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MEMBER FIRMS ON DISTRICT BUSINESS/NOMINATING COMMITTEES
AND NASD BOARD OF GOVERNORS BASED UPON ONLINE NASD DATA (August 1, 2002)

#	2002 NASD News Releases Headlines	Disclosures in Full News Release	Board/Committee	Comment
1	NASD Fines and Suspends Two CSFB Execs for Failing to Prevent IPO Profit Sharing Paybacks August 16, 2002	Credit Suisse First Boston J. Anthony Ehinger, Global Head of Equity Sales/30 day suspension in all capacities/60 day suspension as supervisor/$200,000 fine George W. Coleman, Institutional Listed Sales Trading Head//30 day suspension in all capacities/60 day suspension as supervisor/$200,000 fine	BOG, DBCC	See items #12 and #13. Individuals cited for failure to supervise. QUERY: Why did it take 8 months to resolve individuals' sanctions? Why aren't the individuals named in the release headlines as in #27 and #34?
2	NASD'S NAC DISMISSES ACTION AGAINST MORGAN STANLEY DEAN WITTER July 26, 2002	Case dismissed by Hearing Panel and NAC as brought too late by NASDR.		Release about affirmation on appeal to NAC of Hearing Panel dismissal of overly-aged case. QUERY: Why aren't all dismissals the subject of a press release? Why this one?
3	NASD Charges Hornblower and Weeks with Violating Settlement by Issuing Research During NASD Ban July 9, 2002	Addtl Title on Release: "Report Found to Contain Misleading Information" No individual named		Release about a charge; not a finding or settlement. QUERY: Why this "charge" and not others the subject of a press release?
4	NASD's National Adjudicatory Council Disciplines Josephthal & Co. for Misconduct During an NASD Arbitration Hearing July 8, 2002	No individual named Censure/$10,000		$10,000 fine. No individual
5	NASD Charges Swift Trade Securitieswith Fraudulent and Non-bona Fide "Wash" Transactions in QQQ June 27, 2002	President, Peter Beck Vice President/Compliance Officer Joseph Ianni		Release about a charge; not a finding or settlement. Names two individuals. QUERY: Why this "charge" and not others the subject of a press release?
6	NASD Suspends and Sanctions Trader for Marking the Close; Issues Cautionary Note Prior to Russell 2000 Rebalance June 26, 2002	Alan M. Remer Four month suspension/$7,500		$7,500 fine. One individual named. No firm named.
7	NASD Fines U.S. Bancorp Piper Jaffray and Managing Director$300,000 June 25, 2002	Addtl title on Release: "Cites Threat to Drop Research Analyst Coverage and Cease Market Making Activities in Retaliation for Not Receiving Investment Banking Business" Managing Director Scott Beardsley Piper: Censure/$250,000 and Beardsley:Censure/$50,000.		Total fines of $300,000 and one individual named. QUERY: Why does the release headline reference "Managing Director" when others cite to the individual's name? See #12 and #13?
8	NASD Regulation Fines Hornblower & Weeks, Inc. $100,000 and Suspends Firm From All Research Activities for 6 Months; Firm President Also Fined and Suspended May 7, 2002	President John Rooney Hornblower: Censure/six month research suspension/$100,000 Rooney: 3 month suspension all capacities/4 month suspension supervisor/$85,000		Total fines of $185,000 and one individual named.
9	NASD Regulation Settles Stock Manipulation Case with M. H. Meyerson & Co., Inc. and Four Execs May 1, 2002	Addtl title on Release:"NASD Regulation Files Complaint Against Two Employees of a Second Firm in Related Activity" Head Trader, Salvatore Dacunto, CEO Martin H. Meyerson, former President and COO Michael Silvestri Compliance Officer M.H. Meyerson: Censure/$75,000 Dacunto: Three months suspension all capacities/five months suspension supervisor/$75,000 Meyerson: 20 day suspension all capacities/30 day suspension supervisor/$50,000 Silvestri: 20 day suspension all capacities/$25,000 CCO: Censured/$15,000		Total fines of $240,000 and four individuals named.
10	NASD Regulation Censures and Fines Interactive Brokers for Market Systems Violations April 18, 2002	No individual named Censure/$250,000		$250,000 in fines and no individual named.
11	NASD Regulation Expels First Federal Securities, Inc. and Bars its Owner and Presidentfor False Membership Information February 27, 2002	President Kellie McKinzie First Federal: Expelled McKinzie: Barred		Individual expelled
12	NASD Regulation Charges Credit Suisse First Boston with Siphoning Tens of Millions of Dollars of Customers' Profits in Exchange for "Hot" IPO Shares January 22, 2002	Addtl title on Release:"Firm to Pay $100 Million to be Split Between the NASD and SEC Record fine for NASD" No individual named Censure/$50,000,000 plus $50,000,000 to SEC	BOG, DBCC,	Release about $100,000,000 in "fines" and no individuals named.
13	View additional statement regarding CSFB by NASD Regulation President Mary Schapiro January 22, 2002	No individual named	BOG, DBCC	commentary release
14	NASD Regulation Charges Tower Square Securitiesand Files Complaints Against Two Individuals January 18, 2002	Tower Square Securities former Tower registered representative, Kevin B. Dermody, his business partner, Randall J. Veselik Tower Square Securities: Censure/$200,000/directed it to make $4.3 million restitution (settlement)		Release about $4.5 million in "fines/payments" and two individuals named.
15	NASD Regulation Fines and Censures Worldco, LLC and Former Principal for Day Trading Margin Violations January 9, 2002	Chief Financial Officer, Terry T. Maloney Worldco, LLC: Censure/$175,000 Maloney: Censure/$15,000		Total fines of $190,000 and one individual named.
16	NASD Regulation Directs Knight Securities to Pay $1.5 Million For Market Violations January 8, 2002	Addtl title on Release: "$700,000 Fine to NASD, $800,000 Payments to Clients" No individual named Knight Securities: Censure/$700,000/$800,000 restitution	BOG (Ken D. Pasternak, CEO Knight/Trimark Group, Inc. Board member 2000-2001)	Release about $1.5 million in "fines/payments" and no individuals named. QUERY: Why no prior release about "charges"? Why no individual named?
17	NASD Regulation, Inc. Disciplines Two Ohio Brokerage Firms In Muni Bond Scheme December 17, 2001	Michael Patterson, Inc. President, Michael W. Patterson, Quantum Capital Corporation fixed-income trader Ernest Dahlen, former supervisor, Thomas Dooley Michael Patterson, Inc.: expelled, Michael W. Patterson: Barred Quantum Capital Corporation: Censured Ernest Dahlen: six-month suspension Thomas Dooley: three-month suspension/$10,000		3 individuals named
18	NASD Regulation Suspends and Fines Two Former Senior Vice Presidents of Parker/Hunter Inc. for Insider Trading December 11, 2001	Parker/Hunter Inc. John D. Frankola, Richard J. Sporrer, Jr., Parker/Hunter: Censure/$100,000. Frankola: 11-month suspension/$30,000 Sporrer: Suspension/$12,000	DBCC	$142,000 in fines with two individuals named. Charge and settlement
19	NASD Regulation Announces Two Enforcement Actions Involving Sales of Variable Annuity and Life Insurance Contracts December 5, 2001	CUNA Brokerage Services, Inc. Censure/$100,000, compliance officer Campbell D. McHugh, 45-day principal suspension/$25,000, Daniel L. Bernal, ten-day suspension/$5,000 Christian C. Zernich, five-day suspension/$2,500 Mutual Service Corporation Censure/$35,000		$167,500 in fines with 3 individuals named.
20	NASD Regulation Sanctions Sevenfor Trade or Move Violations November 15, 2001	National Financial Services, L.L.C., $30,000 Windsor Capital Advisors, Inc., $20,000 Prudential Securities Incorporated, $20,000 Pershing Trading Company, L.P., $20,000 Gerard Klauer Mattison & Co., Inc., $10,000 BancBoston Robertson Stephens, $10,000 J.P. Morgan Securities, Inc. $10,000 No individual named	Richard F. Brueckner, COO, Pershing Division of Credit Suisse First Boston, 2002 NASD Board, 2002 NASD Management Compensation Committee, 2002 Executive Committee, 2002 NASD Regulation Board, Chairman 2002 NASD Finance Committee John S. Chalsty, Credit Suisse First Boston, 2002 NASD Audit Committee Prudential has DBCC seat	$120,000 in fines with no individuals named.
21	NASD Regulation Hearing Panel Fines Ko Securities and its President for Illegal Short Selling November 5, 2001	Ko Securities $15,000 and $147,500 President, Terrance Yoshikawa, $147,500 jt/sev		$162,500 with one individual
22	NASD Regulation Charges Three Traders in Stock Manipulation Scheme October 22, 2001	Jerome E. Rosen, Timothy R. Chamberlain, Robert J. Prager, J. Alexander Securities, Inc. and its president, James Alexander,		Charges only. Four individuals named.
23	NASD Regulation Charges Security Capital Tradingand Exec With Unjustified Termination Of Firm Commitment Underwriting August 16, 2001	Security Capital Trading President Ronald Heineman		Charges only. One individual named.
24	NASD Regulation Sanctions Ten Firms for Locked and Crossed Market Violations in Trading After Initial Public Offerings July 16, 2001	Fleet Securities, Inc., Censure/$50,000 NDB Capital Markets LP, Censure/$250,000 Herzog, Heine, Geduld, Inc., Censure/$18,000 Schwab Capital Markets, Censure/$12,000 Spear, Leeds & Kellogg, Censure/$10,000 Access Securities, Inc.,30-day suspension/$14,000 Aegis Capital Corp.10-day suspension$19,000, Dalton Kent Securities Group, Inc.30-day suspension/$25,000, Ramius Securities L.L.C.,10-day suspension/$61,000 Torrey Pines Securities, Inc.30-day suspension/$14,000 No individual named	Fleet:DNC Schwab:DNC SLK: DBCC	$473,000 in fines. No individuals named.
25	NASD Regulation Censures and Fines E*Trade Securities $90,000 for Violations of Advertising and Supervision Rules July 9, 2001	ETrade Securities/$90,000 in fines No individual named*		$90,000 in fines. No individual named.
26	NASD Regulation Sanctions Eleven Firms for Trade or Move Violations June 27, 2001	NDB Capital Markets, LP Censure/$75,000 Lehman Brothers, Inc., Censure/$65,000 Fleet Securities, Inc., Censure/$40,000 Herzog, Heine, Geduld, Inc., Censure/$40,000 Banc of America Securities LLC, Censure/$40,000 Credit Suisse First Boston Corporation, Censure/$25,000 ING Barings LLC, Censure/$20,000 Merrill Lynch, Pierce, Fenner & Smith, Inc. Censure/$15,000 Penson Financial Services, Inc., Censure/$15,000 Chase Securities, Inc., Censure/$10,000 Ramius Securities LLC, Censure/$10,000 No individual named	David A. DeMuro, Lehman Brothers,Inc., 2002 NASD Board; 2002 NASD Finance Committee; 2002 NASD Regulation Board Richard F. Brueckner, COO, Pershing Division of Credit Suisse First Boston, 2002 NASD Board, 2002 NASD Management Compensation Committee, 2002 Executive Committee, 2002 NASD Regulation Board, Chairman 2002 NASD Finance Committee John S. Chalsty, Credit Suisse First Boston, 2002 NASD Audit Committee Stephen L. Hammerman, Merrill Lynch & Co. 2001 NASD Board, 2002 NASDR Board, 2002 NASD Executive Committee Daniel P. Tully, Chairman 2002 National Nominating Committee Banc of America:DBCC Penson:DBCC Fleet:DNC	$355,000 in fines. No individuals named.
27	NASD Regulation Fines All-Tech, Houtkin, and Other Execs $380,000 for Day Trading and Advertising Violations; Suspends Individuals June 13, 2001	All-Tech Direct, Inc. Censure/$250,00 Harvey I. Houtkin, Chairman and CEO,15 day principal suspension and 105 day supervisor suspension/$50,000 Mark D. Shefts, President; 30 day principal suspension, 90 day principal suspension/$50,000 Harry Lefkowitz, Vice President of Operations,60 day all capacities suspension, 60 day suspension supervisor/principal/$20,00 Jeffrey Sadowski, Barred f Michael Benson, 30 day suspension/$5,000 David Niederkrome, 10 day suspension/$5,000		$380,000 in fines and 6 individuals named. QUERY: Is it appropriate to reference an NASD member CEO simply by "Houtkin"? Why not CEO Houtkin or Harvey Houtkin?
28	NASD Regulation Settles Five Disciplinary Actions Involving Day-Trading June 7, 2001	Landmark Securities Corporation: Expelled and James C. Gillock, III, President; Suspended for two years principal, six months in all capacities/$50,000 Momentum Securities, LLC Censure/$50,000; CyBerBroker, Inc. (n/k/a CyBerCorp, Inc.) Censure/ $16,000/ forfeit $4,000 commissions Mark K. Stryker, President;Censure/ $16,000/ forfeit $4,000 commissions jt/sev Cornerstone Securities Corporation Censure/$35,000 and Russell A. Grigsby, President;Censure/$35,000 jt/sev Summit Trading, Inc. Censure/$20,000 and William N. Sunshine, President, Censure/$15,000 jt/sev		@$200,000 in fines/forfeitures. 4 individuals named.
29	NASD Regulation Hearing Panel Orders Josephthal & Co, Inc., Two Execs to Pay $3.3 Million in Fines and Restitution for Fraud and Unfair Dealing With Customers May 22, 2001	Josephthal & Co.$1.5 million in restitution plus interest, currently more than $750,000/$500,000 Daniel D. Purjes, CEO, Suspension pending requalification/$1.5 million in restitution plus interest, currently more than $750,000 jt/sev/$500,000/and Paul H. Fitzgerald, President $100,000		$3.3 million. 2 individuals named.
30	NASD Regulation Censures and Fines Stifel, Nicolaus & Company,and Two Individuals for the Unsuitable Sale of Class B Mutual Fund Shares April 18, 2001	Stifel, Nicolaus & Co. Censure/$41,000 Michael G. Grimes Censure/30 day suspension/$30,000 supervisor, William J. Lasko Censure/,10-day supervisory suspension/$25,000 jt/sev		$96,000 in fines. 2 individuals named.
31	NASD Regulation Fines Banc One Capital Markets, Inc. $1.8 Million For Net Capital, Customer Reserve and Recordkeeping Violations April 5, 2001	Banc One Capital Markets, Inc. Censure/$1,800,000 No individual named		$1.8 million. No individual
32	NASD Regulation Files Six Enforcement Actions Involving Marketing and Sales of Variable Annuities February 15, 2001	American United Life Insurance Company, Prudential Securities, Inc., First Union Brokerage Services, Inc., Allmerica Investments, Inc., Ralph C. Evans, Lutheran Brotherhood Securities "The sanctions in this group of settled cases include censures and fines ranging from $10,000 to $32,500 and restitution to an affected public customer."	Prudential:DBCC and DNC	Filed and settled matter. Curiously, no specificity of the fines/restitution required from each Respondent. No individual
33	NASD Regulation Censures and Fines Datek Online Brokerage Servicesfor Incorrect Confirmation Disclosure and Supervisory Failures February 8, 2001	Datek Online Brokerage Services Censure/$30,000 No individual named	Datek:DBCC	$30,000. No individual.
34	NASD Regulation Bars John Fiero, Expels Fiero Brothers, Inc., and Imposes $1 Million Fine For Illegal Short Sales, Market Manipulation and Extortion January 8, 2001	Fiero Brothers, Inc., Expelled/$1,000,000 John Fiero, CEO, Barred		$1 million. 1 individual.