12/31/1996 Docket/ Case Number: Allegations: THE STATE OF NORTH DAKOTA ALLEGED THAT FIRM OFFERED INVESTMENTS IN ROYAL CROWN CORP. BONDS TO RESIDENTS OF ND WHILE INVESTMENTS WERE NOT REGISTERED OR EXEMPT UNDER ND LAW. NASD BrokerCheck October 14, 2005 Page 16 This information is current as of: 10/14/2005 ________________________________________________________________________________ NASD Member Firm: RAYMOND JAMES FINANCIAL SERVICES, INC. CRD Number: 6694 REGULATORY ACTIONS(cont.) Current Status: Final Resolution: Order Resolution Date: 06/12/1997 Sanctions Ordered: Monetary/Fine Monetary Amount: $2,000.00 Resolution Details: $2,000. FINE PAID TO STATE OF NORTH DAKOTA RECEIPT ISSUED ON 7/15/97. Summary: CONSENT ORDER FROM STATE OF NORTH DAKOTA AND $2,000. FINE. ******* REGULATORY ACTION (14 of 16) ******* Reporting Source: Regulator (Form U-6) Date Reported: 06/23/1998 Initiated By: VIRGINIA - STATE CORPORATION COMMISSION DIVISION OF SECURITIES Date initiated: 06/23/1998 Docket/ Case Number: SEC980038 Allegations: INVESTMENT MANAGEMENT & RESEARCH, INC., IN VIOLATION OF SECTION 13.1-504C OF THE CODE OF VIRGINIA, EMPLOYED FREDERICK SCOTT VALPEY AS AN UNREGISTERED INVESTMENT ADVISOR REPRESENTATIVE. Current Status: Final Resolution: Decision Resolution Date: 06/23/1998 Sanctions Ordered: Monetary/Fine Monetary Amount: $1,000.00 Resolution Details: THE FIRM WAS ASSESSED A PENALTY IN THE AMOUNT OF $1,000 AND WAS CHARGED FOR COSTS OF INVESTIGATION IN THE AMOUNT OF $85.00. Summary: CONTACT: SEAN A. ABBOTT, INVESTMENT ADVISOR EXAMINER, 804-371-9528. *********************************** Reporting Source: Brokerage Firm (Form BD) Date Reported: Initiated By: COMMONWEALTH OF VIRGINIA, DIV. OF SECURITIES Date initiated: 06/23/1998 Docket/ Case Number: SEC 980038 Allegations: THAT AN INVESTMENT ADVISOR REPRESENTATIVE WAS NOT LICENSED IN THE STATE OF VIRGINIA Current Status: Final Resolution: Settled Resolution Date: 06/23/1998 Sanctions Ordered: Monetary/Fine Monetary Amount: $1,000.00 Other Sanctions: REIMBURSE COSTS - $85.00 Resolution Details: FULL AMOUNT, $1,085.OO PAID TO COMMONWEALTH ON JUNE 23, 1998. NASD BrokerCheck October 14, 2005 Page 17 This information is current as of: 10/14/2005 ________________________________________________________________________________ NASD Member Firm: RAYMOND JAMES FINANCIAL SERVICES, INC. CRD Number: 6694 REGULATORY ACTIONS(cont.) Summary: WITHOUT ADMITTING OR DENYING THE ALLEGATIONS, INVESTMENT MANAGEMENT & RESARCH, INC. (NOW RAYMOND JAMES FINANCIAL SERVICES, INC.) PAID $1,000. FINE PLUS $85. TO REIMBURSE THE COMMISSION FOR THE COST OF INVESTIGATION. ******* REGULATORY ACTION (15 of 16) ******* Reporting Source: Regulator (Form U-6) Date Reported: 07/05/2000 Initiated By: NATIONAL ASSOCIATION OF SECURITIES DEALERS, INC. Date initiated: 12/21/1994 Docket/ Case Number: C3B940028 Allegations: ALLEGING VIOLATIONS OF ARTICLE III, SECTIONS 1, 2, AND 27 OFTHE RULES OF FAIR PRACTICE THAT KRULL RECOMMENDED PURCHASE AND REDEMPTION OF MUTUAL FUND SHARES IN 10ACCOUNTS OF EIGHT PUBLIC CUSTOMERS WITHOUT REASONABLEGROUNDS THAT TRANSACTIONS WERE SUITABLE FOR CUSTOMERS IN VIEW OF ITS FREQUENCY, INVESTMENT BE REDEEMED OR PURCHASED AND CUSTOMERS' FINANCIAL SITUATIONS,CIRCUMSTANCES, AND NEEDS; AND IN CONNECTION WITH ABOVE-REFERENCED ACTIVITY, MEMBER ACTING THROUGH GREENE AND DIGIROLAMO, FAILED TO ENSURE KRULL'S SALES ACTIVITIES WERE ADEQUATELY REVIEWED AND MONITORED TO ENSURE SALES ACTIVITIES WERE NOT IN CONTRAVENTION OF NASD'S RULES OF FAIR PRACTICE. Current Status: Final Resolution: Decision Resolution Date: 11/24/1997 Sanctions Ordered: Monetary/Fine, Disgorgement/Restitution, Censure, Suspension Monetary Amount: $10,000.00 Resolution Details: FINED,CENSURED AND SUSPENDED. Summary: [TOP]COMPLAINT NO. C3B940028 FILED12/ 21/ 94 BY DISTRICT NO.3 AGAINST INVESTMENT MANAGEMENT & RESEARCH, MILTON ANTHONYGREENE, KENNETH CRAIG KRULL AND MICHAEL JOHN DIGIROLAMOALLEGING VIOLATIONS OF ARTICLE III, SECTIONS 1, 2, AND 27 OFTHE RULES OF FAIR PRACTICE THAT KRULL RECOMMENDED PURCHASE AND REDEMPTION OF MUTUAL FUND SHARES IN 10ACCOUNTS OF EIGHT PUBLIC CUSTOMERS WITHOUT REASONABLEGROUNDS THAT TRANSACTIONS WERE SUITABLE FOR CUSTOMERS IN VIEW OF ITS FREQUENCY, INVESTMENT BE REDEEMED OR PURCHASED AND CUSTOMERS' FINANCIAL SITUATIONS,CIRCUMSTANCES, AND NEEDS; AND IN CONNECTION WITH ABOVE-REFERENCED ACTIVITY, MEMBER ACTING THROUGH GREENE AND DIGIROLAMO, FAILED TO ENSURE KRULL'S SALES ACTIVITIES WERE ADEQUATELY REVIEWED AND MONITORED TO ENSURE SALES ACTIVITIES WERE NOT IN CONTRAVENTION OF NASD'S RULES OF FAIR PRACTICE; AND FAILEDTO HAVE IN PLACE ADEQUATE WRITTEN OR UNWRITTEN SUPERVISORYPROCEDURES AND/OR SYSTEMS GOVERNING REVIEW AND ENDORSEMENTBY REGISERED PRINCIPAL IN WRITING ON AN INTERNAL RECORD ALLTRANSACTIONS PERTAINING TOTHE SOLICITATION AND EXECUTION OF ANY SECURITIES TRANSACTIONS,INCLUDING PROCEDURES DESIGNED TO PREVENT AND DETECT SWITCHING AND SHORT TERM TRADING OF MUTUAL FUNDS BY REGISTERED PERSONSINCLUDING ITS OSJ GENERAL PRINCIPALS. DECISION RENDERED 2/ 8/ 96 WHEREIN RESPONDENT IS CENSURED ANDFINED $10,000; KRULL IS CENSURED, FINED $50,000,SUSPENDED FROM ASSOCIATION WITH ANY NASD MEMBER IN ANY CAPACITYFOR 90 DAYS, BARRED FROM ASSOCIATION WITH NASD MEMBER IN PRINCIPAL CAPACITY, REQUIRED TO REQUALIFY BYEXAMINATION ANDRESPONDENTS AND KRULL ASSESSED HEARING COSTS FOR $4,922.50, JOINTLY AND SEVERALLY. DECISION SERVE AS LETTER THAT EVIDENCE IN RECORD DID NOT SUPPORT FINDING THAT RESPONDENTS WERE RESPONSIBLE FOR SUPERVISORY FAILURES. NO FURTHER ACTION, DECISION 8/ 25/ 97. 8/ 25/ 97 - DECISION FINAL$14,922.50 FULLY PAID AS OF 11/24/97, INVOICE #97-3B-798 *********************************** Reporting Source: Brokerage Firm (Form BD) Date Reported: Initiated By: NASDR Date initiated: 12/21/1994 NASD BrokerCheck October 14, 2005 Page 18 This information is current as of: 10/14/2005 ________________________________________________________________________________ NASD Member Firm: RAYMOND JAMES FINANCIAL SERVICES, INC. CRD Number: 6694 REGULATORY ACTIONS(cont.) Docket/ Case Number: C3B940028 Allegations: DBCC ALLEGED VIOLATIONS OF ARTICLE III,SECTIONS 1 & 27 OF THE NASD RULES OF FAIR PRACTICE THAT INVESTMENT MANAGEMENT & RESEARCH, INC. (NOW RAYMOND JAMES FINANCIAL SERVICES, INC.) FAILED TO ENSURE A REGISTERED REPRESENTATIVE'S ACTIVITIES WERE ADEQUATELY REVIEWED AND MONITORED AND FAILED TO HAVE ADEQUARE SUPERVISORY PROCEDURES GOVERNING THE REVIEW AND ENDORSEMENT OF TRANSACTIONS OF ITS REGISTERED REPRESENTATIVES. Current Status: Final Resolution: Decision Resolution Date: 07/25/1997 Sanctions Ordered: Monetary/Fine, Disgorgement/Restitution, Censure Monetary Amount: $10,000.00 Resolution Details: $10,000. FINE PAID BY INVESTMENT MANAGEMENT & RESEARCH, INC. (NOW RAYMOND JAMES FINANCIAL SERVICES, INC.) TO NASD ON 09/16/97. $42,785.21 IN COMMISSIONS PAID BY INVESTMENT MANAGEMENT & RESEARCH, INC. (NOW RAYMOND JAMES FINANCIAL SERVICES, INC.) TO CUSTOMERS ON 09/16/97. Summary: THE NATIONAL BUSINESS CONDUCT COMMITTEE FOUND THAT IM&R'S SUPERVISORY PROCEDURES WERE NOT REASONABLY DESIGNED TO DETECT MUTUAL FUND SWITCHING IN AN INDIVIDUAL BRANCH OFFICE. THE FIRM WAS CENSURED, FINED, AND ORDERED TO REPAY COMMISSIONS. ******* REGULATORY ACTION (16 of 16) ******* Reporting Source: Regulator (Form U-6) Date Reported: 11/22/1994 Initiated By: MASSACHUSETTS SECURITIES DIVISION Date initiated: 01/28/1994 Docket/ Case Number: 92-007-E Allegations: IN THE ADMINISTRATIVE COMPLAINT DATED JANUARY 28, 1994, THE MASSACHUSETTS SECURITIES DIVISION (MSD) ALLEGED THAT CYPRESS EQUIPMENT FUND, RAYMOND JAMES & ASSOCIATES, INVESTMENT MANAGEMENT & RESEARCH, ROBERT THOMAS SECURITIES, WILLIAM HAAS AND STEPHEN COOK SOLD UNREGISTERED NON-EXEMPT SECURITIES OF THE FUND IN VIOLATION OF M.G.L. c.110A SECTION 301. THE MSD ALSO ALLEGED THAT RESPONDENTS VIOLATED M.G.L. c.110A SECTION 101 BY FAILING TO DISCLOSE THE SECURITIES' LACK OF REGISTRATION, THAT RESPONDENTS ENGAGED IN DISHONEST AND UNETHICAL PRACTICES, AND THAT RJA, IM&R AND ROBERT THOMAS FAILED TO REASONABLY SUPERVISE THEIR AGENTS. Current Status: Final Resolution: Consent Resolution Date: 11/22/1994 Sanctions Ordered: Monetary/Fine, Disgorgement/Restitution Monetary Amount: $5,000.00 Resolution Details: ON NOVEMBER 22, 1994 RESPONDENTS ENTERED INTO A CONSENT ORDER WITHOUT ADMITTING OR DENYING FINDINGS OF FACTS OR CONCLUSIONS OF LAW. RESPONDENT UNDERTOOK THE FOLLOWING: THAT THEY DISCLOSED ALL OFFER AND SALES OF THE FUND IN THE COMMONWEALTH; THAT THE FUND, RJA, IM&R AND ROBERT THOMAS DISCLOSED ALL DISCIPLINARY ACTIONS AGAINST THEM REQUIRED TO BE DISCLOSED; RJA, IM&R, AND ROBERT THOMAS WILL REVISE THEIR COMPLAINCE MANUALS TO REQUIRE AGENTS WHO TRANSACT BUSINESS IN SECURITIES IN THE COMMONWELATH TO COMPLY WITH THE ACT; THE FUND WILL OFFER RESCISSION TO ALL MASSACHUSETTS INVESTORS IN THE FUND; THE FUND, RJA, IM&R AND ROBERT THOMAS WILL IMPLEMENT AND MAINTAIN PROCEDURES DESIGNED TO ENSURE COMPLIANCE WITH THE ACT; THE FUND, RJA, IM&R AND ROBERT THOMAS WILL COMPLY WITH NASD BrokerCheck October 14, 2005 Page 19 This information is current as of: 10/14/2005 ________________________________________________________________________________ NASD Member Firm: RAYMOND JAMES FINANCIAL SERVICES, INC. CRD Number: 6694 REGULATORY ACTIONS(cont.) ALL PROVISION OF THE ACT. THE ORDER IMPOSED SANCTIONS OF A $5,000 FINE EACH UPON BY THE FUND, RJA, IM&R AND ROBERT THOMAS; DISGORGEMENT OF COMMISSIONS BY THE FUND, RJA, IM&R AND ROBERT THOMAS; AND A BAR UPON THE FUND FROM UTILIZING EXEMPTION SECTION 402 (b)(9) FOR FIVE YEARS. NO SANCTIONS WERE IMPOSED UPON HAAS OR COOK. Summary: Not Provided *********************************** Reporting Source: Brokerage Firm (Form BD) Date Reported: Initiated By: COMMONWEALTH OF MA, ENFORCEMENT SECTION OF THE SECURITIES DIV. Date initiated: 01/28/1994 Docket/ Case Number: 92-007-E Allegations: COMPLIANT ALLEGED THAT RESPONDENTS SOLD SECURITIES OF CYPRESS EQUIPMENT FUND NOT REGISTERED OR EXEMPT FROM REGISTRATION WITHIN THE COMMONWEALTH IN VIOLATION OF M.G.L.301 AFTER WITHDRAWING THE SECURITIES FROM THE REGISTRATION PROCESS. Current Status: Final Resolution: Settled Resolution Date: 11/24/1994 Sanctions Ordered: Monetary/Fine Monetary Amount: $5,000.00 Resolution Details: EACH BROKER/DEALER PAID A FINE OF $5,000 TO THE COMMONWEALTH AND DISGORGED ALL COMMISSIONS OBTAINED AS THE RESULT OF THE SALE. Summary: WITHOUT ADMITTING OR DENYING LIABILITY, AGREED TO OFFER A RESCISSION TO THE THREE CUSTOMERS. NASD BrokerCheck October 14, 2005 Page 20 This information is current as of: 10/14/2005 ________________________________________________________________________________ NASD Member Firm: RAYMOND JAMES FINANCIAL SERVICES, INC. CRD Number: 6694 ******************************************************************************** BROKERAGE FIRM ARBITRATIONS ******************************************************************************** DISCLOSURE INFORMATION This section contains summary information regarding arbitration awards rendered in a forum administered by NASD that involve securities or commodities disputes between NASD member firms and public customers. Some of the fields in this section of the report may be blank if the information was not provided to CRD. Unlike the arbitration information required to be reported by individual brokers via Form U-4, brokerage firm arbitration information is not required to be reported on Form BD and is therefore disclosed through NASD BrokerCheck via a slightly different mechanism. Summary information regarding NASD arbitration awards involving securities and commodity disputes between public customers and NASD member firms is updated and disclosed on brokerage firm NASD BrokerCheck reports generally within 10-15 days after the arbitration award is signed and served to all parties. The full text of arbitration awards issued by arbitrators at NASD and at other forums is available online as a cooperative arrangement between NASD Dispute Resolution and the Securities Arbitration Commentator (SAC) at www.nasdadr.com. The awards are generally available within one month after the arbitration award is signed and served to all parties. To access the arbitration award information it is suggested that you first view the summary information available via NASD BrokerCheck, and then use the case number included in NASD BrokerCheck report to access the full text of the award at www.nasdadr.com. ** OCCURRENCE COUNTS ** 71 Record(s) ******************************************************************************** ** FIELD DEFINITIONS ** * Type of Event: Type of disclosure event (e.g., arbitration) that details pertain to. * Update: An indication (i.e., yes or no) as to whether the information is an update to earlier information reported about the arbitration proceeding. * Arbitration Forum: Forum that administered the arbitration proceeding. * Case Served Date: Date case was served on respondent(s). * Case Number: Case number assigned to the arbitration proceeding. * Allegations: Allegations made by the customer(s) which lead to the arbitration proceeding. * Type of Securities: Type of securities allegations relate to. * Relief Asked: Alleged dollar amount of compensatory damages sought by the customer(s). * Disposition: Disposition of the arbitration proceeding. * Disposition Date: Date of disposition. * Relief Awarded: Details related to the relief awarded to the parties involved in the arbitration proceeding. ******************************************************************************** *** BROKERAGE FIRM ARBITRATION (1 of 71) *** Type of Event: ARBITRATION Update: YES Arbitration Forum: NASD Case Served Date: 06/09/2004 Case Number: 04-03717 Allegations: Fraudulent Activity-Brch of Fiduciary Dt; Fraudulent Activity-Misrepresentation; Fraudulent Activity - Omission of Facts; Fraudulent Activity-Suitability Type of Securities: Mutual Funds Relief Asked: Actual/Compensatory Damages, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY; Attorney's Fees, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY; Other costs, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY; Punitive/Exemplary Damages, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY; Interest, NASD BrokerCheck October 14, 2005 Page 21 This information is current as of: 10/14/2005 ________________________________________________________________________________ NASD Member Firm: RAYMOND JAMES FINANCIAL SERVICES, INC. CRD Number: 6694 BROKERAGE FIRM ARBITRATIONS(cont.) ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY Disposition: AWARD AGAINST PARTY Disposition Date: 09/30/2005 Relief Awarded: Actual/Compensatory Damages, Relief has been awarded (partial or full, Award Amount $40,000.00; Attorney's Fees, Relief Request has been denied in full; Other costs, Relief Request has been denied in full; Punitive/Exemplary Damages, Relief has been awarded (partial or full, Award Amount $150,000.00; Interest, Relief Request has been denied in full 7c. Relief Asked: Other Monetary Relief, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY; Other Non-Monetary Relief, ASKED AMOUNT JOINTLY AND SEVERALLY 8a. Current Status: AWARD AGAINST PARTY 8b. Status Date: 09/30/2005 8c. Relief Awarded: Other Monetary Relief, Relief has been awarded (partial or full, Award Amount $50,000.00; Other Non-Monetary Relief, Relief has been awarded (partial or full, Award Amount *** BROKERAGE FIRM ARBITRATION (2 of 71) *** Type of Event: ARBITRATION Update: YES Arbitration Forum: NASD Case Served Date: 02/02/2004 Case Number: 04-00511 Allegations: Account Related-Breach of Contract; Account Related-Other; Account Related-Other; Fraudulent Activity-Suitability Type of Securities: Annuities;Mutual Funds Relief Asked: Actual/Compensatory Damages, ASKED AMOUNT $200,962.00 JOINTLY AND SEVERALLY; Punitive/Exemplary Damages, ASKED AMOUNT $401,924.00 JOINTLY AND SEVERALLY; Other costs, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY; Attorney's Fees, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY; Other Monetary Relief, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY Disposition: AWARD AGAINST PARTY Disposition Date: 09/27/2005 Relief Awarded: Actual/Compensatory Damages, Relief has been awarded (partial or full, Award Amount $151,070.00; Punitive/Exemplary Damages, Relief has been awarded (partial or full, Award Amount $302,140.00; Other costs, Relief has been awarded (partial or full, Award Amount $14,000.00; Attorney's Fees, Relief has been awarded (partial or full, Award Amount $32,207.56; Other Monetary Relief, Relief Request has been denied in full 7c. Relief Asked: Interest, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY 8a. Current Status: AWARD AGAINST PARTY 8b. Status Date: 09/27/2005 8c. Relief Awarded: Interest, Relief has been awarded (partial or full, Award Amount $0.01 *** BROKERAGE FIRM ARBITRATION (3 of 71) *** Type of Event: ARBITRATION Update: YES Arbitration Forum: NASD Case Served Date: 12/03/2003 Case Number: 03-07711 Allegations: Fraudulent Activity-Suitability; Account Related-Negligence; Fraudulent Activity-Brch of Fiduciary Dt; Account Related - Failure to Supervise Type of Securities: Unknown type of securities NASD BrokerCheck October 14, 2005 Page 22 This information is current as of: 10/14/2005 ________________________________________________________________________________ NASD Member Firm: RAYMOND JAMES FINANCIAL SERVICES, INC. CRD Number: 6694 BROKERAGE FIRM ARBITRATIONS(cont.) Relief Asked: Actual/Compensatory Damages, ASKED AMOUNT $525,000.00 JOINTLY AND SEVERALLY; Interest, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY; Attorney's Fees, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY; Other costs, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY; Other Monetary Relief, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY Disposition: AWARD AGAINST PARTY Disposition Date: 09/09/2005 Relief Awarded: Actual/Compensatory Damages, Relief has been awarded (partial or full, Award Amount $315,691.00; Interest, Relief Request has been denied in full; Attorney's Fees, Relief has been awarded (partial or full, Award Amount $30,270.75; Other costs, Relief has been awarded (partial or full, Award Amount $7,967.61; Other Monetary Relief, Relief has been awarded (partial or full, Award Amount $14,056.00 *** BROKERAGE FIRM ARBITRATION (4 of 71) *** Type of Event: ARBITRATION Update: YES Arbitration Forum: NASD Case Served Date: 09/02/2004 Case Number: 04-06221 Allegations: Fraudulent Activity-Misrepresentation; Account Related - Failure to Supervise; Account Related-Negligence; Fraudulent Activity-Brch of Fiduciary Dt Type of Securities: Unknown type of securities Relief Asked: Actual/Compensatory Damages, ASKED AMOUNT $0.00 SEVERALLY ; Punitive/Exemplary Damages, ASKED AMOUNT $0.00 SEVERALLY ; Interest, ASKED AMOUNT $0.00 SEVERALLY ; Attorney's Fees, ASKED AMOUNT $0.00 SEVERALLY ; Other costs, ASKED AMOUNT $0.00 SEVERALLY ; Other Monetary Relief, ASKED AMOUNT $0.00 SEVERALLY Disposition: NO AWARD AGAINST PARTY Disposition Date: 09/07/2005 Relief Awarded: Actual/Compensatory Damages, Relief Request has been denied in full; Punitive/Exemplary Damages, Relief Request has been denied in full; Interest, Relief Request has been denied in full; Attorney's Fees, Relief Request has been denied in full; Other costs, Relief Request has been denied in full; Other Monetary Relief, Relief Request has been denied in full *** BROKERAGE FIRM ARBITRATION (5 of 71) *** Type of Event: ARBITRATION Update: YES Arbitration Forum: NASD Case Served Date: 07/16/2003 Case Number: 03-05109 Allegations: Fraudulent Activity-Misrepresentation; Fraudulent Activity - Omission of Facts; Fraudulent Activity-Suitability; Account Related-Breach of Contract Type of Securities: Unknown type of securities Relief Asked: Actual/Compensatory Damages, ASKED AMOUNT $500,000.00 JOINTLY AND SEVERALLY; Punitive/Exemplary Damages, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY; Interest, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY; Attorney's Fees, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY; Other costs, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY; Other Monetary Relief, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY NASD BrokerCheck October 14, 2005 Page 23 This information is current as of: 10/14/2005 ________________________________________________________________________________ NASD Member Firm: RAYMOND JAMES FINANCIAL SERVICES, INC. CRD Number: 6694 BROKERAGE FIRM ARBITRATIONS(cont.) Disposition: AWARD AGAINST PARTY Disposition Date: 08/31/2005 Relief Awarded: Actual/Compensatory Damages, Relief Request has been denied in full; Punitive/Exemplary Damages, Relief Request has been denied in full; Interest, Relief Request has been denied in full; Attorney's Fees, Relief Request has been denied in full; Other costs, Relief Request has been denied in full; Other Monetary Relief, Relief Request has been denied in full 7c. Relief Asked: Specific Performance, ASKED AMOUNT SEVERALLY 8a. Current Status: AWARD AGAINST PARTY 8b. Status Date: 08/31/2005 8c. Relief Awarded: Specific Performance, Relief has been awarded (partial or full, Award Amount *** BROKERAGE FIRM ARBITRATION (6 of 71) *** Type of Event: ARBITRATION Update: YES Arbitration Forum: NASD Case Served Date: 07/09/2004 Case Number: 04-04830 Allegations: Fraudulent Activity - Omission of Facts; Fraudulent Activity-Suitability; Fraudulent Activity-Brch of Fiduciary Dt Type of Securities: Unknown type of securities Relief Asked: Actual/Compensatory Damages, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY; Other Monetary Relief, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY; Other Monetary Relief, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY; Attorney's Fees, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY; Attorney's Fees, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY; Other Monetary Relief, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY; Other Monetary Relief, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY Disposition: AWARD AGAINST PARTY Disposition Date: 07/18/2005 Relief Awarded: Actual/Compensatory Damages, Relief has been awarded (partial or full, Award Amount $147,886.44; Other Monetary Relief, Relief Request has been denied in full; Other Monetary Relief, Relief Request has been denied in full; Attorney's Fees, Relief Request has been denied in full; Attorney's Fees, Relief Request has been denied in full; Other Monetary Relief, Relief Request has been denied in full; Other Monetary Relief, Relief Request has been denied in full 7c. Relief Asked: Other costs, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY 8a. Current Status: AWARD AGAINST PARTY 8b. Status Date: 07/18/2005 8c. Relief Awarded: Other costs, Relief has been awarded (partial or full, Award Amount $250.00 *** BROKERAGE FIRM ARBITRATION (7 of 71) *** Type of Event: ARBITRATION Update: YES Arbitration Forum: NASD Case Served Date: 12/27/2004 Case Number: 04-08314 Allegations: Account Related-Other; Account Related-Negligence; Account Related - Failure to Supervise; Fraudulent Activity - Omission of Facts Type of Securities: Common Stock;Mutual Funds Relief Asked: Actual/Compensatory Damages, ASKED AMOUNT $25,000.00 JOINTLY AND SEVERALLY; Actual/Compensatory Damages, NASD BrokerCheck October 14, 2005 Page 24 This information is current as of: 10/14/2005 ________________________________________________________________________________ NASD Member Firm: RAYMOND JAMES FINANCIAL SERVICES, INC. CRD Number: 6694 BROKERAGE FIRM ARBITRATIONS(cont.) ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY; Actual/Compensatory Damages, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY; Actual/Compensatory Damages, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY; Actual/Compensatory Damages, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY; Actual/Compensatory Damages, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY; Actual/Compensatory Damages, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY; Actual/Compensatory Damages, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY; Actual/Compensatory Damages, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY; Actual/Compensatory Damages, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY; Actual/Compensatory Damages, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY; Actual/Compensatory Damages, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY; Actual/Compensatory Damages, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY; Actual/Compensatory Damages, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY; Actual/Compensatory Damages, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY; Actual/Compensatory Damages, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY Disposition: AWARD AGAINST PARTY Disposition Date: 05/19/2005 Relief Awarded: Actual/Compensatory Damages, Relief Request has been denied in full; Actual/Compensatory Damages, Relief Request has been denied in full; Actual/Compensatory Damages, Relief Request has been denied in full; Actual/Compensatory Damages, Relief Request has been denied in full; Actual/Compensatory Damages, Relief Request has been denied in full; Actual/Compensatory Damages, Relief Request has been denied in full; Actual/Compensatory Damages, Relief Request has been denied in full; Actual/Compensatory Damages, Relief Request has been denied in full; Actual/Compensatory Damages, Relief Request has been denied in full; Actual/Compensatory Damages, Relief Request has been denied in full; Actual/Compensatory Damages, Relief Request has been denied in full; Actual/Compensatory Damages, Relief Request has been denied in full; Actual/Compensatory Damages, Relief Request has been denied in full; Actual/Compensatory Damages, Relief Request has been denied in full; Actual/Compensatory Damages, Relief Request has been denied in full; Actual/Compensatory Damages, Relief Request has been denied in full 7c. Relief Asked: Other costs, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY; Other costs, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY; Other costs, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY; Other costs, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY; Other costs, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY; Other costs, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY; Other costs, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY; Other costs, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY; Other costs, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY; Other costs, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY; Other costs, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY; Other costs, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY; Other costs, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY; Other costs, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY; Other costs, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY; Other costs, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY; Other costs, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY; Other costs, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY 8a. Current Status: AWARD AGAINST PARTY 8b. Status Date: 05/19/2005 8c. Relief Awarded: Other costs, Relief has been awarded (partial or full, Award Amount $212.50; Other costs, Relief has been awarded (partial or full; Other costs, Relief has been awarded (partial or full; Other costs, Relief has been awarded (partial or full; Other costs, Relief has been awarded (partial or full; Other costs, Relief has been awarded (partial or full; Other costs, Relief has been awarded (partial or full; Other costs, Relief has been awarded (partial or full; Other costs, Relief has been awarded (partial or full; Other costs, Relief has been awarded (partial or full; Other costs, Relief has been awarded (partial or full; Other costs, Relief has been awarded (partial or full; Other costs, Relief has been awarded (partial or full; Other costs, Relief has been awarded (partial or full; Other costs, Relief has been awarded (partial or full; Other costs, Relief has been awarded (partial or full; Other costs, Relief has been awarded (partial or full; Other costs, Relief has been awarded (partial or full NASD BrokerCheck October 14, 2005 Page 25 This information is current as of: 10/14/2005 ________________________________________________________________________________ NASD Member Firm: RAYMOND JAMES FINANCIAL SERVICES, INC. CRD Number: 6694 BROKERAGE FIRM ARBITRATIONS(cont.) *** BROKERAGE FIRM ARBITRATION (8 of 71) *** Type of Event: ARBITRATION Update: YES Arbitration Forum: NASD Case Served Date: 11/27/2002 Case Number: 02-06239 Allegations: Fraudulent Activity - Omission of Facts; Fraudulent Activity-Misrepresentation; Fraudulent Activity-Other; Account Related-Negligence Type of Securities: Common Stock Relief Asked: Actual/Compensatory Damages, ASKED AMOUNT $800,000.00 SEVERALLY ; Attorney's Fees, ASKED AMOUNT $0.00 SEVERALLY ; Other costs, ASKED AMOUNT $0.00 SEVERALLY ; Interest, ASKED AMOUNT $0.00 SEVERALLY ; Other Monetary Relief, ASKED AMOUNT $0.00 SEVERALLY ; Other costs, ASKED AMOUNT $0.00 SEVERALLY ; Punitive/Exemplary Damages, ASKED AMOUNT $0.00 SEVERALLY ; Actual/Compensatory Damages, ASKED AMOUNT $0.00 SEVERALLY ; Attorney's Fees, ASKED AMOUNT $0.00 SEVERALLY ; Other costs, ASKED AMOUNT $0.00 SEVERALLY ; Interest, ASKED AMOUNT $0.00 SEVERALLY ; Other Monetary Relief, ASKED AMOUNT $0.00 SEVERALLY ; Punitive/Exemplary Damages, ASKED AMOUNT $0.00 SEVERALLY ; Actual/Compensatory Damages, ASKED AMOUNT $0.00 SEVERALLY ; Attorney's Fees, ASKED AMOUNT $0.00 SEVERALLY ; Interest, ASKED AMOUNT $0.00 SEVERALLY ; Other Monetary Relief, ASKED AMOUNT $0.00 SEVERALLY ; Punitive/Exemplary Damages, ASKED AMOUNT $0.00 SEVERALLY Disposition: AWARD AGAINST PARTY Disposition Date: 05/09/2005 Relief Awarded: Actual/Compensatory Damages, Relief has been awarded (partial or full, Award Amount $137,000.00; Attorney's Fees, Relief has been awarded (partial or full, Award Amount $0.01; Other costs, Relief has been awarded (partial or full, Award Amount $29,929.63; Interest, Relief has been awarded (partial or full, Award Amount $0.01; Other Monetary Relief, Relief Request has been denied in full; Other costs, Relief has been awarded (partial or full; Punitive/Exemplary Damages, Relief Request has been denied in full; Actual/Compensatory Damages, Relief has been awarded (partial or full; Attorney's Fees, Relief has been awarded (partial or full; Other costs, Relief has been awarded (partial or full; Interest, Relief has been awarded (partial or full; Other Monetary Relief, Relief Request has been denied in full; Punitive/Exemplary Damages, Relief Request has been denied in full; Actual/Compensatory Damages, Relief has been awarded (partial or full; Attorney's Fees, Relief has been awarded (partial or full; Interest, Relief has been awarded (partial or full; Other Monetary Relief, Relief Request has been denied in full; Punitive/Exemplary Damages, Relief Request has been denied in full *** BROKERAGE FIRM ARBITRATION (9 of 71) *** Type of Event: ARBITRATION Update: YES Arbitration Forum: NASD Case Served Date: 02/26/2003 Case Number: 03-01219 Allegations: Account Related-Breach of Contract; Account Related-Negligence; Account Related - Failure to Supervise; Fraudulent Activity-Brch of Fiduciary Dt Type of Securities: Common Stock;Mutual Funds Relief Asked: Actual/Compensatory Damages, ASKED AMOUNT $110,000.00 JOINTLY AND SEVERALLY; Punitive/Exemplary Damages, NASD BrokerCheck October 14, 2005 Page 26 This information is current as of: 10/14/2005 ________________________________________________________________________________ NASD Member Firm: RAYMOND JAMES FINANCIAL SERVICES, INC. CRD Number: 6694 BROKERAGE FIRM ARBITRATIONS(cont.) ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY; Interest, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY; Other costs, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY; Attorney's Fees, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY; Other Monetary Relief, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY; Actual/Compensatory Damages, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY; Punitive/Exemplary Damages, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY; Interest, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY; Other costs, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY; Attorney's Fees, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY; Other Monetary Relief, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY; Actual/Compensatory Damages, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY; Punitive/Exemplary Damages, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY; Interest, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY; Other costs, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY; Attorney's Fees, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY; Other Monetary Relief, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY Disposition: AWARD AGAINST PARTY Disposition Date: 04/26/2005 Relief Awarded: Actual/Compensatory Damages, Relief Request has been denied in full; Punitive/Exemplary Damages, Relief Request has been denied in full; Interest, Relief Request has been denied in full; Other costs, Relief Request has been denied in full; Attorney's Fees, Relief Request has been denied in full; Other Monetary Relief, Relief Request has been denied in full; Actual/Compensatory Damages, Relief Request has been denied in full; Punitive/Exemplary Damages, Relief Request has been denied in full; Interest, Relief Request has been denied in full; Other costs, Relief Request has been denied in full; Attorney's Fees, Relief Request has been denied in full; Other Monetary Relief, Relief Request has been denied in full; Actual/Compensatory Damages, Relief Request has been denied in full; Punitive/Exemplary Damages, Relief Request has been denied in full; Interest, Relief Request has been denied in full; Other costs, Relief Request has been denied in full; Attorney's Fees, Relief Request has been denied in full; Other Monetary Relief, Relief Request has been denied in full 7c. Relief Asked: Actual/Compensatory Damages, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY; Interest, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY 8a. Current Status: AWARD AGAINST PARTY 8b. Status Date: 04/26/2005 8c. Relief Awarded: Actual/Compensatory Damages, Relief has been awarded (partial or full, Award Amount $44,000.00; Interest, Relief has been awarded (partial or full, Award Amount $0.01 ** BROKERAGE FIRM ARBITRATION (10 of 71) ** Type of Event: ARBITRATION Update: YES Arbitration Forum: NASD Case Served Date: 03/09/2004 Case Number: 04-01133 Allegations: Fraudulent Activity-Brch of Fiduciary Dt; Account Related-Breach of Contract; Account Related-Negligence; Account Related - Failure to Supervise Type of Securities: Common Stock Relief Asked: Actual/Compensatory Damages, ASKED AMOUNT $101,182.76 SEVERALLY ; Interest, ASKED AMOUNT $0.00 SEVERALLY ; Attorney's Fees, ASKED AMOUNT $0.00 SEVERALLY ; Punitive/Exemplary Damages, ASKED AMOUNT $0.00 SEVERALLY ; Other costs, ASKED AMOUNT $0.00 SEVERALLY ; Other Monetary Relief, ASKED AMOUNT $0.00 SEVERALLY ; Treble Damages, ASKED AMOUNT $202,365.52 JOINTLY AND SEVERALLY Disposition: AWARD AGAINST PARTY Disposition Date: 04/19/2005 Relief Awarded: Actual/Compensatory Damages, Relief has been awarded NASD BrokerCheck October 14, 2005 Page 27 This information is current as of: 10/14/2005 ________________________________________________________________________________ NASD Member Firm: RAYMOND JAMES FINANCIAL SERVICES, INC. CRD Number: 6694 BROKERAGE FIRM ARBITRATIONS(cont.) (partial or full, Award Amount $51,827.86; Interest, Relief has been awarded (partial or full, Award Amount $0.01; Attorney's Fees, Relief Request has been denied in full; Punitive/Exemplary Damages, Relief Request has been denied in full; Other costs, Relief has been awarded (partial or full, Award Amount $300.00; Other Monetary Relief, Relief Request has been denied in full; Treble Damages, Relief Request has been denied in full ** BROKERAGE FIRM ARBITRATION (11 of 71) ** Type of Event: ARBITRATION Update: YES Arbitration Forum: NASD Case Served Date: 12/22/2003 Case Number: 03-08927 Allegations: Fraudulent Activity-Brch of Fiduciary Dt; Fraudulent Activity-Misrepresentation; Fraudulent Activity - Omission of Facts; Fraudulent Activity-Suitability Type of Securities: Mutual Funds;Annuities;Common Stock;Corporate Bonds Relief Asked: Actual/Compensatory Damages, ASKED AMOUNT $246,000.00 SEVERALLY ; Punitive/Exemplary Damages, ASKED AMOUNT $253,000.00 SEVERALLY ; Other costs, ASKED AMOUNT $0.00 SEVERALLY ; Attorney's Fees, ASKED AMOUNT $0.00 SEVERALLY Disposition: AWARD AGAINST PARTY Disposition Date: 04/21/2005 Relief Awarded: Actual/Compensatory Damages, Relief has been awarded (partial or full, Award Amount $23,400.00; Punitive/Exemplary Damages, Relief Request has been denied in full; Other costs, Relief Request has been denied in full; Attorney's Fees, Relief Request has been denied in full ** BROKERAGE FIRM ARBITRATION (12 of 71) ** Type of Event: ARBITRATION Update: YES Arbitration Forum: NASD Case Served Date: 06/02/2003 Case Number: 03-03772 Allegations: Account Related-Negligence; Account Related-Breach of Contract; Fraudulent Activity-Brch of Fiduciary Dt Type of Securities: Common Stock Relief Asked: Actual/Compensatory Damages, ASKED AMOUNT $182,000.00 JOINTLY AND SEVERALLY; Punitive/Exemplary Damages, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY; Attorney's Fees, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY; Other costs, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY; Interest, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY Disposition: NO AWARD AGAINST PARTY Disposition Date: 04/15/2005 Relief Awarded: Actual/Compensatory Damages, Relief Request has been denied in full; Punitive/Exemplary Damages, Relief Request has been denied in full; Attorney's Fees, Relief Request has been denied in full; Other costs, Relief Request has been denied in full; Interest, Relief Request has been denied in full ** BROKERAGE FIRM ARBITRATION (13 of 71) ** NASD BrokerCheck October 14, 2005 Page 28 This information is current as of: 10/14/2005 ________________________________________________________________________________ NASD Member Firm: RAYMOND JAMES FINANCIAL SERVICES, INC. CRD Number: 6694 BROKERAGE FIRM ARBITRATIONS(cont.) Type of Event: ARBITRATION Update: YES Arbitration Forum: NASD Case Served Date: 01/21/2004 Case Number: 03-09185 Allegations: Fraudulent Activity-Brch of Fiduciary Dt; Fraudulent Activity-Suitability; Account Related-Negligence; Account Related - Failure to Supervise Type of Securities: Common Stock Relief Asked: Actual/Compensatory Damages, ASKED AMOUNT $150,000.00 SEVERALLY ; Interest, ASKED AMOUNT $0.00 SEVERALLY ; Punitive/Exemplary Damages, ASKED AMOUNT $0.00 SEVERALLY ; Actual/Compensatory Damages, ASKED AMOUNT $0.00 SEVERALLY ; Other costs, ASKED AMOUNT $0.00 SEVERALLY ; Other Monetary Relief, ASKED AMOUNT $0.00 SEVERALLY ; Declaratory Judgement, ASKED AMOUNT SEVERALLY ; Other costs, ASKED AMOUNT $0.00 SEVERALLY Disposition: NO AWARD AGAINST PARTY Disposition Date: 03/30/2005 Relief Awarded: Actual/Compensatory Damages, Relief Request has been denied in full; Interest, Relief Request has been denied in full; Punitive/Exemplary Damages, Relief Request has been denied in full; Actual/Compensatory Damages, Relief Request has been denied in full; Other costs, Relief Request has been denied in full; Other Monetary Relief, Relief Request has been denied in full; Declaratory Judgement, Relief Request has been denied in full; Other costs, Relief Request has been denied in full ** BROKERAGE FIRM ARBITRATION (14 of 71) ** Type of Event: ARBITRATION Update: YES Arbitration Forum: NASD Case Served Date: 12/17/2003 Case Number: 03-08764 Allegations: Fraudulent Activity-Suitability; Fraudulent Activity-Misrepresentation; Fraudulent Activity - Omission of Facts; Fraudulent Activity-Brch of Fiduciary Dt Type of Securities: Unknown type of securities Relief Asked: Actual/Compensatory Damages, ASKED AMOUNT $1,000,000.00 SEVERALLY ; Interest, ASKED AMOUNT $0.00 SEVERALLY ; Punitive/Exemplary Damages, ASKED AMOUNT $0.00 SEVERALLY ; Actual/Compensatory Damages, ASKED AMOUNT $0.00 SEVERALLY ; Other costs, ASKED AMOUNT $0.00 SEVERALLY ; Other Monetary Relief, ASKED AMOUNT $0.00 SEVERALLY ; Actual/Compensatory Damages, ASKED AMOUNT $0.00 SEVERALLY ; Interest, ASKED AMOUNT $0.00 SEVERALLY ; Punitive/Exemplary Damages, ASKED AMOUNT $0.00 SEVERALLY ; Actual/Compensatory Damages, ASKED AMOUNT $0.00 SEVERALLY ; Other costs, ASKED AMOUNT $0.00 SEVERALLY ; Other Monetary Relief, ASKED AMOUNT $0.00 SEVERALLY ; Actual/Compensatory Damages, ASKED AMOUNT $0.00 SEVERALLY ; Punitive/Exemplary Damages, ASKED AMOUNT $0.00 SEVERALLY ; Interest, ASKED AMOUNT $0.00 SEVERALLY ; Actual/Compensatory Damages, ASKED AMOUNT $0.00 SEVERALLY ; Other costs, ASKED AMOUNT $0.00 SEVERALLY ; Other Monetary Relief, ASKED AMOUNT $0.00 SEVERALLY ; Actual/Compensatory Damages, ASKED AMOUNT $0.00 SEVERALLY ; Interest, ASKED AMOUNT $0.00 SEVERALLY ; Punitive/Exemplary Damages, ASKED AMOUNT $0.00 SEVERALLY ; Actual/Compensatory Damages, ASKED AMOUNT $0.00 SEVERALLY ; Other costs, ASKED AMOUNT $0.00 SEVERALLY ; Other Monetary Relief, ASKED AMOUNT $0.00 SEVERALLY Disposition: AWARD AGAINST PARTY NASD BrokerCheck October 14, 2005 Page 29 This information is current as of: 10/14/2005 ________________________________________________________________________________ NASD Member Firm: RAYMOND JAMES FINANCIAL SERVICES, INC. CRD Number: 6694 BROKERAGE FIRM ARBITRATIONS(cont.) Disposition Date: 03/21/2005 Relief Awarded: Actual/Compensatory Damages, Relief has been awarded (partial or full, Award Amount $419,202.00; Interest, Relief has been awarded (partial or full, Award Amount $0.01; Punitive/Exemplary Damages, Relief Request has been denied in full; Actual/Compensatory Damages, Relief Request has been denied in full; Other costs, Relief has been awarded (partial or full, Award Amount $17,856.51; Other Monetary Relief, Relief Request has been denied in full; Actual/Compensatory Damages, Relief has been awarded (partial or full; Interest, Relief has been awarded (partial or full; Punitive/Exemplary Damages, Relief Request has been denied in full; Actual/Compensatory Damages, Relief Request has been denied in full; Other costs, Relief has been awarded (partial or full; Other Monetary Relief, Relief Request has been denied in full; Actual/Compensatory Damages, Relief has been awarded (partial or full; Punitive/Exemplary Damages, Relief Request has been denied in full; Interest, Relief has been awarded (partial or full; Actual/Compensatory Damages, Relief Request has been denied in full; Other costs, Relief has been awarded (partial or full; Other Monetary Relief, Relief Request has been denied in full; Actual/Compensatory Damages, Relief has been awarded (partial or full; Interest, Relief has been awarded (partial or full; Punitive/Exemplary Damages, Relief Request has been denied in full; Actual/Compensatory Damages, Relief Request has been denied in full; Other costs, Relief has been awarded (partial or full; Other Monetary Relief, Relief Request has been denied in full ** BROKERAGE FIRM ARBITRATION (15 of 71) ** Type of Event: ARBITRATION Update: YES Arbitration Forum: NASD Case Served Date: 12/16/2003 Case Number: 03-08763 Allegations: FRAUDULENT ACTIVITY-MISREPRESENTATION; FRAUDULENT ACTIVITY - OMISSION OF FACTS; FRAUDULENT ACTIVITY-BRCH OF FIDUCIARY DT; FRAUDULENT ACTIVITY-SUITABILITY Type of Securities: COMMON STOCK Relief Asked: ACTUAL/COMPENSATORY DAMAGES, ASKED AMOUNT $100,000.00 SEVERALLY ; INTEREST, ASKED AMOUNT $0.00 SEVERALLY ; PUNITIVE/EXEMPLARY DAMAGES, ASKED AMOUNT $0.00 SEVERALLY ; DECLARATORY JUDGEMENT, ASKED AMOUNT SEVERALLY ; ACTUAL/COMPENSATORY DAMAGES, ASKED AMOUNT $0.00 SEVERALLY ; OTHER COSTS, ASKED AMOUNT $0.00 SEVERALLY ; OTHER COSTS, ASKED AMOUNT $0.00 SEVERALLY ; OTHER MONETARY RELIEF, ASKED AMOUNT $0.00 SEVERALLY Disposition: NO AWARD AGAINST PARTY Disposition Date: 03/02/2005 Relief Awarded: ACTUAL/COMPENSATORY DAMAGES, RELIEF REQUEST HAS BEEN DENIED IN FULL; INTEREST, RELIEF REQUEST HAS BEEN DENIED IN FULL; PUNITIVE/EXEMPLARY DAMAGES, RELIEF REQUEST HAS BEEN DENIED IN FULL; DECLARATORY JUDGEMENT, RELIEF REQUEST HAS BEEN DENIED IN FULL; ACTUAL/COMPENSATORY DAMAGES, RELIEF REQUEST HAS BEEN DENIED IN FULL; OTHER COSTS, RELIEF REQUEST HAS BEEN DENIED IN FULL; OTHER COSTS, RELIEF REQUEST HAS BEEN DENIED IN FULL; OTHER MONETARY RELIEF, RELIEF REQUEST HAS BEEN DENIED IN FULL ** BROKERAGE FIRM ARBITRATION (16 of 71) ** Type of Event: ARBITRATION Update: YES Arbitration Forum: NASD NASD BrokerCheck October 14, 2005 Page 30 This information is current as of: 10/14/2005 ________________________________________________________________________________ NASD Member Firm: RAYMOND JAMES FINANCIAL SERVICES, INC. CRD Number: 6694 BROKERAGE FIRM ARBITRATIONS(cont.) Case Served Date: 12/19/2003 Case Number: 03-08723 Allegations: FRAUDULENT ACTIVITY-MISREPRESENTATION; FRAUDULENT ACTIVITY - OMISSION OF FACTS; ACCOUNT RELATED-BREACH OF CONTRACT; FRAUDULENT ACTIVITY-BRCH OF FIDUCIARY DT Type of Securities: UNKNOWN TYPE OF SECURITIES Relief Asked: ACTUAL/COMPENSATORY DAMAGES, ASKED AMOUNT $150,000.00 JOINTLY AND SEVERALLY; PUNITIVE/EXEMPLARY DAMAGES, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY; INTEREST, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY; ATTORNEY'S FEES, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY; OTHER COSTS, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY; OTHER MONETARY RELIEF, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY Disposition: NO AWARD AGAINST PARTY Disposition Date: 02/25/2005 Relief Awarded: ACTUAL/COMPENSATORY DAMAGES, RELIEF REQUEST HAS BEEN DENIED IN FULL; PUNITIVE/EXEMPLARY DAMAGES, RELIEF REQUEST HAS BEEN DENIED IN FULL; INTEREST, RELIEF REQUEST HAS BEEN DENIED IN FULL; ATTORNEY'S FEES, RELIEF REQUEST HAS BEEN DENIED IN FULL; OTHER COSTS, RELIEF REQUEST HAS BEEN DENIED IN FULL; OTHER MONETARY RELIEF, RELIEF REQUEST HAS BEEN DENIED IN FULL ** BROKERAGE FIRM ARBITRATION (17 of 71) ** Type of Event: ARBITRATION Update: NO Arbitration Forum: NASD Case Served Date: 04/22/2002 Case Number: 02-01368 Allegations: FRAUDULENT ACTIVITY-CHURNING; ACCOUNT RELATED - FAILURE TO SUPERVISE; FRAUDULENT ACTIVITY-UNAUTHORIZED TRADING; FRAUDULENT ACTIVITY-BRCH OF FIDUCIARY DT Type of Securities: UNKNOWN TYPE OF SECURITIES Relief Asked: ACTUAL/COMPENSATORY DAMAGES, ASKED AMOUNT $1,000,000.00 JOINTLY AND SEVERALLY; INTEREST, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY; OTHER MONETARY RELIEF, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY; PUNITIVE/EXEMPLARY DAMAGES, ASKED AMOUNT $1,000,000.00 JOINTLY AND SEVERALLY; INTEREST, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY; ATTORNEY'S FEES, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY; OTHER MONETARY RELIEF, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY; OTHER COSTS, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY Disposition: NO AWARD AGAINST PARTY Disposition Date: 01/21/2005 Relief Awarded: ACTUAL/COMPENSATORY DAMAGES, RELIEF REQUEST HAS BEEN DENIED IN FULL; INTEREST, RELIEF REQUEST HAS BEEN DENIED IN FULL; OTHER MONETARY RELIEF, RELIEF REQUEST HAS BEEN DENIED IN FULL; PUNITIVE/EXEMPLARY DAMAGES, RELIEF REQUEST HAS BEEN DENIED IN FULL; INTEREST, RELIEF REQUEST HAS BEEN DENIED IN FULL; ATTORNEY'S FEES, RELIEF REQUEST HAS BEEN DENIED IN FULL; OTHER MONETARY RELIEF, RELIEF REQUEST HAS BEEN DENIED IN FULL; OTHER COSTS, RELIEF REQUEST HAS BEEN DENIED IN FULL ** BROKERAGE FIRM ARBITRATION (18 of 71) ** Type of Event: ARBITRATION Update: YES Arbitration Forum: NASD NASD BrokerCheck October 14, 2005 Page 31 This information is current as of: 10/14/2005 ________________________________________________________________________________ NASD Member Firm: RAYMOND JAMES FINANCIAL SERVICES, INC. CRD Number: 6694 BROKERAGE FIRM ARBITRATIONS(cont.) Case Served Date: 04/04/2003 Case Number: 03-02306 Allegations: ACCOUNT RELATED-BREACH OF CONTRACT; FRAUDULENT ACTIVITY-BRCH OF FIDUCIARY DT; FRAUDULENT ACTIVITY-MISREPRESENTATION; FRAUDULENT ACTIVITY - OMISSION OF FACTS Type of Securities: MUTUAL FUNDS;COMMON STOCK Relief Asked: ACTUAL/COMPENSATORY DAMAGES, ASKED AMOUNT $425,099.00 JOINTLY AND SEVERALLY; PUNITIVE/EXEMPLARY DAMAGES, ASKED AMOUNT $1,275,285.00 JOINTLY AND SEVERALLY; ACTUAL/COMPENSATORY DAMAGES, ASKED AMOUNT $12,830.00 JOINTLY AND SEVERALLY; OTHER COSTS, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY; OTHER MONETARY RELIEF, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY; ATTORNEY'S FEES, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY; INTEREST, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY Disposition: AWARD AGAINST PARTY Disposition Date: 01/11/2005 Relief Awarded: ACTUAL/COMPENSATORY DAMAGES, RELIEF REQUEST HAS BEEN DENIED IN FULL; PUNITIVE/EXEMPLARY DAMAGES, RELIEF REQUEST HAS BEEN DENIED IN FULL; ACTUAL/COMPENSATORY DAMAGES, RELIEF REQUEST HAS BEEN DENIED IN FULL; OTHER COSTS, RELIEF REQUEST HAS BEEN DENIED IN FULL; OTHER MONETARY RELIEF, RELIEF REQUEST HAS BEEN DENIED IN FULL; ATTORNEY'S FEES, RELIEF REQUEST HAS BEEN DENIED IN FULL; INTEREST, RELIEF REQUEST HAS BEEN DENIED IN FULL 7C. RELIEF ASKED: ACTUAL/COMPENSATORY DAMAGES, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY 8A. CURRENT STATUS: AWARD AGAINST PARTY 8B. STATUS DATE: 01/11/2005 8C. RELIEF AWARDED: ACTUAL/COMPENSATORY DAMAGES, RELIEF HAS BEEN AWARDED (PARTIAL OR FULL, AWARD AMOUNT $9,999.00 ** BROKERAGE FIRM ARBITRATION (19 of 71) ** Type of Event: ARBITRATION Update: YES Arbitration Forum: NASD Case Served Date: 12/23/2003 Case Number: 03-08972 Allegations: FRAUDULENT ACTIVITY-BRCH OF FIDUCIARY DT; FRAUDULENT ACTIVITY-UNAUTHORIZED TRADING; FRAUDULENT ACTIVITY-MISREPRESENTATION; FRAUDULENT ACTIVITY - OMISSION OF FACTS Type of Securities: COMMON STOCK Relief Asked: ACTUAL/COMPENSATORY DAMAGES, ASKED AMOUNT $100,000.00 SEVERALLY ; INTEREST, ASKED AMOUNT $0.00 SEVERALLY ; PUNITIVE/EXEMPLARY DAMAGES, ASKED AMOUNT $0.00 SEVERALLY ; ATTORNEY'S FEES, ASKED AMOUNT $0.00 SEVERALLY ; ACTUAL/COMPENSATORY DAMAGES, ASKED AMOUNT $0.00 SEVERALLY ; OTHER COSTS, ASKED AMOUNT $0.00 SEVERALLY ; OTHER MONETARY RELIEF, ASKED AMOUNT $0.00 SEVERALLY Disposition: AWARD AGAINST PARTY Disposition Date: 12/02/2004 Relief Awarded: ACTUAL/COMPENSATORY DAMAGES, RELIEF HAS BEEN AWARDED (PARTIAL OR FULL, AWARD AMOUNT $20,000.00; INTEREST, RELIEF REQUEST HAS BEEN DENIED IN FULL; PUNITIVE/EXEMPLARY DAMAGES, RELIEF REQUEST HAS BEEN DENIED IN FULL; ATTORNEY'S FEES, RELIEF REQUEST HAS BEEN DENIED IN FULL; ACTUAL/COMPENSATORY DAMAGES, RELIEF REQUEST HAS BEEN DENIED IN FULL; OTHER COSTS, RELIEF REQUEST HAS BEEN DENIED IN FULL; OTHER MONETARY RELIEF, RELIEF REQUEST HAS BEEN DENIED IN FULL ** BROKERAGE FIRM ARBITRATION (20 of 71) ** NASD BrokerCheck October 14, 2005 Page 32 This information is current as of: 10/14/2005 ________________________________________________________________________________ NASD Member Firm: RAYMOND JAMES FINANCIAL SERVICES, INC. CRD Number: 6694 BROKERAGE FIRM ARBITRATIONS(cont.) Type of Event: ARBITRATION Update: YES Arbitration Forum: NASD Case Served Date: 08/21/2003 Case Number: 03-05945 Allegations: FRAUDULENT ACTIVITY-SUITABILITY; ACCOUNT RELATED-NEGLIGENCE; FRAUDULENT ACTIVITY-UNAUTHORIZED TRADING; FRAUDULENT ACTIVITY-BRCH OF FIDUCIARY DT Type of Securities: UNKNOWN TYPE OF SECURITIES Relief Asked: ACTUAL/COMPENSATORY DAMAGES, ASKED AMOUNT $250,000.00 JOINTLY AND SEVERALLY; ACTUAL/COMPENSATORY DAMAGES, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY; PUNITIVE/EXEMPLARY DAMAGES, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY; INTEREST, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY; OTHER COSTS, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY; ATTORNEY'S FEES, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY; OTHER MONETARY RELIEF, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY Disposition: AWARD AGAINST PARTY Disposition Date: 11/24/2004 Relief Awarded: ACTUAL/COMPENSATORY DAMAGES, RELIEF HAS BEEN AWARDED (PARTIAL OR FULL, AWARD AMOUNT $33,000.00; ACTUAL/COMPENSATORY DAMAGES, RELIEF REQUEST HAS BEEN DENIED IN FULL; PUNITIVE/EXEMPLARY DAMAGES, RELIEF REQUEST HAS BEEN DENIED IN FULL; INTEREST, RELIEF HAS BEEN AWARDED (PARTIAL OR FULL, AWARD AMOUNT $9,636.00; OTHER COSTS, RELIEF REQUEST HAS BEEN DENIED IN FULL; ATTORNEY'S FEES, RELIEF HAS BEEN AWARDED (PARTIAL OR FULL, AWARD AMOUNT $15,000.00; OTHER MONETARY RELIEF, RELIEF REQUEST HAS BEEN DENIED IN FULL ** BROKERAGE FIRM ARBITRATION (21 of 71) ** Type of Event: ARBITRATION Update: YES Arbitration Forum: NASD Case Served Date: 07/15/2003 Case Number: 03-04374 Allegations: ACCOUNT RELATED-NEGLIGENCE; FRAUDULENT ACTIVITY-BRCH OF FIDUCIARY DT; FRAUDULENT ACTIVITY-MISREPRESENTATION; FRAUDULENT ACTIVITY-CHURNING Type of Securities: COMMON STOCK;ANNUITIES Relief Asked: ACTUAL/COMPENSATORY DAMAGES, ASKED AMOUNT $78,806.13 JOINTLY AND SEVERALLY; PUNITIVE/EXEMPLARY DAMAGES, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY; INTEREST, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY; ATTORNEY'S FEES, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY; OTHER COSTS, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY; OTHER MONETARY RELIEF, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY Disposition: NO AWARD AGAINST PARTY Disposition Date: 11/15/2004 Relief Awarded: ACTUAL/COMPENSATORY DAMAGES, RELIEF REQUEST HAS BEEN DENIED IN FULL; PUNITIVE/EXEMPLARY DAMAGES, RELIEF REQUEST HAS BEEN DENIED IN FULL; INTEREST, RELIEF REQUEST HAS BEEN DENIED IN FULL; ATTORNEY'S FEES, RELIEF REQUEST HAS BEEN DENIED IN FULL; OTHER COSTS, RELIEF REQUEST HAS BEEN DENIED IN FULL; OTHER MONETARY RELIEF, RELIEF REQUEST HAS BEEN DENIED IN FULL ** BROKERAGE FIRM ARBITRATION (22 of 71) ** Type of Event: ARBITRATION NASD BrokerCheck October 14, 2005 Page 33 This information is current as of: 10/14/2005 ________________________________________________________________________________ NASD Member Firm: RAYMOND JAMES FINANCIAL SERVICES, INC. CRD Number: 6694 BROKERAGE FIRM ARBITRATIONS(cont.) Update: YES Arbitration Forum: NASD Case Served Date: 07/18/2003 Case Number: 03-04051 Allegations: UNKNOWN TYPE OF CONTROVERSY Type of Securities: UNKNOWN TYPE OF SECURITIES Relief Asked: ACTUAL/COMPENSATORY DAMAGES, ASKED AMOUNT $5,000,000.00 JOINTLY AND SEVERALLY; PUNITIVE/EXEMPLARY DAMAGES, ASKED AMOUNT $1,000,000.00 JOINTLY AND SEVERALLY; TREBLE DAMAGES, ASKED AMOUNT $10,000,000.00 JOINTLY AND SEVERALLY; ATTORNEY'S FEES, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY; INJUNCTION, ASKED AMOUNT JOINTLY AND SEVERALLY; OTHER COSTS, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY Disposition: AWARD AGAINST PARTY Disposition Date: 10/29/2004 Relief Awarded: ACTUAL/COMPENSATORY DAMAGES, RELIEF HAS BEEN AWARDED (PARTIAL OR FULL, AWARD AMOUNT $10,000.00; PUNITIVE/EXEMPLARY DAMAGES, RELIEF REQUEST HAS BEEN DENIED IN FULL; TREBLE DAMAGES, RELIEF REQUEST HAS BEEN DENIED IN FULL; ATTORNEY'S FEES, RELIEF REQUEST HAS BEEN DENIED IN FULL; INJUNCTION, RELIEF REQUEST HAS BEEN DENIED IN FULL; OTHER COSTS, RELIEF HAS BEEN AWARDED (PARTIAL OR FULL, AWARD AMOUNT $600.00 ** BROKERAGE FIRM ARBITRATION (23 of 71) ** Type of Event: ARBITRATION Update: YES Arbitration Forum: NASD Case Served Date: 07/07/2003 Case Number: 03-03689 Allegations: FRAUDULENT ACTIVITY - OMISSION OF FACTS; FRAUDULENT ACTIVITY-UNAUTHORIZED TRADING; FRAUDULENT ACTIVITY-SUITABILITY; FRAUDULENT ACTIVITY-OTHER Type of Securities: COMMON STOCK;MUTUAL FUNDS Relief Asked: ACTUAL/COMPENSATORY DAMAGES, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY; ACTUAL/COMPENSATORY DAMAGES, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY; OTHER COSTS, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY; INTEREST, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY; OTHER MONETARY RELIEF, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY; PUNITIVE/EXEMPLARY DAMAGES, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY; SPECIFIC PERFORMANCE, ASKED AMOUNT JOINTLY AND SEVERALLY; ACTUAL/COMPENSATORY DAMAGES, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY; ACTUAL/COMPENSATORY DAMAGES, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY; OTHER COSTS, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY; INTEREST, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY; OTHER MONETARY RELIEF, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY; PUNITIVE/EXEMPLARY DAMAGES, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY; SPECIFIC PERFORMANCE, ASKED AMOUNT JOINTLY AND SEVERALLY; ATTORNEY'S FEES, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY; ATTORNEY'S FEES, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY Disposition: NO AWARD AGAINST PARTY Disposition Date: 08/20/2004 Relief Awarded: ACTUAL/COMPENSATORY DAMAGES, RELIEF REQUEST HAS BEEN DENIED IN FULL; ACTUAL/COMPENSATORY DAMAGES, RELIEF REQUEST HAS BEEN DENIED IN FULL; OTHER COSTS, RELIEF REQUEST HAS BEEN DENIED IN FULL; INTEREST, RELIEF REQUEST HAS BEEN DENIED IN FULL; OTHER MONETARY RELIEF, RELIEF REQUEST HAS BEEN DENIED IN FULL; PUNITIVE/EXEMPLARY DAMAGES, RELIEF REQUEST HAS BEEN DENIED IN FULL; SPECIFIC PERFORMANCE, RELIEF REQUEST HAS BEEN DENIED IN FULL; ACTUAL/COMPENSATORY DAMAGES, RELIEF REQUEST HAS BEEN DENIED IN FULL; NASD BrokerCheck October 14, 2005 Page 34 This information is current as of: 10/14/2005 ________________________________________________________________________________ NASD Member Firm: RAYMOND JAMES FINANCIAL SERVICES, INC. CRD Number: 6694 BROKERAGE FIRM ARBITRATIONS(cont.) ACTUAL/COMPENSATORY DAMAGES, RELIEF REQUEST HAS BEEN DENIED IN FULL; OTHER COSTS, RELIEF REQUEST HAS BEEN DENIED IN FULL; INTEREST, RELIEF REQUEST HAS BEEN DENIED IN FULL; OTHER MONETARY RELIEF, RELIEF REQUEST HAS BEEN DENIED IN FULL; PUNITIVE/EXEMPLARY DAMAGES, RELIEF REQUEST HAS BEEN DENIED IN FULL; SPECIFIC PERFORMANCE, RELIEF REQUEST HAS BEEN DENIED IN FULL; ATTORNEY'S FEES, RELIEF REQUEST HAS BEEN DENIED IN FULL; ATTORNEY'S FEES, RELIEF REQUEST HAS BEEN DENIED IN FULL ** BROKERAGE FIRM ARBITRATION (24 of 71) ** Type of Event: ARBITRATION Update: YES Arbitration Forum: NASD Case Served Date: 04/30/2003 Case Number: 03-02176 Allegations: FRAUDULENT ACTIVITY-SUITABILITY; FRAUDULENT ACTIVITY-OTHER; ACCOUNT RELATED - FAILURE TO SUPERVISE; ACCOUNT RELATED-NEGLIGENCE Type of Securities: MUTUAL FUNDS Relief Asked: ACTUAL/COMPENSATORY DAMAGES, ASKED AMOUNT $89,000.00 JOINTLY AND SEVERALLY; PUNITIVE/EXEMPLARY DAMAGES, ASKED AMOUNT $250,000.00 JOINTLY AND SEVERALLY Disposition: AWARD AGAINST PARTY Disposition Date: 07/27/2004 Relief Awarded: ACTUAL/COMPENSATORY DAMAGES, RELIEF HAS BEEN AWARDED (PARTIAL OR FULL, AWARD AMOUNT $80,000.00; PUNITIVE/EXEMPLARY DAMAGES, RELIEF REQUEST HAS BEEN DENIED IN FULL ** BROKERAGE FIRM ARBITRATION (25 of 71) ** Type of Event: ARBITRATION Update: NO Arbitration Forum: NASD Case Served Date: 12/20/2001 Case Number: 01-06521 Allegations: FRAUDULENT ACTIVITY-MISREPRESENTATION; FRAUDULENT ACTIVITY-UNAUTHORIZED TRADING Type of Securities: COMMON STOCK Relief Asked: ACTUAL/COMPENSATORY DAMAGES, ASKED AMOUNT $2,000,000.00 JOINTLY AND SEVERALLY; PUNITIVE/EXEMPLARY DAMAGES, ASKED AMOUNT $2,000,000.00 JOINTLY AND SEVERALLY; ACTUAL/COMPENSATORY DAMAGES, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY; ACTUAL/COMPENSATORY DAMAGES, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY; ACTUAL/COMPENSATORY DAMAGES, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY Disposition: NO AWARD AGAINST PARTY Disposition Date: 06/14/2004 Relief Awarded: ACTUAL/COMPENSATORY DAMAGES, RELIEF REQUEST HAS BEEN DENIED IN FULL; PUNITIVE/EXEMPLARY DAMAGES, RELIEF REQUEST HAS BEEN DENIED IN FULL; ACTUAL/COMPENSATORY DAMAGES, RELIEF REQUEST HAS BEEN DENIED IN FULL; ACTUAL/COMPENSATORY DAMAGES, RELIEF REQUEST HAS BEEN DENIED IN FULL; ACTUAL/COMPENSATORY DAMAGES, RELIEF REQUEST HAS BEEN DENIED IN FULL 7C. RELIEF ASKED: ACTUAL/COMPENSATORY DAMAGES, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY 8A. CURRENT STATUS: NO AWARD AGAINST PARTY 8B. STATUS DATE: 06/14/2004 8C. RELIEF AWARDED: ACTUAL/COMPENSATORY DAMAGES, RELIEF REQUEST HAS BEEN DENIED IN FULL NASD BrokerCheck October 14, 2005 Page 35 This information is current as of: 10/14/2005 ________________________________________________________________________________ NASD Member Firm: RAYMOND JAMES FINANCIAL SERVICES, INC. CRD Number: 6694 BROKERAGE FIRM ARBITRATIONS(cont.) ** BROKERAGE FIRM ARBITRATION (26 of 71) ** Type of Event: ARBITRATION Update: NO Arbitration Forum: NASD Case Served Date: 06/17/2003 Case Number: 03-04284 Allegations: ACCOUNT RELATED - FAILURE TO SUPERVISE; FRAUDULENT ACTIVITY-BRCH OF FIDUCIARY DT; FRAUDULENT ACTIVITY-CHURNING; FRAUDULENT ACTIVITY-UNAUTHORIZED TRADING Type of Securities: COMMON STOCK Relief Asked: ACTUAL/COMPENSATORY DAMAGES, ASKED AMOUNT $1,020,040.00 JOINTLY AND SEVERALLY; PUNITIVE/EXEMPLARY DAMAGES, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY; INTEREST, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY; ATTORNEY'S FEES, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY; OTHER COSTS, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY; OTHER MONETARY RELIEF, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY Disposition: AWARD AGAINST PARTY Disposition Date: 05/21/2004 Relief Awarded: ACTUAL/COMPENSATORY DAMAGES, RELIEF HAS BEEN AWARDED (PARTIAL OR FULL, AWARD AMOUNT $510,000.00; PUNITIVE/EXEMPLARY DAMAGES, RELIEF REQUEST HAS BEEN DENIED IN FULL; INTEREST, RELIEF REQUEST HAS BEEN DENIED IN FULL; ATTORNEY'S FEES, RELIEF REQUEST HAS BEEN DENIED IN FULL; OTHER COSTS, RELIEF HAS BEEN AWARDED (PARTIAL OR FULL, AWARD AMOUNT $500.00; OTHER MONETARY RELIEF, RELIEF REQUEST HAS BEEN DENIED IN FULL ** BROKERAGE FIRM ARBITRATION (27 of 71) ** Type of Event: ARBITRATION Update: NO Arbitration Forum: NASD Case Served Date: 05/28/2002 Case Number: 02-02993 Allegations: ACCOUNT RELATED-NEGLIGENCE; ACCOUNT RELATED - FAILURE TO SUPERVISE; ACCOUNT RELATED-TRANSFER; FRAUDULENT ACTIVITY-BRCH OF FIDUCIARY DT Type of Securities: UNKNOWN TYPE OF SECURITIES Relief Asked: ACTUAL/COMPENSATORY DAMAGES, ASKED AMOUNT $715,802.44 JOINTLY AND SEVERALLY; INTEREST, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY; ATTORNEY'S FEES, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY; OTHER COSTS, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY; OTHER MONETARY RELIEF, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY Disposition: AWARD AGAINST PARTY Disposition Date: 05/04/2004 Relief Awarded: ACTUAL/COMPENSATORY DAMAGES, RELIEF HAS BEEN AWARDED (PARTIAL OR FULL, AWARD AMOUNT $70,893.00; INTEREST, RELIEF HAS BEEN AWARDED (PARTIAL OR FULL, AWARD AMOUNT $0.01; ATTORNEY'S FEES, RELIEF REQUEST HAS BEEN DENIED IN FULL; OTHER COSTS, RELIEF REQUEST HAS BEEN DENIED IN FULL; OTHER MONETARY RELIEF, RELIEF REQUEST HAS BEEN DENIED IN FULL ** BROKERAGE FIRM ARBITRATION (28 of 71) ** NASD BrokerCheck October 14, 2005 Page 36 This information is current as of: 10/14/2005 ________________________________________________________________________________ NASD Member Firm: RAYMOND JAMES FINANCIAL SERVICES, INC. CRD Number: 6694 BROKERAGE FIRM ARBITRATIONS(cont.) Type of Event: ARBITRATION Update: NO Arbitration Forum: NASD Case Served Date: 06/16/2003 Case Number: 03-04149 Allegations: FRAUDULENT ACTIVITY-BRCH OF FIDUCIARY DT; FRAUDULENT ACTIVITY-CHURNING; FRAUDULENT ACTIVITY-MISREPRESENTATION; FRAUDULENT ACTIVITY - OMISSION OF FACTS Type of Securities: UNKNOWN TYPE OF SECURITIES Relief Asked: ACTUAL/COMPENSATORY DAMAGES, ASKED AMOUNT $25,000.00 JOINTLY AND SEVERALLY; PUNITIVE/EXEMPLARY DAMAGES, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY; INTEREST, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY; OTHER COSTS, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY; ATTORNEY'S FEES, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY; OTHER MONETARY RELIEF, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY; ACTUAL/COMPENSATORY DAMAGES, ASKED AMOUNT $25,000.00 JOINTLY AND SEVERALLY; PUNITIVE/EXEMPLARY DAMAGES, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY; INTEREST, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY; OTHER COSTS, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY; ATTORNEY'S FEES, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY; OTHER MONETARY RELIEF, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY Disposition: AWARD AGAINST PARTY Disposition Date: 04/30/2004 Relief Awarded: ACTUAL/COMPENSATORY DAMAGES, RELIEF REQUEST HAS BEEN DENIED IN FULL; PUNITIVE/EXEMPLARY DAMAGES, RELIEF REQUEST HAS BEEN DENIED IN FULL; INTEREST, RELIEF REQUEST HAS BEEN DENIED IN FULL; OTHER COSTS, RELIEF HAS BEEN AWARDED (PARTIAL OR FULL, AWARD AMOUNT $255.00; ATTORNEY'S FEES, RELIEF HAS BEEN AWARDED (PARTIAL OR FULL, AWARD AMOUNT $2,500.00; OTHER MONETARY RELIEF, RELIEF REQUEST HAS BEEN DENIED IN FULL; ACTUAL/COMPENSATORY DAMAGES, RELIEF REQUEST HAS BEEN DENIED IN FULL; PUNITIVE/EXEMPLARY DAMAGES, RELIEF REQUEST HAS BEEN DENIED IN FULL; INTEREST, RELIEF REQUEST HAS BEEN DENIED IN FULL; OTHER COSTS, RELIEF HAS BEEN AWARDED (PARTIAL OR FULL; ATTORNEY'S FEES, RELIEF HAS BEEN AWARDED (PARTIAL OR FULL; OTHER MONETARY RELIEF, RELIEF REQUEST HAS BEEN DENIED IN FULL 7C. RELIEF ASKED: ACTUAL/COMPENSATORY DAMAGES, ASKED AMOUNT $25,000.00 SEVERALLY ; ACTUAL/COMPENSATORY DAMAGES, ASKED AMOUNT $25,000.00 SEVERALLY 8A. CURRENT STATUS: AWARD AGAINST PARTY 8B. STATUS DATE: 04/30/2004 8C. RELIEF AWARDED: ACTUAL/COMPENSATORY DAMAGES, RELIEF HAS BEEN AWARDED (PARTIAL OR FULL, AWARD AMOUNT $4,500.00; ACTUAL/COMPENSATORY DAMAGES, RELIEF HAS BEEN AWARDED (PARTIAL OR FULL ** BROKERAGE FIRM ARBITRATION (29 of 71) ** Type of Event: ARBITRATION Update: NO Arbitration Forum: NASD Case Served Date: 11/12/2002 Case Number: 02-06665 Allegations: FRAUDULENT ACTIVITY-MISREPRESENTATION; FRAUDULENT ACTIVITY - OMISSION OF FACTS; FRAUDULENT ACTIVITY-SUITABILITY; ACCOUNT RELATED - FAILURE TO SUPERVISE Type of Securities: UNKNOWN TYPE OF SECURITIES Relief Asked: ATTORNEY'S FEES, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY; OTHER MONETARY RELIEF, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY Disposition: AWARD AGAINST PARTY Disposition Date: 03/26/2004 NASD BrokerCheck October 14, 2005 Page 37 This information is current as of: 10/14/2005 ________________________________________________________________________________ NASD Member Firm: RAYMOND JAMES FINANCIAL SERVICES, INC. CRD Number: 6694 BROKERAGE FIRM ARBITRATIONS(cont.) Relief Awarded: ATTORNEY'S FEES, RELIEF REQUEST HAS BEEN DENIED IN FULL; OTHER MONETARY RELIEF, RELIEF REQUEST HAS BEEN DENIED IN FULL 7C. RELIEF ASKED: ACTUAL/COMPENSATORY DAMAGES, ASKED AMOUNT $642,373.81 JOINTLY AND SEVERALLY; INTEREST, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY; OTHER COSTS, ASKED AMOUNT $0.00 SEVERALLY 8A. CURRENT STATUS: AWARD AGAINST PARTY 8B. STATUS DATE: 03/26/2004 8C. RELIEF AWARDED: ACTUAL/COMPENSATORY DAMAGES, RELIEF HAS BEEN AWARDED (PARTIAL OR FULL, AWARD AMOUNT $72,500.00; INTEREST, RELIEF HAS BEEN AWARDED (PARTIAL OR FULL, AWARD AMOUNT $0.01; OTHER COSTS, RELIEF HAS BEEN AWARDED (PARTIAL OR FULL, AWARD AMOUNT $375.00 ** BROKERAGE FIRM ARBITRATION (30 of 71) ** Type of Event: ARBITRATION Update: NO Arbitration Forum: NASD Case Served Date: 11/05/2002 Case Number: 02-06507 Allegations: FRAUDULENT ACTIVITY-BRCH OF FIDUCIARY DT; ACCOUNT RELATED-NEGLIGENCE; FRAUDULENT ACTIVITY-SUITABILITY; ACCOUNT RELATED - FAILURE TO SUPERVISE Type of Securities: COMMON STOCK Relief Asked: ACTUAL/COMPENSATORY DAMAGES, ASKED AMOUNT $329,018.00 JOINTLY AND SEVERALLY; PUNITIVE/EXEMPLARY DAMAGES, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY; ATTORNEY'S FEES, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY; OTHER COSTS, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY; INTEREST, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY; OTHER MONETARY RELIEF, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY; ACTUAL/COMPENSATORY DAMAGES, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY; ACTUAL/COMPENSATORY DAMAGES, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY Disposition: AWARD AGAINST PARTY Disposition Date: 03/02/2004 Relief Awarded: ACTUAL/COMPENSATORY DAMAGES, RELIEF HAS BEEN AWARDED (PARTIAL OR FULL, AWARD AMOUNT $35,803.05; PUNITIVE/EXEMPLARY DAMAGES, RELIEF REQUEST HAS BEEN DENIED IN FULL; ATTORNEY'S FEES, RELIEF REQUEST HAS BEEN DENIED IN FULL; OTHER COSTS, RELIEF REQUEST HAS BEEN DENIED IN FULL; INTEREST, RELIEF REQUEST HAS BEEN DENIED IN FULL; OTHER MONETARY RELIEF, RELIEF REQUEST HAS BEEN DENIED IN FULL; ACTUAL/COMPENSATORY DAMAGES, RELIEF HAS BEEN AWARDED (PARTIAL OR FULL, AWARD AMOUNT $19,152.27; ACTUAL/COMPENSATORY DAMAGES, RELIEF HAS BEEN AWARDED (PARTIAL OR FULL, AWARD AMOUNT $16,322.04 ** BROKERAGE FIRM ARBITRATION (31 of 71) ** Type of Event: ARBITRATION Update: NO Arbitration Forum: NASD Case Served Date: 03/21/2002 Case Number: 02-01343 Allegations: FRAUDULENT ACTIVITY-BRCH OF FIDUCIARY DT; FRAUDULENT ACTIVITY-MISREPRESENTATION; FRAUDULENT ACTIVITY-UNAUTHORIZED TRADING; FRAUDULENT ACTIVITY-CHURNING Type of Securities: COMMON STOCK;OPTIONS Relief Asked: ACTUAL/COMPENSATORY DAMAGES, ASKED AMOUNT $464,264.62 JOINTLY AND SEVERALLY; PUNITIVE/EXEMPLARY DAMAGES, ASKED AMOUNT $1,392,793.80 JOINTLY AND SEVERALLY; INTEREST, ASKED AMOUNT $59,580.62 JOINTLY AND SEVERALLY; OTHER COSTS, ASKED AMOUNT $1,700.00 JOINTLY NASD BrokerCheck October 14, 2005 Page 38 This information is current as of: 10/14/2005 ________________________________________________________________________________ NASD Member Firm: RAYMOND JAMES FINANCIAL SERVICES, INC. CRD Number: 6694 BROKERAGE FIRM ARBITRATIONS(cont.) AND SEVERALLY; ATTORNEY'S FEES, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY; OTHER MONETARY RELIEF, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY Disposition: NO AWARD AGAINST PARTY Disposition Date: 03/01/2004 Relief Awarded: ACTUAL/COMPENSATORY DAMAGES, RELIEF REQUEST HAS BEEN DENIED IN FULL; PUNITIVE/EXEMPLARY DAMAGES, RELIEF REQUEST HAS BEEN DENIED IN FULL; INTEREST, RELIEF REQUEST HAS BEEN DENIED IN FULL; OTHER COSTS, RELIEF REQUEST HAS BEEN DENIED IN FULL; ATTORNEY'S FEES, RELIEF REQUEST HAS BEEN DENIED IN FULL; OTHER MONETARY RELIEF, RELIEF REQUEST HAS BEEN DENIED IN FULL ** BROKERAGE FIRM ARBITRATION (32 of 71) ** Type of Event: ARBITRATION Update: NO Arbitration Forum: NASD Case Served Date: 09/12/2002 Case Number: 02-05272 Allegations: FRAUDULENT ACTIVITY-BRCH OF FIDUCIARY DT; FRAUDULENT ACTIVITY-SUITABILITY; ACCOUNT RELATED - FAILURE TO SUPERVISE Type of Securities: COMMON STOCK Relief Asked: ACTUAL/COMPENSATORY DAMAGES, ASKED AMOUNT $143,000.00 JOINTLY AND SEVERALLY; OTHER COSTS, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY; ATTORNEY'S FEES, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY; OTHER MONETARY RELIEF, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY Disposition: NO AWARD AGAINST PARTY Disposition Date: 11/03/2003 Relief Awarded: ACTUAL/COMPENSATORY DAMAGES, RELIEF REQUEST HAS BEEN DENIED IN FULL; OTHER COSTS, RELIEF REQUEST HAS BEEN DENIED IN FULL; ATTORNEY'S FEES, RELIEF REQUEST HAS BEEN DENIED IN FULL; OTHER MONETARY RELIEF, RELIEF REQUEST HAS BEEN DENIED IN FULL ** BROKERAGE FIRM ARBITRATION (33 of 71) ** Type of Event: ARBITRATION Update: NO Arbitration Forum: NASD Case Served Date: 12/13/2001 Case Number: 01-06680 Allegations: FRAUDULENT ACTIVITY-SUITABILITY; FRAUDULENT ACTIVITY-BRCH OF FIDUCIARY DT; FRAUDULENT ACTIVITY-MISREPRESENTATION; ACCOUNT RELATED-NEGLIGENCE Type of Securities: UNKNOWN TYPE OF SECURITIES Relief Asked: ACTUAL/COMPENSATORY DAMAGES, ASKED AMOUNT $171,710.00 JOINTLY AND SEVERALLY; PUNITIVE/EXEMPLARY DAMAGES, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY; ATTORNEY'S FEES, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY; OTHER COSTS, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY; OTHER MONETARY RELIEF, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY Disposition: AWARD AGAINST PARTY Disposition Date: 10/02/2003 Relief Awarded: ACTUAL/COMPENSATORY DAMAGES, RELIEF HAS BEEN AWARDED (PARTIAL OR FULL, AWARD AMOUNT $90,000.00; PUNITIVE/EXEMPLARY DAMAGES, RELIEF REQUEST HAS BEEN DENIED IN FULL; ATTORNEY'S FEES, RELIEF REQUEST HAS NASD BrokerCheck October 14, 2005 Page 39 This information is current as of: 10/14/2005 ________________________________________________________________________________ NASD Member Firm: RAYMOND JAMES FINANCIAL SERVICES, INC. CRD Number: 6694 BROKERAGE FIRM ARBITRATIONS(cont.) BEEN DENIED IN FULL; OTHER COSTS, RELIEF REQUEST HAS BEEN DENIED IN FULL; OTHER MONETARY RELIEF, RELIEF REQUEST HAS BEEN DENIED IN FULL ** BROKERAGE FIRM ARBITRATION (34 of 71) ** Type of Event: ARBITRATION Update: NO Arbitration Forum: NASD Case Served Date: 10/11/2002 Case Number: 02-05851 Allegations: FRAUDULENT ACTIVITY-SUITABILITY; FRAUDULENT ACTIVITY-BRCH OF FIDUCIARY DT; FRAUDULENT ACTIVITY-MISREPRESENTATION; FRAUDULENT ACTIVITY - OMISSION OF FACTS Type of Securities: COMMON STOCK;MUTUAL FUNDS Relief Asked: ACTUAL/COMPENSATORY DAMAGES, ASKED AMOUNT $217,000.00 SEVERALLY ; ACTUAL/COMPENSATORY DAMAGES, ASKED AMOUNT $0.00 SEVERALLY ; ACTUAL/COMPENSATORY DAMAGES, ASKED AMOUNT $0.00 SEVERALLY ; ACTUAL/COMPENSATORY DAMAGES, ASKED AMOUNT $0.00 SEVERALLY ; ACTUAL/COMPENSATORY DAMAGES, ASKED AMOUNT $0.00 SEVERALLY ; PUNITIVE/EXEMPLARY DAMAGES, ASKED AMOUNT $0.00 SEVERALLY ; PUNITIVE/EXEMPLARY DAMAGES, ASKED AMOUNT $0.00 SEVERALLY ; PUNITIVE/EXEMPLARY DAMAGES, ASKED AMOUNT $0.00 SEVERALLY ; PUNITIVE/EXEMPLARY DAMAGES, ASKED AMOUNT $0.00 SEVERALLY ; PUNITIVE/EXEMPLARY DAMAGES, ASKED AMOUNT $0.00 SEVERALLY ; OTHER COSTS, ASKED AMOUNT $0.00 SEVERALLY ; OTHER COSTS, ASKED AMOUNT $0.00 SEVERALLY ; OTHER COSTS, ASKED AMOUNT $0.00 SEVERALLY ; OTHER COSTS, ASKED AMOUNT $0.00 SEVERALLY ; OTHER COSTS, ASKED AMOUNT $0.00 SEVERALLY ; INTEREST, ASKED AMOUNT $0.00 SEVERALLY ; INTEREST, ASKED AMOUNT $0.00 SEVERALLY ; INTEREST, ASKED AMOUNT $0.00 SEVERALLY ; INTEREST, ASKED AMOUNT $0.00 SEVERALLY ; INTEREST, ASKED AMOUNT $0.00 SEVERALLY ; OTHER MONETARY RELIEF, ASKED AMOUNT $0.00 SEVERALLY ; OTHER MONETARY RELIEF, ASKED AMOUNT $0.00 SEVERALLY ; OTHER MONETARY RELIEF, ASKED AMOUNT $0.00 SEVERALLY ; OTHER MONETARY RELIEF, ASKED AMOUNT $0.00 SEVERALLY ; OTHER MONETARY RELIEF, ASKED AMOUNT $0.00 SEVERALLY Disposition: NO AWARD AGAINST PARTY Disposition Date: 08/25/2003 Relief Awarded: ACTUAL/COMPENSATORY DAMAGES, RELIEF REQUEST HAS BEEN DENIED IN FULL; ACTUAL/COMPENSATORY DAMAGES, RELIEF REQUEST HAS BEEN DENIED IN FULL; ACTUAL/COMPENSATORY DAMAGES, RELIEF REQUEST HAS BEEN DENIED IN FULL; ACTUAL/COMPENSATORY DAMAGES, RELIEF REQUEST HAS BEEN DENIED IN FULL; ACTUAL/COMPENSATORY DAMAGES, RELIEF REQUEST HAS BEEN DENIED IN FULL; PUNITIVE/EXEMPLARY DAMAGES, RELIEF REQUEST HAS BEEN DENIED IN FULL; PUNITIVE/EXEMPLARY DAMAGES, RELIEF REQUEST HAS BEEN DENIED IN FULL; PUNITIVE/EXEMPLARY DAMAGES, RELIEF REQUEST HAS BEEN DENIED IN FULL; PUNITIVE/EXEMPLARY DAMAGES, RELIEF REQUEST HAS BEEN DENIED IN FULL; PUNITIVE/EXEMPLARY DAMAGES, RELIEF REQUEST HAS BEEN DENIED IN FULL; OTHER COSTS, RELIEF REQUEST HAS BEEN DENIED IN FULL; OTHER COSTS, RELIEF REQUEST HAS BEEN DENIED IN FULL; OTHER COSTS, RELIEF REQUEST HAS BEEN DENIED IN FULL; OTHER COSTS, RELIEF REQUEST HAS BEEN DENIED IN FULL; OTHER COSTS, RELIEF REQUEST HAS BEEN DENIED IN FULL; INTEREST, RELIEF REQUEST HAS BEEN DENIED IN FULL; INTEREST, RELIEF REQUEST HAS BEEN DENIED IN FULL; INTEREST, RELIEF REQUEST HAS BEEN DENIED IN FULL; INTEREST, RELIEF REQUEST HAS BEEN DENIED IN FULL; INTEREST, RELIEF REQUEST HAS BEEN DENIED IN FULL; OTHER MONETARY RELIEF, RELIEF REQUEST HAS BEEN DENIED IN FULL; OTHER MONETARY RELIEF, RELIEF REQUEST HAS BEEN DENIED IN FULL; OTHER MONETARY RELIEF, RELIEF REQUEST HAS BEEN DENIED IN FULL; OTHER MONETARY RELIEF, RELIEF REQUEST HAS BEEN DENIED IN FULL; OTHER MONETARY RELIEF, RELIEF REQUEST HAS BEEN DENIED IN FULL ** BROKERAGE FIRM ARBITRATION (35 of 71) ** NASD BrokerCheck October 14, 2005 Page 40 This information is current as of: 10/14/2005 ________________________________________________________________________________ NASD Member Firm: RAYMOND JAMES FINANCIAL SERVICES, INC. CRD Number: 6694 BROKERAGE FIRM ARBITRATIONS(cont.) Type of Event: ARBITRATION Update: NO Arbitration Forum: NASD Case Served Date: 04/29/2002 Case Number: 02-02012 Allegations: UNKNOWN TYPE OF CONTROVERSY Type of Securities: UNKNOWN TYPE OF SECURITIES Relief Asked: ACTUAL/COMPENSATORY DAMAGES, ASKED AMOUNT $100,000.00 SEVERALLY ; INTEREST, ASKED AMOUNT $0.00 SEVERALLY Disposition: NO AWARD AGAINST PARTY Disposition Date: 07/30/2003 Relief Awarded: ACTUAL/COMPENSATORY DAMAGES, RELIEF REQUEST HAS BEEN DENIED IN FULL; INTEREST, RELIEF REQUEST HAS BEEN DENIED IN FULL ** BROKERAGE FIRM ARBITRATION (36 of 71) ** Type of Event: ARBITRATION Update: NO Arbitration Forum: NASD Case Served Date: 04/29/2002 Case Number: 02-01960 Allegations: FRAUDULENT ACTIVITY-BRCH OF FIDUCIARY DT; FRAUDULENT ACTIVITY-MISREPRESENTATION; FRAUDULENT ACTIVITY-UNAUTHORIZED TRADING; FRAUDULENT ACTIVITY-CHURNING Type of Securities: COMMON STOCK;MUTUAL FUNDS;OPTIONS Relief Asked: ACTUAL/COMPENSATORY DAMAGES, ASKED AMOUNT $700,000.00 JOINTLY AND SEVERALLY; ACTUAL/COMPENSATORY DAMAGES, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY; ACTUAL/COMPENSATORY DAMAGES, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY; ACTUAL/COMPENSATORY DAMAGES, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY; PUNITIVE/EXEMPLARY DAMAGES, ASKED AMOUNT $299,000.00 JOINTLY AND SEVERALLY; PUNITIVE/EXEMPLARY DAMAGES, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY; PUNITIVE/EXEMPLARY DAMAGES, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY; PUNITIVE/EXEMPLARY DAMAGES, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY; INTEREST, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY; INTEREST, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY; INTEREST, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY; INTEREST, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY; OTHER COSTS, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY; OTHER COSTS, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY; OTHER COSTS, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY; OTHER COSTS, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY; ATTORNEY'S FEES, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY; ATTORNEY'S FEES, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY; ATTORNEY'S FEES, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY; ATTORNEY'S FEES, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY; OTHER MONETARY RELIEF, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY; OTHER MONETARY RELIEF, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY; OTHER MONETARY RELIEF, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY; OTHER MONETARY RELIEF, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY Disposition: AWARD AGAINST PARTY Disposition Date: 07/29/2003 Relief Awarded: ACTUAL/COMPENSATORY DAMAGES, RELIEF HAS BEEN AWARDED (PARTIAL OR FULL, AWARD AMOUNT $30,500.00; ACTUAL/COMPENSATORY DAMAGES, RELIEF HAS BEEN AWARDED (PARTIAL OR FULL; ACTUAL/COMPENSATORY DAMAGES, RELIEF HAS BEEN AWARDED (PARTIAL OR FULL; ACTUAL/COMPENSATORY DAMAGES, RELIEF HAS BEEN AWARDED (PARTIAL OR FULL; PUNITIVE/EXEMPLARY DAMAGES, RELIEF REQUEST HAS BEEN NASD BrokerCheck October 14, 2005 Page 41 This information is current as of: 10/14/2005 ________________________________________________________________________________ NASD Member Firm: RAYMOND JAMES FINANCIAL SERVICES, INC. CRD Number: 6694 BROKERAGE FIRM ARBITRATIONS(cont.) DENIED IN FULL; PUNITIVE/EXEMPLARY DAMAGES, RELIEF REQUEST HAS BEEN DENIED IN FULL; PUNITIVE/EXEMPLARY DAMAGES, RELIEF REQUEST HAS BEEN DENIED IN FULL; PUNITIVE/EXEMPLARY DAMAGES, RELIEF REQUEST HAS BEEN DENIED IN FULL; INTEREST, RELIEF REQUEST HAS BEEN DENIED IN FULL; INTEREST, RELIEF REQUEST HAS BEEN DENIED IN FULL; INTEREST, RELIEF REQUEST HAS BEEN DENIED IN FULL; INTEREST, RELIEF REQUEST HAS BEEN DENIED IN FULL; OTHER COSTS, RELIEF HAS BEEN AWARDED (PARTIAL OR FULL, AWARD AMOUNT $375.00; OTHER COSTS, RELIEF HAS BEEN AWARDED (PARTIAL OR FULL; OTHER COSTS, RELIEF HAS BEEN AWARDED (PARTIAL OR FULL; OTHER COSTS, RELIEF HAS BEEN AWARDED (PARTIAL OR FULL; ATTORNEY'S FEES, RELIEF REQUEST HAS BEEN DENIED IN FULL; ATTORNEY'S FEES, RELIEF REQUEST HAS BEEN DENIED IN FULL; ATTORNEY'S FEES, RELIEF REQUEST HAS BEEN DENIED IN FULL; ATTORNEY'S FEES, RELIEF REQUEST HAS BEEN DENIED IN FULL; OTHER MONETARY RELIEF, RELIEF REQUEST HAS BEEN DENIED IN FULL; OTHER MONETARY RELIEF, RELIEF REQUEST HAS BEEN DENIED IN FULL; OTHER MONETARY RELIEF, RELIEF REQUEST HAS BEEN DENIED IN FULL; OTHER MONETARY RELIEF, RELIEF REQUEST HAS BEEN DENIED IN FULL ** BROKERAGE FIRM ARBITRATION (37 of 71) ** Type of Event: ARBITRATION Update: NO Arbitration Forum: NASD Case Served Date: 05/22/2002 Case Number: 02-02769 Allegations: ACCOUNT RELATED-ERRORS-CHARGES; ACCOUNT RELATED - FAILURE TO SUPERVISE; FRAUDULENT ACTIVITY-BRCH OF FIDUCIARY DT; FRAUDULENT ACTIVITY-MISREPRESENTATION Type of Securities: ANNUITIES;COMMON STOCK;MUTUAL FUNDS;OPTIONS Relief Asked: ACTUAL/COMPENSATORY DAMAGES, ASKED AMOUNT $100,000.00 JOINTLY AND SEVERALLY; PUNITIVE/EXEMPLARY DAMAGES, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY; INTEREST, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY; OTHER COSTS, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY; ATTORNEY'S FEES, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY; OTHER MONETARY RELIEF, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY; ACTUAL/COMPENSATORY DAMAGES, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY; PUNITIVE/EXEMPLARY DAMAGES, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY; INTEREST, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY; OTHER COSTS, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY; ATTORNEY'S FEES, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY; OTHER MONETARY RELIEF, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY Disposition: AWARD AGAINST PARTY Disposition Date: 06/16/2003 Relief Awarded: ACTUAL/COMPENSATORY DAMAGES, RELIEF REQUEST HAS BEEN DENIED IN FULL; PUNITIVE/EXEMPLARY DAMAGES, RELIEF REQUEST HAS BEEN DENIED IN FULL; INTEREST, RELIEF REQUEST HAS BEEN DENIED IN FULL; OTHER COSTS, RELIEF REQUEST HAS BEEN DENIED IN FULL; ATTORNEY'S FEES, RELIEF REQUEST HAS BEEN DENIED IN FULL; OTHER MONETARY RELIEF, RELIEF REQUEST HAS BEEN DENIED IN FULL; ACTUAL/COMPENSATORY DAMAGES, RELIEF REQUEST HAS BEEN DENIED IN FULL; PUNITIVE/EXEMPLARY DAMAGES, RELIEF REQUEST HAS BEEN DENIED IN FULL; INTEREST, RELIEF REQUEST HAS BEEN DENIED IN FULL; OTHER COSTS, RELIEF REQUEST HAS BEEN DENIED IN FULL; ATTORNEY'S FEES, RELIEF REQUEST HAS BEEN DENIED IN FULL; OTHER MONETARY RELIEF, RELIEF REQUEST HAS BEEN DENIED IN FULL 7C. RELIEF ASKED: OTHER NON-MONETARY RELIEF, ASKED AMOUNT SEVERALLY 8A. CURRENT STATUS: AWARD AGAINST PARTY 8B. STATUS DATE: 06/16/2003 8C. RELIEF AWARDED: OTHER NON-MONETARY RELIEF, RELIEF HAS BEEN AWARDED (PARTIAL OR FULL, AWARD AMOUNT ** BROKERAGE FIRM ARBITRATION (38 of 71) ** Type of Event: ARBITRATION NASD BrokerCheck October 14, 2005 Page 42 This information is current as of: 10/14/2005 ________________________________________________________________________________ NASD Member Firm: RAYMOND JAMES FINANCIAL SERVICES, INC. CRD Number: 6694 BROKERAGE FIRM ARBITRATIONS(cont.) Update: NO Arbitration Forum: NASD Case Served Date: 11/13/2002 Case Number: 02-06300 Allegations: FRAUDULENT ACTIVITY-SUITABILITY; ACCOUNT RELATED-NEGLIGENCE; FRAUDULENT ACTIVITY-BRCH OF FIDUCIARY DT; FRAUDULENT ACTIVITY-UNAUTHORIZED TRADING Type of Securities: COMMON STOCK Relief Asked: ACTUAL/COMPENSATORY DAMAGES, ASKED AMOUNT $25,000.00 JOINTLY AND SEVERALLY; OTHER COSTS, ASKED AMOUNT $425.00 JOINTLY AND SEVERALLY; OTHER MONETARY RELIEF, ASKED AMOUNT $1,230.00 JOINTLY AND SEVERALLY Disposition: AWARD AGAINST PARTY Disposition Date: 03/25/2003 Relief Awarded: ACTUAL/COMPENSATORY DAMAGES, RELIEF HAS BEEN AWARDED (PARTIAL OR FULL, AWARD AMOUNT $6,000.00; OTHER COSTS, RELIEF HAS BEEN AWARDED (PARTIAL OR FULL, AWARD AMOUNT $212.50; OTHER MONETARY RELIEF, RELIEF REQUEST HAS BEEN DENIED IN FULL ** BROKERAGE FIRM ARBITRATION (39 of 71) ** Type of Event: ARBITRATION Update: NO Arbitration Forum: NASD Case Served Date: 02/21/2002 Case Number: 02-00914 Allegations: ACCOUNT RELATED - FAILURE TO SUPERVISE; FRAUDULENT ACTIVITY-BRCH OF FIDUCIARY DT; FRAUDULENT ACTIVITY-SUITABILITY Type of Securities: COMMON STOCK Relief Asked: ACTUAL/COMPENSATORY DAMAGES, ASKED AMOUNT $200,000.00 JOINTLY AND SEVERALLY; PUNITIVE/EXEMPLARY DAMAGES, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY; INTEREST, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY; ATTORNEY'S FEES, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY; OTHER COSTS, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY; OTHER MONETARY RELIEF, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY Disposition: AWARD AGAINST PARTY Disposition Date: 03/13/2003 Relief Awarded: ACTUAL/COMPENSATORY DAMAGES, RELIEF HAS BEEN AWARDED (PARTIAL OR FULL, AWARD AMOUNT $154,223.00; PUNITIVE/EXEMPLARY DAMAGES, RELIEF REQUEST HAS BEEN DENIED IN FULL; INTEREST, RELIEF HAS BEEN AWARDED (PARTIAL OR FULL; ATTORNEY'S FEES, RELIEF HAS BEEN AWARDED (PARTIAL OR FULL, AWARD AMOUNT $29,730.00; OTHER COSTS, RELIEF HAS BEEN AWARDED (PARTIAL OR FULL, AWARD AMOUNT $4,600.00; OTHER MONETARY RELIEF, RELIEF HAS BEEN AWARDED (PARTIAL OR FULL ** BROKERAGE FIRM ARBITRATION (40 of 71) ** Type of Event: ARBITRATION Update: NO Arbitration Forum: NASD Case Served Date: 11/19/2001 Case Number: 01-04996 Allegations: FRAUDULENT ACTIVITY-SUITABILITY; FRAUDULENT NASD BrokerCheck October 14, 2005 Page 43 This information is current as of: 10/14/2005 ________________________________________________________________________________ NASD Member Firm: RAYMOND JAMES FINANCIAL SERVICES, INC. CRD Number: 6694 BROKERAGE FIRM ARBITRATIONS(cont.) ACTIVITY-CHURNING; ACCOUNT RELATED-BREACH OF CONTRACT; FRAUDULENT ACTIVITY-BRCH OF FIDUCIARY DT Type of Securities: COMMON STOCK ** BROKERAGE FIRM ARBITRATION (41 of 71) ** Type of Event: ARBITRATION Update: NO Arbitration Forum: NASD Case Served Date: 12/31/2001 Case Number: 01-03776 Allegations: ACCOUNT RELATED - FAILURE TO SUPERVISE; ACCOUNT RELATED-NEGLIGENCE Type of Securities: UNKNOWN TYPE OF SECURITIES Relief Asked: ACTUAL/COMPENSATORY DAMAGES, ASKED AMOUNT $100,000.00 JOINTLY AND SEVERALLY; ATTORNEY'S FEES, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY; OTHER COSTS, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY; OTHER MONETARY RELIEF, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY Disposition: AWARD AGAINST PARTY Disposition Date: 11/18/2002 Relief Awarded: ACTUAL/COMPENSATORY DAMAGES, RELIEF REQUEST HAS BEEN DENIED IN FULL; ATTORNEY'S FEES, RELIEF REQUEST HAS BEEN DENIED IN FULL; OTHER COSTS, RELIEF REQUEST HAS BEEN DENIED IN FULL; OTHER MONETARY RELIEF, RELIEF REQUEST HAS BEEN DENIED IN FULL 7C. RELIEF ASKED: ACTUAL/COMPENSATORY DAMAGES, ASKED AMOUNT $0.00 SEVERALLY 8A. CURRENT STATUS: AWARD AGAINST PARTY 8B. STATUS DATE: 11/18/2002 8C. RELIEF AWARDED: ACTUAL/COMPENSATORY DAMAGES, RELIEF HAS BEEN AWARDED (PARTIAL OR FULL, AWARD AMOUNT $17,500.00 ** BROKERAGE FIRM ARBITRATION (42 of 71) ** Type of Event: ARBITRATION Update: NO Arbitration Forum: NASD Case Served Date: 10/02/2001 Case Number: 01-04334 Allegations: FRAUDULENT ACTIVITY-BRCH OF FIDUCIARY DT; FRAUDULENT ACTIVITY-MISREPRESENTATION; FRAUDULENT ACTIVITY-UNAUTHORIZED TRADING; FRAUDULENT ACTIVITY-CHURNING Type of Securities: COMMON STOCK;MUTUAL FUNDS;OPTIONS Relief Asked: ACTUAL/COMPENSATORY DAMAGES, ASKED AMOUNT $91,310.18 JOINTLY AND SEVERALLY; PUNITIVE/EXEMPLARY DAMAGES, ASKED AMOUNT $250,000.00 JOINTLY AND SEVERALLY; ATTORNEY'S FEES, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY; OTHER COSTS, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY; ACTUAL/COMPENSATORY DAMAGES, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY Disposition: AWARD AGAINST PARTY Disposition Date: 11/15/2002 Relief Awarded: ACTUAL/COMPENSATORY DAMAGES, RELIEF HAS BEEN AWARDED (PARTIAL OR FULL, AWARD AMOUNT $47,036.63; PUNITIVE/EXEMPLARY DAMAGES, RELIEF REQUEST HAS BEEN DENIED IN FULL; ATTORNEY'S FEES, RELIEF REQUEST HAS BEEN DENIED IN FULL; OTHER COSTS, RELIEF HAS BEEN AWARDED (PARTIAL OR FULL, AWARD AMOUNT $300.00; ACTUAL/COMPENSATORY DAMAGES, RELIEF REQUEST HAS BEEN DENIED IN FULL NASD BrokerCheck October 14, 2005 Page 44 This information is current as of: 10/14/2005 ________________________________________________________________________________ NASD Member Firm: RAYMOND JAMES FINANCIAL SERVICES, INC. CRD Number: 6694 BROKERAGE FIRM ARBITRATIONS(cont.) ** BROKERAGE FIRM ARBITRATION (43 of 71) ** Type of Event: ARBITRATION Update: YES Arbitration Forum: NASD Case Served Date: 01/17/2001 Case Number: 00-05682 Allegations: FRAUDULENT ACTIVITY-UNAUTHORIZED TRADING; FRAUDULENT ACTIVITY-SUITABILITY; FRAUDULENT ACTIVITY-CHURNING; FRAUDULENT ACTIVITY-BRCH OF FIDUCIARY DT Type of Securities: COMMON STOCK Relief Asked: ACTUAL/COMPENSATORY DAMAGES, ASKED AMOUNT $708,531.00 JOINTLY AND SEVERALLY; ATTORNEY'S FEES, ASKED AMOUNT $56,070.68 JOINTLY AND SEVERALLY; INTEREST, ASKED AMOUNT $133,036.59 JOINTLY AND SEVERALLY; PUNITIVE/EXEMPLARY DAMAGES, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY; ACTUAL/COMPENSATORY DAMAGES, ASKED AMOUNT $3,876.00 JOINTLY AND SEVERALLY; ACTUAL/COMPENSATORY DAMAGES, ASKED AMOUNT $293.11 JOINTLY AND SEVERALLY Disposition: AWARD AGAINST PARTY Disposition Date: 08/05/2002 Relief Awarded: ACTUAL/COMPENSATORY DAMAGES, RELIEF REQUEST HAS BEEN DENIED IN FULL; ATTORNEY'S FEES, RELIEF REQUEST HAS BEEN DENIED IN FULL; INTEREST, RELIEF REQUEST HAS BEEN DENIED IN FULL; PUNITIVE/EXEMPLARY DAMAGES, RELIEF REQUEST HAS BEEN DENIED IN FULL; ACTUAL/COMPENSATORY DAMAGES, RELIEF REQUEST HAS BEEN DENIED IN FULL; ACTUAL/COMPENSATORY DAMAGES, RELIEF REQUEST HAS BEEN DENIED IN FULL 7C. RELIEF ASKED: ACTUAL/COMPENSATORY DAMAGES, ASKED AMOUNT $0.00 SEVERALLY ; ATTORNEY'S FEES, ASKED AMOUNT $0.00 SEVERALLY ; OTHER COSTS, ASKED AMOUNT $0.00 SEVERALLY ; OTHER COSTS, ASKED AMOUNT $0.00 SEVERALLY ; INTEREST, ASKED AMOUNT $0.00 SEVERALLY 8A. CURRENT STATUS: AWARD AGAINST PARTY 8B. STATUS DATE: 08/05/2002 8C. RELIEF AWARDED: ACTUAL/COMPENSATORY DAMAGES, RELIEF HAS BEEN AWARDED (PARTIAL OR FULL, AWARD AMOUNT $337,744.30; ATTORNEY'S FEES, RELIEF HAS BEEN AWARDED (PARTIAL OR FULL, AWARD AMOUNT $50,000.00; OTHER COSTS, RELIEF HAS BEEN AWARDED (PARTIAL OR FULL, AWARD AMOUNT $12,500.00; OTHER COSTS, RELIEF HAS BEEN AWARDED (PARTIAL OR FULL, AWARD AMOUNT $375.00; INTEREST, RELIEF HAS BEEN AWARDED (PARTIAL OR FULL, AWARD AMOUNT $0.01 ** BROKERAGE FIRM ARBITRATION (44 of 71) ** Type of Event: ARBITRATION Update: NO Arbitration Forum: NASD Case Served Date: 09/06/2001 Case Number: 01-04715 Allegations: ACCOUNT RELATED-NEGLIGENCE; FRAUDULENT ACTIVITY-BRCH OF FIDUCIARY DT; FRAUDULENT ACTIVITY-MISREPRESENTATION; FRAUDULENT ACTIVITY-SUITABILITY Type of Securities: COMMON STOCK;OTHER TYPES OF SECURITIES Relief Asked: ACTUAL/COMPENSATORY DAMAGES, ASKED AMOUNT $33,613.21 JOINTLY AND SEVERALLY; PUNITIVE/EXEMPLARY DAMAGES, ASKED AMOUNT $16,386.79 JOINTLY AND SEVERALLY; INTEREST, ASKED AMOUNT $9,540.93 JOINTLY AND SEVERALLY; ATTORNEY'S FEES, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY; OTHER COSTS, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY; OTHER MONETARY RELIEF, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY Disposition: AWARD AGAINST PARTY NASD BrokerCheck October 14, 2005 Page 45 This information is current as of: 10/14/2005 ________________________________________________________________________________ NASD Member Firm: RAYMOND JAMES FINANCIAL SERVICES, INC. CRD Number: 6694 BROKERAGE FIRM ARBITRATIONS(cont.) Disposition Date: 07/29/2002 Relief Awarded: ACTUAL/COMPENSATORY DAMAGES, RELIEF HAS BEEN AWARDED (PARTIAL OR FULL, AWARD AMOUNT $33,613.21; PUNITIVE/EXEMPLARY DAMAGES, RELIEF REQUEST HAS BEEN DENIED IN FULL; INTEREST, RELIEF HAS BEEN AWARDED (PARTIAL OR FULL, AWARD AMOUNT $3,386.79; ATTORNEY'S FEES, RELIEF HAS BEEN AWARDED (PARTIAL OR FULL, AWARD AMOUNT $6,000.00; OTHER COSTS, RELIEF REQUEST HAS BEEN DENIED IN FULL; OTHER MONETARY RELIEF, RELIEF REQUEST HAS BEEN DENIED IN FULL ** BROKERAGE FIRM ARBITRATION (45 of 71) ** Type of Event: ARBITRATION Update: NO Arbitration Forum: NASD Case Served Date: 04/03/2002 Case Number: 02-01855 Allegations: ACCOUNT RELATED - FAILURE TO SUPERVISE; EXECUTIONS-INCORRECT QUANTITY; FRAUDULENT ACTIVITY-SUITABILITY Type of Securities: COMMON STOCK Relief Asked: ACTUAL/COMPENSATORY DAMAGES, ASKED AMOUNT $9,600.00 JOINTLY AND SEVERALLY; OTHER MONETARY RELIEF, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY Disposition: NO AWARD AGAINST PARTY Disposition Date: 07/29/2002 Relief Awarded: ACTUAL/COMPENSATORY DAMAGES, RELIEF REQUEST HAS BEEN DENIED IN FULL; OTHER MONETARY RELIEF, RELIEF REQUEST HAS BEEN DENIED IN FULL ** BROKERAGE FIRM ARBITRATION (46 of 71) ** Type of Event: ARBITRATION Update: NO Arbitration Forum: NASD Case Served Date: 06/13/2001 Case Number: 01-02326 Allegations: FRAUDULENT ACTIVITY-BRCH OF FIDUCIARY DT; FRAUDULENT ACTIVITY-MISREPRESENTATION; FRAUDULENT ACTIVITY-UNAUTHORIZED TRADING; FRAUDULENT ACTIVITY-CHURNING Type of Securities: COMMON STOCK Relief Asked: ACTUAL/COMPENSATORY DAMAGES, ASKED AMOUNT $400,000.00 JOINTLY AND SEVERALLY; ACTUAL/COMPENSATORY DAMAGES, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY; INTEREST, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY; INTEREST, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY; OTHER COSTS, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY; OTHER COSTS, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY; ATTORNEY'S FEES, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY; ATTORNEY'S FEES, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY; PUNITIVE/EXEMPLARY DAMAGES, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY; PUNITIVE/EXEMPLARY DAMAGES, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY; OTHER MONETARY RELIEF, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY; OTHER MONETARY RELIEF, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY; SPECIFIC PERFORMANCE, ASKED AMOUNT JOINTLY AND SEVERALLY; SPECIFIC PERFORMANCE, ASKED AMOUNT JOINTLY AND SEVERALLY Disposition: NO AWARD AGAINST PARTY Disposition Date: 06/06/2002 Relief Awarded: ACTUAL/COMPENSATORY DAMAGES, RELIEF REQUEST HAS BEEN NASD BrokerCheck October 14, 2005 Page 46 This information is current as of: 10/14/2005 ________________________________________________________________________________ NASD Member Firm: RAYMOND JAMES FINANCIAL SERVICES, INC. CRD Number: 6694 BROKERAGE FIRM ARBITRATIONS(cont.) DENIED IN FULL; ACTUAL/COMPENSATORY DAMAGES, RELIEF REQUEST HAS BEEN DENIED IN FULL; INTEREST, RELIEF REQUEST HAS BEEN DENIED IN FULL; INTEREST, RELIEF REQUEST HAS BEEN DENIED IN FULL; OTHER COSTS, RELIEF REQUEST HAS BEEN DENIED IN FULL; OTHER COSTS, RELIEF REQUEST HAS BEEN DENIED IN FULL; ATTORNEY'S FEES, RELIEF REQUEST HAS BEEN DENIED IN FULL; ATTORNEY'S FEES, RELIEF REQUEST HAS BEEN DENIED IN FULL; PUNITIVE/EXEMPLARY DAMAGES, RELIEF REQUEST HAS BEEN DENIED IN FULL; PUNITIVE/EXEMPLARY DAMAGES, RELIEF REQUEST HAS BEEN DENIED IN FULL; OTHER MONETARY RELIEF, RELIEF REQUEST HAS BEEN DENIED IN FULL; OTHER MONETARY RELIEF, RELIEF REQUEST HAS BEEN DENIED IN FULL; SPECIFIC PERFORMANCE, RELIEF REQUEST HAS BEEN DENIED IN FULL; SPECIFIC PERFORMANCE, RELIEF REQUEST HAS BEEN DENIED IN FULL ** BROKERAGE FIRM ARBITRATION (47 of 71) ** Type of Event: ARBITRATION Update: NO Arbitration Forum: NASD Case Served Date: 04/12/2001 Case Number: 01-01668 Allegations: FRAUDULENT ACTIVITY-BRCH OF FIDUCIARY DT; ACCOUNT RELATED-BREACH OF CONTRACT; ACCOUNT RELATED-MARGIN CALLS; ACCOUNT RELATED - FAILURE TO SUPERVISE Type of Securities: COMMON STOCK Relief Asked: ACTUAL/COMPENSATORY DAMAGES, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY; PUNITIVE/EXEMPLARY DAMAGES, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY; INTEREST, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY; OTHER COSTS, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY Disposition: AWARD AGAINST PARTY Disposition Date: 05/02/2002 Relief Awarded: ACTUAL/COMPENSATORY DAMAGES, RELIEF REQUEST HAS BEEN DENIED IN FULL; PUNITIVE/EXEMPLARY DAMAGES, RELIEF REQUEST HAS BEEN DENIED IN FULL; INTEREST, RELIEF REQUEST HAS BEEN DENIED IN FULL; OTHER COSTS, RELIEF REQUEST HAS BEEN DENIED IN FULL 7C. RELIEF ASKED: ACTUAL/COMPENSATORY DAMAGES, ASKED AMOUNT $343,850.00 SEVERALLY ; OTHER COSTS, ASKED AMOUNT $0.00 SEVERALLY 8A. CURRENT STATUS: AWARD AGAINST PARTY 8B. STATUS DATE: 05/02/2002 8C. RELIEF AWARDED: ACTUAL/COMPENSATORY DAMAGES, RELIEF HAS BEEN AWARDED (PARTIAL OR FULL, AWARD AMOUNT $79,500.00; OTHER COSTS, RELIEF HAS BEEN AWARDED (PARTIAL OR FULL, AWARD AMOUNT $150.00 ** BROKERAGE FIRM ARBITRATION (48 of 71) ** Type of Event: ARBITRATION Update: YES Arbitration Forum: NASD Case Served Date: 03/09/2001 Case Number: 01-00324 Allegations: ACCOUNT RELATED - FAILURE TO SUPERVISE; ACCOUNT RELATED-NEGLIGENCE; FRAUDULENT ACTIVITY-BRCH OF FIDUCIARY DT; FRAUDULENT ACTIVITY-MISREPRESENTATION Type of Securities: LIMITED PARTNERSHIPS Relief Asked: ACTUAL/COMPENSATORY DAMAGES, ASKED AMOUNT $30,000.00 SEVERALLY ; INTEREST, ASKED AMOUNT $0.00 SEVERALLY Disposition: AWARD AGAINST PARTY Disposition Date: 04/05/2002 NASD BrokerCheck October 14, 2005 Page 47 This information is current as of: 10/14/2005 ________________________________________________________________________________ NASD Member Firm: RAYMOND JAMES FINANCIAL SERVICES, INC. CRD Number: 6694 BROKERAGE FIRM ARBITRATIONS(cont.) Relief Awarded: ACTUAL/COMPENSATORY DAMAGES, RELIEF HAS BEEN AWARDED (PARTIAL OR FULL, AWARD AMOUNT $20,000.00; INTEREST, RELIEF HAS BEEN AWARDED (PARTIAL OR FULL ** BROKERAGE FIRM ARBITRATION (49 of 71) ** Type of Event: ARBITRATION Update: YES Arbitration Forum: NASD Case Served Date: 12/17/1999 Case Number: 99-05270 Allegations: ACCOUNT RELATED-BREACH OF CONTRACT; ACCOUNT RELATED-ERRORS-CHARGES; ACCOUNT RELATED-NEGLIGENCE; ACCOUNT RELATED - FAILURE TO SUPERVISE Type of Securities: COMMON STOCK Relief Asked: ACTUAL/COMPENSATORY DAMAGES, ASKED AMOUNT $326,037.00 SEVERALLY ; PUNITIVE/EXEMPLARY DAMAGES, ASKED AMOUNT $100,000.00 JOINTLY AND SEVERALLY; OTHER COSTS, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY; ATTORNEY'S FEES, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY; OTHER MONETARY RELIEF, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY Disposition: AWARD AGAINST PARTY Disposition Date: 01/23/2002 Relief Awarded: ACTUAL/COMPENSATORY DAMAGES, RELIEF HAS BEEN AWARDED (PARTIAL OR FULL, AWARD AMOUNT $9,500.00; PUNITIVE/EXEMPLARY DAMAGES, RELIEF REQUEST HAS BEEN DENIED IN FULL; OTHER COSTS, RELIEF REQUEST HAS BEEN DENIED IN FULL; ATTORNEY'S FEES, RELIEF REQUEST HAS BEEN DENIED IN FULL; OTHER MONETARY RELIEF, RELIEF REQUEST HAS BEEN DENIED IN FULL ** BROKERAGE FIRM ARBITRATION (50 of 71) ** Type of Event: ARBITRATION Update: YES Arbitration Forum: NASD Case Served Date: 10/03/2000 Case Number: 00-04103 Allegations: ACCOUNT RELATED-BREACH OF CONTRACT; FRAUDULENT ACTIVITY-BRCH OF FIDUCIARY DT; ACCOUNT RELATED-NEGLIGENCE; ACCOUNT RELATED-OTHER Type of Securities: OTHER TYPES OF SECURITIES Relief Asked: ACTUAL/COMPENSATORY DAMAGES, ASKED AMOUNT $473,000.00 SEVERALLY ; PUNITIVE/EXEMPLARY DAMAGES, ASKED AMOUNT $0.01 SEVERALLY ; INTEREST, ASKED AMOUNT $0.00 SEVERALLY ; OTHER MONETARY RELIEF, ASKED AMOUNT $0.00 SEVERALLY Disposition: AWARD AGAINST PARTY Disposition Date: 01/10/2002 Relief Awarded: ACTUAL/COMPENSATORY DAMAGES, RELIEF HAS BEEN AWARDED (PARTIAL OR FULL, AWARD AMOUNT $250,000.00; PUNITIVE/EXEMPLARY DAMAGES, RELIEF REQUEST HAS BEEN DENIED IN FULL; INTEREST, RELIEF REQUEST HAS BEEN DENIED IN FULL; OTHER MONETARY RELIEF, RELIEF REQUEST HAS BEEN DENIED IN FULL ** BROKERAGE FIRM ARBITRATION (51 of 71) ** Type of Event: ARBITRATION NASD BrokerCheck October 14, 2005 Page 48 This information is current as of: 10/14/2005 ________________________________________________________________________________ NASD Member Firm: RAYMOND JAMES FINANCIAL SERVICES, INC. CRD Number: 6694 BROKERAGE FIRM ARBITRATIONS(cont.) Update: NO Arbitration Forum: NASD Case Served Date: 01/05/2001 Case Number: 00-04997 Allegations: FRAUDULENT ACTIVITY-UNAUTHORIZED TRADING; FRAUDULENT ACTIVITY - OMISSION OF FACTS Type of Securities: MUTUAL FUNDS Relief Asked: ACTUAL/COMPENSATORY DAMAGES, ASKED AMOUNT $3,106.29 JOINTLY AND SEVERALLY; OTHER COSTS, ASKED AMOUNT $175.00 JOINTLY AND SEVERALLY Disposition: AWARD AGAINST PARTY Disposition Date: 05/30/2001 Relief Awarded: ACTUAL/COMPENSATORY DAMAGES, RELIEF REQUEST HAS BEEN DENIED IN FULL; OTHER COSTS, RELIEF REQUEST HAS BEEN DENIED IN FULL 7C. RELIEF ASKED: OTHER COSTS, ASKED AMOUNT $175.00 SEVERALLY 8A. CURRENT STATUS: AWARD AGAINST PARTY 8B. STATUS DATE: 05/30/2001 8C. RELIEF AWARDED: OTHER COSTS, RELIEF HAS BEEN AWARDED (PARTIAL OR FULL, AWARD AMOUNT $175.00 ** BROKERAGE FIRM ARBITRATION (52 of 71) ** Type of Event: ARBITRATION Update: YES Arbitration Forum: NASD Case Served Date: 02/02/2000 Case Number: 99-05170 Allegations: ACCOUNT RELATED-NEGLIGENCE; ACCOUNT RELATED-TRANSFER Type of Securities: COMMON STOCK Relief Asked: ACTUAL/COMPENSATORY DAMAGES, ASKED AMOUNT $7,507.50 JOINTLY AND SEVERALLY; OTHER COSTS, ASKED AMOUNT $325.00 JOINTLY AND SEVERALLY Disposition: NO AWARD AGAINST PARTY Disposition Date: 11/15/2000 Relief Awarded: ACTUAL/COMPENSATORY DAMAGES, RELIEF REQUEST HAS BEEN DENIED IN FULL; OTHER COSTS, RELIEF REQUEST HAS BEEN DENIED IN FULL ** BROKERAGE FIRM ARBITRATION (53 of 71) ** Type of Event: ARBITRATION Update: YES Arbitration Forum: NASD Case Served Date: 06/17/1998 Case Number: 98-01391 Allegations: FRAUDULENT ACTIVITY-MISREPRESENTATION; FRAUDULENT ACTIVITY-BRCH OF FIDUCIARY DT; FRAUDULENT ACTIVITY-SUITABILITY; ACCOUNT RELATED - FAILURE TO SUPERVISE Type of Securities: UNKNOWN TYPE OF SECURITIES Relief Asked: ACTUAL/COMPENSATORY DAMAGES, ASKED AMOUNT $14,000.00 SEVERALLY ; ATTORNEY'S FEES, ASKED AMOUNT $4,000.00 SEVERALLY ; OTHER COSTS, ASKED AMOUNT $100.00 JOINTLY AND SEVERALLY; INTEREST, ASKED AMOUNT $0.00 SEVERALLY Disposition: AWARD AGAINST PARTY Disposition Date: 02/02/2000 NASD BrokerCheck October 14, 2005 Page 49 This information is current as of: 10/14/2005 ________________________________________________________________________________ NASD Member Firm: RAYMOND JAMES FINANCIAL SERVICES, INC. CRD Number: 6694 BROKERAGE FIRM ARBITRATIONS(cont.) Relief Awarded: ACTUAL/COMPENSATORY DAMAGES, RELIEF HAS BEEN AWARDED (PARTIAL OR FULL, AWARD AMOUNT $14,000.00; ATTORNEY'S FEES, RELIEF HAS BEEN AWARDED (PARTIAL OR FULL, AWARD AMOUNT $2,500.00; OTHER COSTS, RELIEF REQUEST HAS BEEN DENIED IN FULL; INTEREST, RELIEF HAS BEEN AWARDED (PARTIAL OR FULL ** BROKERAGE FIRM ARBITRATION (54 of 71) ** Type of Event: ARBITRATION Update: YES Arbitration Forum: NASD Case Served Date: 01/21/1998 Case Number: 97-05761 Allegations: ACCOUNT RELATED-BREACH OF CONTRACT; FRAUDULENT ACTIVITY-BRCH OF FIDUCIARY DT; ACCOUNT RELATED - FAILURE TO SUPERVISE; FRAUDULENT ACTIVITY-MISREPRESENTATION Type of Securities: COMMON STOCK;MUTUAL FUNDS;ANNUITIES Relief Asked: ACTUAL/COMPENSATORY DAMAGES, ASKED AMOUNT $100,000.01 JOINTLY AND SEVERALLY; ACTUAL/COMPENSATORY DAMAGES, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY; INTEREST, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY; OTHER MONETARY RELIEF, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY; OTHER COSTS, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY; ATTORNEY'S FEES, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY; PUNITIVE/EXEMPLARY DAMAGES, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY Disposition: NO AWARD AGAINST PARTY Disposition Date: 11/29/1999 Relief Awarded: ACTUAL/COMPENSATORY DAMAGES, RELIEF REQUEST HAS BEEN DENIED IN FULL; ACTUAL/COMPENSATORY DAMAGES, RELIEF REQUEST HAS BEEN DENIED IN FULL; INTEREST, RELIEF REQUEST HAS BEEN DENIED IN FULL; OTHER MONETARY RELIEF, RELIEF REQUEST HAS BEEN DENIED IN FULL; OTHER COSTS, RELIEF REQUEST HAS BEEN DENIED IN FULL; ATTORNEY'S FEES, RELIEF REQUEST HAS BEEN DENIED IN FULL; PUNITIVE/EXEMPLARY DAMAGES, RELIEF REQUEST HAS BEEN DENIED IN FULL ** BROKERAGE FIRM ARBITRATION (55 of 71) ** Type of Event: ARBITRATION Update: NO Arbitration Forum: NASD Case Served Date: 03/24/1998 Case Number: 98-00167 Allegations: BRCH OF FIDUCIARY DT; ACCOUNT RELATED - FAILURE TO SUPERVISE Type of Securities: COMMON STOCK Relief Asked: ACTUAL/COMPENSATORY DAMAGES, ASKED AMOUNT $11,550.00; INTEREST, ASKED AMOUNT $0.00; OTHER MONETARY RELIEF, ASKED AMOUNT $0.00 Disposition: AWARD AGAINST PARTY Disposition Date: 03/03/1999 Relief Awarded: ACTUAL/COMPENSATORY DAMAGES, RELIEF HAS BEEN AWARDED (PARTIAL OR FULL), AWARD AMOUNT $3,981.52; INTEREST, RELIEF REQUEST HAS BEEN DENIED IN FULL; OTHER MONETARY RELIEF, RELIEF REQUEST HAS BEEN DENIED IN FULL ** BROKERAGE FIRM ARBITRATION (56 of 71) ** NASD BrokerCheck October 14, 2005 Page 50 This information is current as of: 10/14/2005 ________________________________________________________________________________ NASD Member Firm: RAYMOND JAMES FINANCIAL SERVICES, INC. CRD Number: 6694 BROKERAGE FIRM ARBITRATIONS(cont.) Type of Event: ARBITRATION Update: NO Arbitration Forum: NASD Case Served Date: 12/08/1997 Case Number: 97-04325 Allegations: ACCOUNT RELATED-NEGLIGENCE; ACCOUNT RELATED-OTHER Type of Securities: COMMON STOCK; LIMITED PARTNERSHIPS Relief Asked: ACTUAL/COMPENSATORY DAMAGES, ASKED AMOUNT $1,750,000.00 JOINTLY AND SEVERALLY Disposition: CASE IS CLOSED, BY HEARING Disposition Date: 01/12/1999 Relief Awarded: ACTUAL/COMPENSATORY DAMAGES, RELIEF REQUEST HAS BEEN DENIED IN FULL ** BROKERAGE FIRM ARBITRATION (57 of 71) ** Type of Event: ARBITRATION Update: NO Arbitration Forum: NASD Case Served Date: 07/30/1996 Case Number: 96-02817 Allegations: ACCOUNT RELATED-BREACH OF CONTRACT; ACCOUNT RELATED - FAILURE TO SUPERVISE; ACCOUNT RELATED-NEGLIGENCE; UNAUTHORIZED TRADING Type of Securities: UNKNOWN TYPE OF SECURITIES Relief Asked: ACTUAL/COMPENSATORY DAMAGES, ASKED AMOUNT $300,000.00; INTEREST, ASKED AMOUNT $0.00; ATTORNEY'S FEES, ASKED AMOUNT $0.00; OTHER COSTS, ASKED AMOUNT $0.00; PUNITIVE/EXEMPLARY DAMAGES, ASKED AMOUNT $1,000,000.00 Disposition: AWARD AGAINST PARTY Disposition Date: 05/30/1997 Relief Awarded: ACTUAL/COMPENSATORY DAMAGES, RELIEF HAS BEEN AWARDED (PARTIAL OR FULL), AWARD AMOUNT $39,500.00; INTEREST, RELIEF HAS BEEN AWARDED (PARTIAL OR FULL); ATTORNEY'S FEES, RELIEF REQUEST HAS BEEN DENIED IN FULL; OTHER COSTS, RELIEF HAS BEEN AWARDED (PARTIAL OR FULL), AWARD AMOUNT $1,000.00; PUNITIVE/EXEMPLARY DAMAGES, RELIEF REQUEST HAS BEEN DENIED IN FULL ** BROKERAGE FIRM ARBITRATION (58 of 71) ** Type of Event: ARBITRATION Update: NO Arbitration Forum: NASD Case Served Date: 02/08/1996 Case Number: 95-06071 Allegations: ACCOUNT RELATED-NEGLIGENCE; SUITABILITY Type of Securities: MUTUAL FUNDS Relief Asked: ACTUAL/COMPENSATORY DAMAGES, ASKED AMOUNT $5,626.00 JOINTLY AND SEVERALLY; SPECIFIC PERFORMANCE, ASKED AMOUNT JOINTLY AND SEVERALLY Disposition: CASE IS CLOSED, BY PAPERS Disposition Date: Not Provided NASD BrokerCheck October 14, 2005 Page 51 This information is current as of: 10/14/2005 ________________________________________________________________________________ NASD Member Firm: RAYMOND JAMES FINANCIAL SERVICES, INC. CRD Number: 6694 BROKERAGE FIRM ARBITRATIONS(cont.) Relief Awarded: ACTUAL/COMPENSATORY DAMAGES, RELIEF REQUEST HAS BEEN DENIED IN FULL; SPECIFIC PERFORMANCE, RELIEF REQUEST HAS BEEN DENIED IN FULL ** BROKERAGE FIRM ARBITRATION (59 of 71) ** Type of Event: ARBITRATION Update: NO Arbitration Forum: NASD Case Served Date: 12/18/1995 Case Number: 95-05684 Allegations: UNAUTHORIZED TRADING; BRCH OF FIDUCIARY DT; MISREPRESENTATION Type of Securities: COMMON STOCK; CORPORATE BONDS Relief Asked: ACTUAL/COMPENSATORY DAMAGES, ASKED AMOUNT $50,844.82 JOINTLY AND SEVERALLY; INTEREST, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY; PUNITIVE/EXEMPLARY DAMAGES, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY; ATTORNEY'S FEES, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY Disposition: CASE IS CLOSED, BY HEARING Disposition Date: 06/28/1996 Relief Awarded: ACTUAL/COMPENSATORY DAMAGES, RELIEF REQUEST HAS BEEN DENIED IN FULL; INTEREST, RELIEF REQUEST HAS BEEN DENIED IN FULL; PUNITIVE/EXEMPLARY DAMAGES, RELIEF REQUEST HAS BEEN DENIED IN FULL; ATTORNEY'S FEES, RELIEF REQUEST HAS BEEN DENIED IN FULL ** BROKERAGE FIRM ARBITRATION (60 of 71) ** Type of Event: ARBITRATION Update: NO Arbitration Forum: NASD Case Served Date: 08/03/1995 Case Number: 95-03735 Allegations: SUITABILITY; MISREPRESENTATION; OMISSION OF FACTS; BRCH OF FIDUCIARY DT Type of Securities: OTHER TYPES OF SECURITIES Relief Asked: ACTUAL/COMPENSATORY DAMAGES, ASKED AMOUNT $457,000.00; ACTUAL/COMPENSATORY DAMAGES, ASKED AMOUNT $122,000.00; INTEREST, ASKED AMOUNT $0.00; INTEREST, ASKED AMOUNT $0.00; PUNITIVE/EXEMPLARY DAMAGES, ASKED AMOUNT $0.00; PUNITIVE/EXEMPLARY DAMAGES, ASKED AMOUNT $0.00; OTHER COSTS, ASKED AMOUNT $0.00; OTHER COSTS, ASKED AMOUNT $0.00; ATTORNEY'S FEES, ASKED AMOUNT $0.00; ATTORNEY'S FEES, ASKED AMOUNT $0.00; DECLARATORY JUDGEMENT, ASKED AMOUNT; DECLARATORY JUDGEMENT, ASKED AMOUNT Disposition: AWARD AGAINST PARTY Disposition Date: 05/21/1997 Relief Awarded: ACTUAL/COMPENSATORY DAMAGES, RELIEF HAS BEEN AWARDED (PARTIAL OR FULL), AWARD AMOUNT $75,000.00 JOINTLY AND SEVERALLY; ACTUAL/COMPENSATORY DAMAGES, RELIEF HAS BEEN AWARDED (PARTIAL OR FULL), AWARD AMOUNT $50,000.00 JOINTLY AND SEVERALLY; INTEREST, RELIEF REQUEST HAS BEEN DENIED IN FULL; INTEREST, RELIEF REQUEST HAS BEEN DENIED IN FULL; PUNITIVE/EXEMPLARY DAMAGES, RELIEF REQUEST HAS BEEN DENIED IN FULL; PUNITIVE/EXEMPLARY DAMAGES, RELIEF REQUEST HAS BEEN DENIED IN FULL; OTHER COSTS, RELIEF REQUEST HAS BEEN DENIED IN FULL; OTHER COSTS, RELIEF REQUEST HAS BEEN DENIED IN FULL; ATTORNEY'S FEES, RELIEF REQUEST HAS BEEN DENIED IN FULL; ATTORNEY'S FEES, RELIEF REQUEST HAS BEEN DENIED IN FULL; DECLARATORY JUDGEMENT, RELIEF REQUEST HAS BEEN DENIED IN FULL; DECLARATORY JUDGEMENT, RELIEF REQUEST NASD BrokerCheck October 14, 2005 Page 52 This information is current as of: 10/14/2005 ________________________________________________________________________________ NASD Member Firm: RAYMOND JAMES FINANCIAL SERVICES, INC. CRD Number: 6694 BROKERAGE FIRM ARBITRATIONS(cont.) HAS BEEN DENIED IN FULL ** BROKERAGE FIRM ARBITRATION (61 of 71) ** Type of Event: ARBITRATION Update: NO Arbitration Forum: NASD Case Served Date: 08/15/1995 Case Number: 95-03706 Allegations: SUITABILITY; MISREPRESENTATION; BRCH OF FIDUCIARY DT; OMISSION OF FACTS Type of Securities: OTHER TYPES OF SECURITIES Relief Asked: ACTUAL/COMPENSATORY DAMAGES, ASKED AMOUNT $270,065.00; PUNITIVE/EXEMPLARY DAMAGES, ASKED AMOUNT $0.00; INTEREST, ASKED AMOUNT $0.00; ATTORNEY'S FEES, ASKED AMOUNT $0.00; SPECIFIC PERFORMANCE, ASKED AMOUNT Disposition: AWARD AGAINST PARTY Disposition Date: 08/06/1996 Relief Awarded: ACTUAL/COMPENSATORY DAMAGES, RELIEF HAS BEEN AWARDED (PARTIAL OR FULL), AWARD AMOUNT $60,000.00 JOINTLY AND SEVERALLY; PUNITIVE/EXEMPLARY DAMAGES, RELIEF REQUEST HAS BEEN DENIED IN FULL; INTEREST, RELIEF REQUEST HAS BEEN DENIED IN FULL; ATTORNEY'S FEES, RELIEF REQUEST HAS BEEN DENIED IN FULL; SPECIFIC PERFORMANCE, RELIEF REQUEST HAS BEEN DENIED IN FULL ** BROKERAGE FIRM ARBITRATION (62 of 71) ** Type of Event: ARBITRATION Update: NO Arbitration Forum: NASD Case Served Date: 07/12/1995 Case Number: 95-02781 Allegations: BRCH OF FIDUCIARY DT; MISREPRESENTATION; SUITABILITY; ACCOUNT RELATED - FAILURE TO SUPERVISE Type of Securities: MUTUAL FUNDS Relief Asked: ACTUAL/COMPENSATORY DAMAGES, ASKED AMOUNT $646,686.00 JOINTLY AND SEVERALLY; INTEREST, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY; OTHER COSTS, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY Disposition: CASE IS CLOSED, BY HEARING Disposition Date: 06/05/1998 Relief Awarded: ACTUAL/COMPENSATORY DAMAGES, RELIEF REQUEST HAS BEEN DENIED IN FULL; INTEREST, RELIEF REQUEST HAS BEEN DENIED IN FULL; OTHER COSTS, RELIEF REQUEST HAS BEEN DENIED IN FULL ** BROKERAGE FIRM ARBITRATION (63 of 71) ** Type of Event: ARBITRATION Update: YES Arbitration Forum: NASD Case Served Date: 07/12/1995 Case Number: 95-02638 Allegations: ACCOUNT RELATED-TRANSFER; EXECUTIONS-FAILURE TO EXECUTE NASD BrokerCheck October 14, 2005 Page 53 This information is current as of: 10/14/2005 ________________________________________________________________________________ NASD Member Firm: RAYMOND JAMES FINANCIAL SERVICES, INC. CRD Number: 6694 BROKERAGE FIRM ARBITRATIONS(cont.) Type of Securities: UNKNOWN TYPE OF SECURITIES Relief Asked: ACTUAL/COMPENSATORY DAMAGES, ASKED AMOUNT $2,018.86 JOINTLY AND SEVERALLY Disposition: CASE IS CLOSED, BY PAPERS Disposition Date: 11/20/1995 Relief Awarded: ACTUAL/COMPENSATORY DAMAGES, RELIEF REQUEST HAS BEEN DENIED IN FULL ** BROKERAGE FIRM ARBITRATION (64 of 71) ** Type of Event: ARBITRATION Update: NO Arbitration Forum: NASD Case Served Date: 03/29/1995 Case Number: 95-00501 Allegations: BRCH OF FIDUCIARY DT; ACCOUNT RELATED-NEGLIGENCE; SUITABILITY Type of Securities: COMMON STOCK; CORPORATE BONDS; MUTUAL FUNDS Relief Asked: ACTUAL/COMPENSATORY DAMAGES, ASKED AMOUNT $50,000.00 JOINTLY AND SEVERALLY; ACTUAL/COMPENSATORY DAMAGES, ASKED AMOUNT $75,000.00 JOINTLY AND SEVERALLY; ACTUAL/COMPENSATORY DAMAGES, ASKED AMOUNT $50,000.00 JOINTLY AND SEVERALLY; ACTUAL/COMPENSATORY DAMAGES, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY; OTHER COSTS, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY; PUNITIVE/EXEMPLARY DAMAGES, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY Disposition: CASE IS CLOSED, BY HEARING Disposition Date: Not Provided Relief Awarded: ACTUAL/COMPENSATORY DAMAGES, RELIEF REQUEST HAS BEEN DENIED IN FULL; ACTUAL/COMPENSATORY DAMAGES, RELIEF REQUEST HAS BEEN DENIED IN FULL; ACTUAL/COMPENSATORY DAMAGES, RELIEF REQUEST HAS BEEN DENIED IN FULL; ACTUAL/COMPENSATORY DAMAGES, RELIEF REQUEST HAS BEEN DENIED IN FULL; OTHER COSTS, RELIEF REQUEST HAS BEEN DENIED IN FULL; PUNITIVE/EXEMPLARY DAMAGES, RELIEF REQUEST HAS BEEN DENIED IN FULL ** BROKERAGE FIRM ARBITRATION (65 of 71) ** Type of Event: ARBITRATION Update: NO Arbitration Forum: NASD Case Served Date: 01/19/1995 Case Number: 94-05083 Allegations: MISREPRESENTATION; SUITABILITY; ACCOUNT RELATED - FAILURE TO SUPERVISE Type of Securities: MUTUAL FUNDS Relief Asked: ACTUAL/COMPENSATORY DAMAGES, ASKED AMOUNT $75,000.00; PUNITIVE/EXEMPLARY DAMAGES, ASKED AMOUNT $0.00; INTEREST, ASKED AMOUNT $0.00; ATTORNEY'S FEES, ASKED AMOUNT $0.00; OTHER COSTS, ASKED AMOUNT $0.00; TREBLE DAMAGES, ASKED AMOUNT $0.00 Disposition: CASE IS CLOSED, BY HEARING Disposition Date: 12/17/1996 Relief Awarded: ACTUAL/COMPENSATORY DAMAGES, RELIEF REQUEST HAS BEEN DENIED IN FULL; PUNITIVE/EXEMPLARY DAMAGES, RELIEF REQUEST HAS BEEN DENIED IN FULL; INTEREST, RELIEF REQUEST HAS BEEN DENIED IN FULL; ATTORNEY'S FEES, RELIEF REQUEST HAS BEEN DENIED IN FULL; OTHER COSTS, NASD BrokerCheck October 14, 2005 Page 54 This information is current as of: 10/14/2005 ________________________________________________________________________________ NASD Member Firm: RAYMOND JAMES FINANCIAL SERVICES, INC. CRD Number: 6694 BROKERAGE FIRM ARBITRATIONS(cont.) RELIEF REQUEST HAS BEEN DENIED IN FULL; TREBLE DAMAGES, RELIEF REQUEST HAS BEEN DENIED IN FULL ** BROKERAGE FIRM ARBITRATION (66 of 71) ** Type of Event: ARBITRATION Update: YES Arbitration Forum: NASD Case Served Date: 11/23/1994 Case Number: 94-02716 Allegations: SUITABILITY; MISREPRESENTATION Type of Securities: UNKNOWN TYPE OF SECURITIES Relief Asked: ACTUAL/COMPENSATORY DAMAGES, ASKED AMOUNT $9,971.00; OTHER COSTS, ASKED AMOUNT $0.00 Disposition: AWARD AGAINST PARTY Disposition Date: 12/15/1995 Relief Awarded: ACTUAL/COMPENSATORY DAMAGES, RELIEF REQUEST HAS BEEN DENIED IN FULL; OTHER COSTS, RELIEF HAS BEEN AWARDED (PARTIAL OR FULL), AWARD AMOUNT $150.00 JOINTLY AND SEVERALLY ** BROKERAGE FIRM ARBITRATION (67 of 71) ** Type of Event: ARBITRATION Update: NO Arbitration Forum: NASD Case Served Date: 01/12/1994 Case Number: 93-05337 Allegations: ACCOUNT RELATED - FAILURE TO SUPERVISE; SUITABILITY; MISREPRESENTATION; BRCH OF FIDUCIARY DT Type of Securities: COMMON STOCK; PREFERRED STOCK; LIMITED PARTNERSHIPS Relief Asked: ACTUAL/COMPENSATORY DAMAGES, ASKED AMOUNT $492,230.00 JOINTLY AND SEVERALLY; ATTORNEY'S FEES, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY; INTEREST, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY; OTHER COSTS, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY; OTHER MONETARY RELIEF, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY Disposition: CASE IS CLOSED, BY HEARING Disposition Date: 07/26/1995 Relief Awarded: ACTUAL/COMPENSATORY DAMAGES, RELIEF REQUEST HAS BEEN DENIED IN FULL; ATTORNEY'S FEES, RELIEF REQUEST HAS BEEN DENIED IN FULL; INTEREST, RELIEF REQUEST HAS BEEN DENIED IN FULL; OTHER COSTS, RELIEF REQUEST HAS BEEN DENIED IN FULL; OTHER MONETARY RELIEF, RELIEF REQUEST HAS BEEN DENIED IN FULL ** BROKERAGE FIRM ARBITRATION (68 of 71) ** Type of Event: ARBITRATION Update: YES Arbitration Forum: NASD Case Served Date: 10/15/1993 Case Number: 93-03451 Allegations: MISREPRESENTATION; CHURNING; OMISSION OF FACTS; BRCH OF FIDUCIARY DT NASD BrokerCheck October 14, 2005 Page 55 This information is current as of: 10/14/2005 ________________________________________________________________________________ NASD Member Firm: RAYMOND JAMES FINANCIAL SERVICES, INC. CRD Number: 6694 BROKERAGE FIRM ARBITRATIONS(cont.) Type of Securities: COMMON STOCK Relief Asked: ACTUAL/COMPENSATORY DAMAGES, ASKED AMOUNT $4,500.00 JOINTLY AND SEVERALLY; TREBLE DAMAGES, ASKED AMOUNT $1,992.00 JOINTLY AND SEVERALLY; OTHER MONETARY RELIEF, ASKED AMOUNT $0.00 JOINTLY AND SEVERALLY Disposition: CASE IS CLOSED, BY PAPERS Disposition Date: 05/06/1994 Relief Awarded: ACTUAL/COMPENSATORY DAMAGES, RELIEF REQUEST HAS BEEN DENIED IN FULL; TREBLE DAMAGES, RELIEF REQUEST HAS BEEN DENIED IN FULL; OTHER MONETARY RELIEF, RELIEF REQUEST HAS BEEN DENIED IN FULL ** BROKERAGE FIRM ARBITRATION (69 of 71) ** Type of Event: ARBITRATION Update: NO Arbitration Forum: NASD Case Served Date: 11/08/1991 Case Number: 91-03263 Allegations: ACCOUNT RELATED-NEGLIGENCE; BRCH OF FIDUCIARY DT Type of Securities: MUTUAL FUNDS; ANNUITIES; UNKNOWN TYPE OF SECURITIES; UNKNOWN TYPE OF SECURITIES Relief Asked: ACTUAL/COMPENSATORY DAMAGES, ASKED AMOUNT $19,250.46; INTEREST, ASKED AMOUNT $0.00; OTHER COSTS, ASKED AMOUNT $0.00 Disposition: CASE IS CLOSED, BY HEARING Disposition Date: 11/18/1992 Relief Awarded: ACTUAL/COMPENSATORY DAMAGES, RELIEF REQUEST HAS BEEN DENIED IN FULL; INTEREST, RELIEF REQUEST HAS BEEN DENIED IN FULL; OTHER COSTS, RELIEF REQUEST HAS BEEN DENIED IN FULL ** BROKERAGE FIRM ARBITRATION (70 of 71) ** Type of Event: ARBITRATION Update: NO Arbitration Forum: NASD Case Served Date: 11/05/1991 Case Number: 91-03261 Allegations: BRCH OF FIDUCIARY DT; MISREPRESENTATION; SUITABILITY; CHURNING Type of Securities: LIMITED PARTNERSHIPS; OPTIONS; COMMON STOCK; MUTUAL FUNDS Relief Asked: ACTUAL/COMPENSATORY DAMAGES, ASKED AMOUNT $305,653.00; INTEREST, ASKED AMOUNT $71,000.00 Disposition: AWARD AGAINST PARTY Disposition Date: 06/16/1993 Relief Awarded: ACTUAL/COMPENSATORY DAMAGES, RELIEF HAS BEEN AWARDED (PARTIAL OR FULL), AWARD AMOUNT $210,000.00 JOINTLY AND SEVERALLY; INTEREST, RELIEF HAS BEEN AWARDED (PARTIAL OR FULL), AWARD AMOUNT $9,329.00 JOINTLY AND SEVERALLY ** BROKERAGE FIRM ARBITRATION (71 of 71) ** Type of Event: ARBITRATION Update: NO NASD BrokerCheck October 14, 2005 Page 56 This information is current as of: 10/14/2005 ________________________________________________________________________________ NASD Member Firm: RAYMOND JAMES FINANCIAL SERVICES, INC. CRD Number: 6694 BROKERAGE FIRM ARBITRATIONS(cont.) Arbitration Forum: NASD Case Served Date: 09/06/1991 Case Number: 91-02646 Allegations: MISREPRESENTATION; ACCOUNT RELATED-NEGLIGENCE Type of Securities: COMMON STOCK Relief Asked: ACTUAL/COMPENSATORY DAMAGES, ASKED AMOUNT $45,000.00 Disposition: AWARD AGAINST PARTY Disposition Date: 03/26/1993 Relief Awarded: ACTUAL/COMPENSATORY DAMAGES, RELIEF HAS BEEN AWARDED (PARTIAL OR FULL), AWARD AMOUNT $8,500.00 JOINTLY AND SEVERALLY ************ END OF REPORT ************