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Page 1: THOMAS ANTHONY GALLO · BrokerCheck Report THOMAS ANTHONY GALLO Section Title Report Summary Broker Qualifications Registration and Employment History Disclosure Events CRD# 1705791

BrokerCheck Report

THOMAS ANTHONY GALLO

Section Title

Report Summary

Broker Qualifications

Registration and Employment History

Disclosure Events

CRD# 1705791

1

2 - 3

5 - 6

7

Page(s)

Page 2: THOMAS ANTHONY GALLO · BrokerCheck Report THOMAS ANTHONY GALLO Section Title Report Summary Broker Qualifications Registration and Employment History Disclosure Events CRD# 1705791

About BrokerCheck®

BrokerCheck offers information on all current, and many former, registered securities brokers, and all current and formerregistered securities firms. FINRA strongly encourages investors to use BrokerCheck to check the background ofsecurities brokers and brokerage firms before deciding to conduct, or continue to conduct, business with them.

· What is included in a BrokerCheck report?· BrokerCheck reports for individual brokers include information such as employment history, professional

qualifications, disciplinary actions, criminal convictions, civil judgments and arbitration awards. BrokerCheckreports for brokerage firms include information on a firm’s profile, history, and operations, as well as many of thesame disclosure events mentioned above.

· Please note that the information contained in a BrokerCheck report may include pending actions orallegations that may be contested, unresolved or unproven. In the end, these actions or allegations may beresolved in favor of the broker or brokerage firm, or concluded through a negotiated settlement with no admissionor finding of wrongdoing.

· Where did this information come from?· The information contained in BrokerCheck comes from FINRA’s Central Registration Depository, or

CRD® and is a combination of: o information FINRA and/or the Securities and Exchange Commission (SEC) require brokers and

brokerage firms to submit as part of the registration and licensing process, and o information that regulators report regarding disciplinary actions or allegations against firms or brokers.

· How current is this information?· Generally, active brokerage firms and brokers are required to update their professional and disciplinary

information in CRD within 30 days. Under most circumstances, information reported by brokerage firms, brokersand regulators is available in BrokerCheck the next business day.

· What if I want to check the background of an investment adviser firm or investment adviserrepresentative?

· To check the background of an investment adviser firm or representative, you can search for the firm orindividual in BrokerCheck. If your search is successful, click on the link provided to view the available licensingand registration information in the SEC's Investment Adviser Public Disclosure (IAPD) website athttps://www.adviserinfo.sec.gov. In the alternative, you may search the IAPD website directly or contact your statesecurities regulator at http://www.finra.org/Investors/ToolsCalculators/BrokerCheck/P455414.

· Are there other resources I can use to check the background of investment professionals?· FINRA recommends that you learn as much as possible about an investment professional before deciding

to work with them. Your state securities regulator can help you research brokers and investment adviserrepresentatives doing business in your state.

·Thank you for using FINRA BrokerCheck.

For more information aboutFINRA, visit www.finra.org.

Using this site/information meansthat you accept the FINRABrokerCheck Terms andConditions. A complete list ofTerms and Conditions can befound at

For additional information aboutthe contents of this report, pleaserefer to the User Guidance orwww.finra.org/brokercheck. Itprovides a glossary of terms and alist of frequently asked questions,as well as additional resources.

brokercheck.finra.org

Page 3: THOMAS ANTHONY GALLO · BrokerCheck Report THOMAS ANTHONY GALLO Section Title Report Summary Broker Qualifications Registration and Employment History Disclosure Events CRD# 1705791

THOMAS A. GALLO

CRD# 1705791

This broker is not currently registered.

Report Summary for this Broker

This report summary provides an overview of the broker's professional background and conduct. Additionalinformation can be found in the detailed report.

Disclosure Events

All individuals registered to sell securities or provideinvestment advice are required to disclose customercomplaints and arbitrations, regulatory actions,employment terminations, bankruptcy filings, andcriminal or civil judicial proceedings.

Are there events disclosed about this broker? Yes

The following types of disclosures have beenreported:

Type Count

Regulatory Event 3

Customer Dispute 4

Broker Qualifications

This broker is not currently registered.

This broker has passed:

1 Principal/Supervisory Exam

3 General Industry/Product Exams

1 State Securities Law Exam

Registration History

This broker was previously registered with thefollowing securities firm(s):

SPARTAN CAPITAL SECURITIES, LLCCRD# 146251NEW YORK, NY05/2017 - 04/2018

B

NEWBRIDGE SECURITIES CORPORATIONCRD# 104065NEW YORK, NY06/2015 - 05/2017

B

CORINTHIAN PARTNERS, L.L.C.CRD# 38912NEW YORK, NY02/2014 - 05/2015

B

www.finra.org/brokercheck User Guidance

1�2020 FINRA. All rights reserved. Report about THOMAS A. GALLO.

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www.finra.org/brokercheck User Guidance

Broker Qualifications

Registrations

This section provides the self-regulatory organizations (SROs) and U.S. states/territories the broker is currently registered and licensed with, thecategory of each license, and the date on which it became effective. This section also provides, for every brokerage firm with which the broker iscurrently employed, the address of each branch where the broker works.

This broker is not currently registered.

2�2020 FINRA. All rights reserved. Report about THOMAS A. GALLO.

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www.finra.org/brokercheck User Guidance

Broker Qualifications

Industry Exams this Broker has Passed

This individual has passed 1 principal/supervisory exam, 3 general industry/product exams, and 1 state securities law exam.

This section includes all securities industry exams that the broker has passed. Under limited circumstances, a broker may attain a registrationafter receiving an exam waiver based on exams the broker has passed and/or qualifying work experience. Any exam waivers that the broker hasreceived are not included below.

Exam Category Date

Principal/Supervisory Exams

General Securities Principal Examination 02/26/1992Series 24B

Exam Category Date

General Industry/Product Exams

Securities Industry Essentials Examination 04/10/2018SIEB

Investment Banking Registered Representative Examination 09/04/2014Series 79B

General Securities Representative Examination 12/30/2009Series 7B

Exam Category Date

State Securities Law Exams

Uniform Securities Agent State Law Examination 01/18/2010Series 63B

Additional information about the above exams or other exams FINRA administers to brokers and other securities professionals can be found atwww.finra.org/brokerqualifications/registeredrep/.

3�2020 FINRA. All rights reserved. Report about THOMAS A. GALLO.

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www.finra.org/brokercheck User Guidance

Broker Qualifications

Professional Designations

This section details that the representative has reported 0 professional designation(s).

No information reported.

4�2020 FINRA. All rights reserved. Report about THOMAS A. GALLO.

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Registration and Employment History

Registration History

Registration Dates Firm Name CRD# Branch Location

The broker previously was registered with the following firms:

B 05/2017 - 04/2018 SPARTAN CAPITAL SECURITIES, LLC 146251 NEW YORK, NY

B 06/2015 - 05/2017 NEWBRIDGE SECURITIES CORPORATION 104065 NEW YORK, NY

B 02/2014 - 05/2015 CORINTHIAN PARTNERS, L.L.C. 38912 NEW YORK, NY

B 01/2010 - 02/2014 GARDEN STATE SECURITIES, INC. 10083 RED BANK, NJ

B 09/2001 - 03/2003 KIRLIN SECURITIES INC. 21210 SYOSSET, NY

B 12/1991 - 09/2001 M.S. FARRELL & COMPANY, INC. 24232 SYOSSET, NY

B 04/1989 - 12/1991 D. H. BLAIR & CO., INC. 6833 NEW YORK, NY

B 07/1987 - 05/1989 SHEARSON LEHMAN HUTTON INC. 7506

Employment History

Employment Employer Name Investment RelatedPosition Employer Location

This section provides up to 10 years of an individual broker's employment history as reported by the individual broker on the most recently filedForm U4.

Please note that the broker is required to provide this information only while registered with FINRA or a national securities exchangeand the information is not updated via Form U4 after the broker ceases to be registered. Therefore, an employment end date of"Present" may not reflect the broker's current employment status.

05/2017 - Present Spartan Capital Securities LLC REGISTEREDREPRESENTATIVE

Y NEW YORK, NY, UnitedStates

06/2015 - 05/2017 NEWBRIDGE SECURITIESCORPORATION

REGISTEREDREPRESENTATIVE

Y RUMSON, NJ, United States

01/2009 - 05/2017 23 MECHANIC ADV., LLC CONSULTANT N SHREWSBURY, NJ, UnitedStates

12/2009 - 02/2014 GARDEN STATE SECURITIES, INC. REGISTERED REP Y TINTON FALLS, NJ, UnitedStates

5�2020 FINRA. All rights reserved. Report about THOMAS A. GALLO.

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Registration and Employment History

Other Business Activities

This section includes information, if any, as provided by the broker regarding other business activities the broker is currently engaged in either asa proprietor, partner, officer, director, employee, trustee, agent or otherwise. This section does not include non-investment related activity that isexclusively charitable, civic, religious or fraternal and is recognized as tax exempt.

Notis Global (NGBL), Director of Board of Directors, as of May 2017

6�2020 FINRA. All rights reserved. Report about THOMAS A. GALLO.

Page 9: THOMAS ANTHONY GALLO · BrokerCheck Report THOMAS ANTHONY GALLO Section Title Report Summary Broker Qualifications Registration and Employment History Disclosure Events CRD# 1705791

www.finra.org/brokercheck User Guidance

Disclosure Events

What you should know about reported disclosure events:

1. All individuals registered to sell securities or provide investment advice are required to disclose customer complaints and arbitrations,regulatory actions, employment terminations, bankruptcy filings, and criminal or civil judicial proceedings.

2. Certain thresholds must be met before an event is reported to CRD, for example: o A law enforcement agency must file formal charges before a broker is required to disclose a particular criminal event. o A customer dispute must involve allegations that a broker engaged in activity that violates certain rules or conduct governing the

industry and that the activity resulted in damages of at least $5,000. o

3. Disclosure events in BrokerCheck reports come from different sources: o As mentioned at the beginning of this report, information contained in BrokerCheck comes from brokers, brokerage firms and

regulators. When more than one of these sources reports information for the same disclosure event, all versions of the event willappear in the BrokerCheck report. The different versions will be separated by a solid line with the reporting source labeled.

o4. There are different statuses and dispositions for disclosure events:

o A disclosure event may have a status of pending, on appeal, or final.§ A "pending" event involves allegations that have not been proven or formally adjudicated.§ An event that is "on appeal" involves allegations that have been adjudicated but are currently being appealed.§ A "final" event has been concluded and its resolution is not subject to change.

o A final event generally has a disposition of adjudicated, settled or otherwise resolved.§ An "adjudicated" matter includes a disposition by (1) a court of law in a criminal or civil matter, or (2) an administrative

panel in an action brought by a regulator that is contested by the party charged with some alleged wrongdoing.§ A "settled" matter generally involves an agreement by the parties to resolve the matter. Please note that brokers and

brokerage firms may choose to settle customer disputes or regulatory matters for business or other reasons.§ A "resolved" matter usually involves no payment to the customer and no finding of wrongdoing on the part of the

individual broker. Such matters generally involve customer disputes.

For your convenience, below is a matrix of the number and status of disclosure events involving this broker. Further informationregarding these events can be found in the subsequent pages of this report. You also may wish to contact the broker to obtain furtherinformation regarding these events.

Final On AppealPending

Regulatory Event 0 3 0

Customer Dispute 1 3 N/A

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Disclosure Event Details

When evaluating this information, please keep in mind that a discloure event may be pending or involve allegations that are contested and havenot been resolved or proven. The matter may, in the end, be withdrawn, dismissed, resolved in favor of the broker, or concluded through anegotiated settlement for certain business reasons (e.g., to maintain customer relationships or to limit the litigation costs associated with disputingthe allegations) with no admission or finding of wrongdoing.

This report provides the information exactly as it was reported to CRD and therefore some of the specific data fields contained in the report maybe blank if the information was not provided to CRD.

Regulatory - Final

This type of disclosure event may involve (1) a final, formal proceeding initiated by a regulatory authority (e.g., a state securities agency, self-regulatory organization, federal regulatory such as the Securities and Exchange Commission, foreign financial regulatory body) for a violation ofinvestment-related rules or regulations; or (2) a revocation or suspension of a broker's authority to act as an attorney, accountant, or federalcontractor.

Disclosure 1 of 3

Reporting Source: Regulator

Regulatory Action InitiatedBy:

FINRA

Sanction(s) Sought:

Date Initiated: 02/12/2019

Docket/Case Number: 2017053921601

Employing firm when activityoccurred which led to theregulatory action:

Corinthian Partners, L.L.C.

Product Type: Promissory Note

Allegations: Without admitting or denying the findings, Gallo consented to the sanctions and tothe entry of findings that he contravened Sections 17(a)(2) and 17(a)(3) of theSecurities Act of 1933 (Securities Act), and thereby violated FINRA Rule 2010 bynegligently misrepresenting a material fact in the sale of promissory notes to twoinvestors. The findings stated that the purpose of the convertible promissory noteoffering (private placement) was to provide the company offering the promissorynote a bridge loan to finance its operations until it received anticipated long-termfinancing through a public offering. Gallo's member firm acted as placement agenton the private placement and Gallo received a total of $8,000 in compensation inconnection with the investments. Gallo negligently represented to the investorsthat the company had a firm commitment offering in place. The misrepresentationwas material because the company's payment of interest on the privateplacements and each investor's recovery of their principal investment depended onthe company raising significant capital in the anticipated public offering and/or onthe ability of the investors to sell the company stock that they received inconnection with the private placement. The public offering for the company wasconducted on a best-efforts basis and did not raise the anticipated level of capital.Consequently, the company stock price dropped significantly, and the twoinvestors lost money from the private placement, totaling approximately $33,337.

8�2020 FINRA. All rights reserved. Report about THOMAS A. GALLO.

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Without admitting or denying the findings, Gallo consented to the sanctions and tothe entry of findings that he contravened Sections 17(a)(2) and 17(a)(3) of theSecurities Act of 1933 (Securities Act), and thereby violated FINRA Rule 2010 bynegligently misrepresenting a material fact in the sale of promissory notes to twoinvestors. The findings stated that the purpose of the convertible promissory noteoffering (private placement) was to provide the company offering the promissorynote a bridge loan to finance its operations until it received anticipated long-termfinancing through a public offering. Gallo's member firm acted as placement agenton the private placement and Gallo received a total of $8,000 in compensation inconnection with the investments. Gallo negligently represented to the investorsthat the company had a firm commitment offering in place. The misrepresentationwas material because the company's payment of interest on the privateplacements and each investor's recovery of their principal investment depended onthe company raising significant capital in the anticipated public offering and/or onthe ability of the investors to sell the company stock that they received inconnection with the private placement. The public offering for the company wasconducted on a best-efforts basis and did not raise the anticipated level of capital.Consequently, the company stock price dropped significantly, and the twoinvestors lost money from the private placement, totaling approximately $33,337.

Current Status: Final

Resolution: Acceptance, Waiver & Consent(AWC)

Resolution Date: 02/12/2019

Sanctions Ordered:

Does the order constitute afinal order based onviolations of any laws orregulations that prohibitfraudulent, manipulative, ordeceptive conduct?

No

Civil and Administrative Penalty(ies)/Fine(s)RestitutionSuspension

If the regulator is the SEC,CFTC, or an SRO, did theaction result in a finding of awillful violation or failure tosupervise?

No

(1) willfully violated anyprovision of the SecuritiesAct of 1933, the SecuritiesExchange Act of 1934, theInvestment Advisers Act of1940, the InvestmentCompany Act of 1940, theCommodity Exchange Act, orany rule or regulation underany of such Acts, or any ofthe rules of the MunicipalSecurities Rulemaking Board,or to have been unable tocomply with any provision ofsuch Act, rule or regulation?

9�2020 FINRA. All rights reserved. Report about THOMAS A. GALLO.

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(1) willfully violated anyprovision of the SecuritiesAct of 1933, the SecuritiesExchange Act of 1934, theInvestment Advisers Act of1940, the InvestmentCompany Act of 1940, theCommodity Exchange Act, orany rule or regulation underany of such Acts, or any ofthe rules of the MunicipalSecurities Rulemaking Board,or to have been unable tocomply with any provision ofsuch Act, rule or regulation?

(2) willfully aided, abetted,counseled, commanded,induced, or procured theviolation by any person ofany provision of theSecurities Act of 1933, theSecurities Exchange Act of1934, the InvestmentAdvisers Act of 1940, theInvestment Company Act of1940, the CommodityExchange Act, or any rule orregulation under any of suchActs, or any of the rules ofthe Municipal SecuritiesRulemaking Board? or

(3) failed reasonably tosupervise another personsubject to your supervision,with a view to preventing theviolation by such person ofany provision of theSecurities Act of 1933, theSecurities Exchange Act of1934, the InvestmentAdvisers Act of 1940, theInvestment Company Act of1940, the CommodityExchange Act, or any rule orregulation under any suchActs, or any of the rules ofthe Municipal SecuritiesRulemaking Board?

10�2020 FINRA. All rights reserved. Report about THOMAS A. GALLO.

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(3) failed reasonably tosupervise another personsubject to your supervision,with a view to preventing theviolation by such person ofany provision of theSecurities Act of 1933, theSecurities Exchange Act of1934, the InvestmentAdvisers Act of 1940, theInvestment Company Act of1940, the CommodityExchange Act, or any rule orregulation under any suchActs, or any of the rules ofthe Municipal SecuritiesRulemaking Board?

Capacities Affected: All capacities

Duration: 60 days

Start Date: 02/18/2019

End Date: 04/18/2019

Sanction 1 of 1

Sanction Type: Suspension

Monetary Related Sanction: Restitution

Total Amount: $33,337.00

Portion Levied againstindividual:

$33,337.00

Date Paid by individual:

Was any portion of penaltywaived?

No

Amount Waived:

Monetary Sanction 1 of 2

Payment Plan: deferred; plus interest

Is Payment Plan Current:

Monetary Sanction 2 of 2

11�2020 FINRA. All rights reserved. Report about THOMAS A. GALLO.

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Monetary Related Sanction: Civil and Administrative Penalty(ies)/Fine(s)

Total Amount: $10,000.00

Portion Levied againstindividual:

$10,000.00

Date Paid by individual:

Was any portion of penaltywaived?

No

Amount Waived:

Payment Plan: deferred

Is Payment Plan Current:

Disclosure 2 of 3

i

Reporting Source: Regulator

Regulatory Action InitiatedBy:

NASD NKA FINRA

Sanction(s) Sought:

Other Sanction(s) Sought:

Date Initiated: 04/11/2006

Docket/Case Number: 04-03406

Employing firm when activityoccurred which led to theregulatory action:

Product Type: No Product

Other Product Type(s):

Allegations: RESPONDENT FAILED TO COMPLY WITH AN ARBITRATION AWARD ORSETTLEMENT AGREEMENT OR TO SATISFACTORILY RESPOND TO AN NASDREQUEST TO PROVIDE INFORMATION CONCERNING THE STATUS OFCOMPLIANCE.

Current Status: Final

Resolution: Other

Does the order constitute afinal order based onviolations of any laws orregulations that prohibitfraudulent, manipulative, ordeceptive conduct?

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Resolution Date: 04/11/2006

Sanctions Ordered:

Other Sanctions Ordered:

Sanction Details: PURSUANT TO ARTICLE VI, SECTION 3 OF NASD BY-LAWS, AND NASD RULE9510 SERIES, RESPONDENT'S NASD REGISTRATION IS SUSPENDED APRIL11, 2006 FOR FAILING TO COMPLY WITH AN ARBITRATION AWARD ORSETTLEMENT AGREEMENT OR TO SATISFACTORILY RESPOND TO AN NASDREQUEST TO PROVIDE INFORMATION CONCERNING THE STATUS OFCOMPLIANCE.SUSPENSION LIFTED SEPTEMBER 17, 2008; FINRA RECEIVEDNOTIFICATION THAT THE AWARD OR SETTLEMENT AGREEMENT HAS BEENSATISFIED OR SATISFACTORY INFORMATION SHOWING VALID REASONSFOR NON-COMPLIANCE.

Does the order constitute afinal order based onviolations of any laws orregulations that prohibitfraudulent, manipulative, ordeceptive conduct?

No

Suspension

iReporting Source: Broker

Regulatory Action InitiatedBy:

FINRA

Sanction(s) Sought: Suspension

Date Initiated: 04/11/2006

Docket/Case Number: 04-03406

Employing firm when activityoccurred which led to theregulatory action:

KIRLIN SECURITIES

Product Type: Other: PRIVATE PLACEMENT

Allegations: FAILURE TO COMPLY WITH AN ARBITRATION AWARD OR SETTLEMENTAGREEMENT OR TO SATISFACTORILY RESPOND TO AN NASD REQUEST TOPROVIDE INFORMATION CONCERNING THE STATUS OF COMPLIANCE.

Current Status: Final

Resolution:13�2020 FINRA. All rights reserved. Report about THOMAS A. GALLO.

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Resolution: AWARD

Resolution Date: 01/11/2006

Sanctions Ordered:

Broker Statement THE FOLLOWING COMMENTS ARE IN REFERENCE TO QUESTION 14E (4),WHICH INDICATES A RESPONSE TO CONFIRM THAT A SUSPENSION WITH AMEMBER FIRM HAS BEEN IMPLEMENTED ON MY LICENSE FOR THEPERIOD OF APRIL 11, 2006 AND ENDING ON SEPTEMBER 17, 2008.

ON MARCH 25, 2003 I RESIGNED ALL OF MY POSITIONS AT KIRLINSECURITIES TO PURSUE OTHER BUSINESS INTERESTS OUTSIDE OF THESECURITIES INDUSTRY. MY SECURITIES LICENSES LAPSED IN MARCH,2005.

THE "SUSPENSION" IMPOSED BY FINRA RELATES TO THE PAYMENT OF ANARBITRATION AWARD WHICH WAS RENDERED LONG AFTER MYSECURITIES LICENSES HAD LAPSED. AS FINRA'S RECORDS REFLECT,THE AWARD WAS PAID IN FULL. I AM AT A LOSS TO UNDERSTAND WHY ASUSPENSION WAS EVER IMPOSED.

TOM GALLO

Does the order constitute afinal order based onviolations of any laws orregulations that prohibitfraudulent, manipulative, ordeceptive conduct?

No

Suspension

Capacities Affected: ALL CAPACITIES

Duration: 2 YEARS

Start Date: 04/11/2006

End Date: 09/17/2008

Sanction 1 of 1

Sanction Type: Suspension

Disclosure 3 of 3

i

Reporting Source: Regulator

Regulatory Action InitiatedBy:

NATIONAL ASSOCIATION OF SECURITIES DEALERS, INC.

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Sanction(s) Sought:

Date Initiated: 10/22/2001

Docket/Case Number: C10010129

Employing firm when activityoccurred which led to theregulatory action:

M.S. FARRELL & COMPANY, INC.

Product Type: No Product

Allegations: NASD RULES 1120(A),2110,3010(B)(1),3070,3070(A)(7), 3070(A)(8), 3070(C) -WITHOUT ADMITTING OR DENYING THE ALLEGATIONS, THE RESPONDENTCONSENTED TO THE ENTRY OF FINDINGS THAT, A MEMBER FIRM, ACTINGTHROUGH GALLO, CONTINUED TO CONDUCT A SECURITIES BUSINESSALTHOUGH THE FIRM'S MEMBERSHIP HAD BEEN SUSPENDED FORFAILURE TO PAY AN ARBITRATION AWARD;A MEMBER FIRM, ACTINGTHROUGH GALLO, FAILED TO REPORT TO THE NASD STATISTICAL ANDSUMMARY INFORMATION REGARDING CUSTOMER COMPLAINTSRECEIVED BY THE FIRM, FAILED TO REPORT TO THE NASD ANARBITRATION THE FIRM SETTLED FOR AN AMOUNT EXCEEDING $25,000,AND FAILED TO REPORT TO THE NASD CUSTOMER CLAIMS THAT THE FIRMSETTLED FOR AMOUNTS EXCEEDING $25,000; A MEMBER FIRM, ACTINGTHROUGH GALLO, PERMITTED INDIVIDUALS ASSOCIATED WITH THE FIRMTO ACT AS REGISTERED PERSONS WHILE INACTIVE DUE TO FAILURE TOCOMPLETE THE REGULATORY ELEMENT OF THE NASD'S CONTINUINGEDUCATION REQUIREMENT; ACTED AS A REGISTERED PERSON WHILE HISREGISTRATION STATUS WAS INACTIVE DUE TO HIS FAILURE TOCOMPLETE THE REGULATORY ELEMENT OF THE NASD'S CONTINUINGEDUCATION REQUIREMENT; AND A MEMBER FIRM,ACTING THROUGHGALLO, FAILED TO ESTABLISH AND MAINTAIN WRITTEN SUPERVISORYPROCEDURES REASONABLY DESIGNED TO ENSURE COMPLIANCE WITHTHE REGULATORY ELEMENT OF THE NASD'S CONTINUING EDUCATIONREQUIREMENTS.

Current Status: Final

Resolution: Acceptance, Waiver & Consent(AWC)

Resolution Date: 10/22/2001

Sanctions Ordered:

Regulator Statement CENSURED AND FINED $25,000, JOINTLY AND SEVERALLY. FINES PAID07/05/2002.

CensureCivil and Administrative Penalty(ies)/Fine(s)

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iReporting Source: Broker

Regulatory Action InitiatedBy:

NATIONAL ASSOCIATION OF SECURITIES DEALERS, INC.

Sanction(s) Sought: Censure

Other Sanction(s) Sought:

Date Initiated: 10/22/2001

Docket/Case Number: C10010129

Employing firm when activityoccurred which led to theregulatory action:

M.S. FARRELL & COMPANY, INC.

Product Type: No Product

Other Product Type(s):

Allegations: WITHOUT ADMITTING OR DENYING THE ALLEGATIONS, AND SOLELY FORTHE PURPOSES OF PROCEEDING NUMBER C10010129, RESPONDENTCONSENTED TO A FINDING THAT NASD RULES 1120(A), 2110, 3010(B)(1),3070, 3070(A)(7), 3070(A)(8) WERE VIOLATED.

Current Status: Final

Resolution: Acceptance, Waiver & Consent(AWC)

Resolution Date: 10/22/2001

Sanctions Ordered:

Other Sanctions Ordered:

Sanction Details: CENSURED AND FINED 25,000.00.

CensureMonetary/Fine $25,000.00

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Customer Dispute - Award / Judgment

This type of disclosure event involves a final, consumer-initiated, investment-related arbitration or civil suit containing allegations of sales practiceviolations against the broker that resulted in an arbitration award or civil judgment for the customer.

Disclosure 1 of 3

Reporting Source: Regulator

Employing firm whenactivities occurred which ledto the complaint:

Allegations:

KIRLIN SECURITIES, INC., M.S. FARRELL & CO., INC.

UNSUITABILITY, BREACH OF CONTRACT, MISREPRESENTATION, BREACHOF FIDUCIARY DUTY.

Product Type: Other

Other Product Type(s): STOCK

Alleged Damages: $165,864.42

Arbitration/Reparation Claimfiled with and Docket/CaseNo.:

NASD - CASE #04-03406

Date Notice/Process Served: 05/03/2004

Arbitration Pending? No

Disposition: Award

Disposition Date: 01/11/2006

Disposition Detail: RESPONDENT IS JOINTLY AND SEVERALLY LIABLE FOR AND SHALL PAY TOCLAIMANT COMPENSATORY DAMAGES IN THE AMOUNT OF $50,000.00PLUS INTEREST.

Arbitration Information

iReporting Source: Firm

Employing firm whenactivities occurred which ledto the complaint:

Allegations:

M.S. FARRELL

SUITABILITY AND BREACH OF FIDUCIARY DUTIES

Product Type: Other

Other Product Type(s): PRIVATE PLACEMENT

$165,564.4217�2020 FINRA. All rights reserved. Report about THOMAS A. GALLO.

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Alleged Damages: $165,564.42

Date Complaint Received: 06/03/2004

Complaint Pending? No

Status:

Status Date: 06/03/2004

Settlement Amount:

Individual ContributionAmount:

Arbitration/Reparation Claimfiled with and Docket/CaseNo.:

NASD ARBITRATION #04-3406NY

Date Notice/Process Served: 06/03/2004

Arbitration Pending? Yes

Customer Complaint Information

Arbitration Information

Arbitration/Reparation

iReporting Source: Broker

Employing firm whenactivities occurred which ledto the complaint:

Allegations:

KIRLIN SECURITIES, INC. ; M.S. FARRELL & CO

SUITABILITY, BREACH OF CONTRACT, MISREPRESENTATION, BREACH OFFIDUCIARY DUTY

Product Type: Other: PRIVATE PLACEMENT

Alleged Damages: $165,864.82

Is this an oral complaint? No

Is this a written complaint? Yes

Is this an arbitration/CFTCreparation or civil litigation?

Yes

Arbitration/Reparation forumor court name and location:

FINRA - OH

Docket/Case #: 04-03406

Filing date ofarbitration/CFTC reparationor civil litigation:

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Date Complaint Received: 06/03/2004

Complaint Pending? No

Status:

Status Date: 01/11/2006

Settlement Amount: $50,000.00

Individual ContributionAmount:

$50,000.00

Date Notice/Process Served: 06/03/2004

Arbitration Pending? No

Disposition: Award to Customer

Disposition Date: 01/11/2006

Monetary CompensationAmount:

$50,000.00

Customer Complaint Information

Arbitration Information

Individual ContributionAmount:

$50,000.00

Arbitration Award/Monetary Judgment (for claimants/plaintiffs)

Filing date ofarbitration/CFTC reparationor civil litigation:

05/03/2004

Arbitration/CFTC reparationclaim filed with (FINRA, AAA,CFTC, etc.):

05/03/2004

Docket/Case #: 04-03406

Disclosure 2 of 3

i

Reporting Source: Regulator

Employing firm whenactivities occurred which ledto the complaint:

Allegations:

M.S. FARRELL & CO., INC.

BREACH OF CONTRACT; COMMON LAW FRAUD; BREACH OF FIDUCIARYDUTY; BREACH OF THE DUTY OF GOOD FAITH AND FAIR DEALING;NEGLIGENCE; CHURNING

Mutual Fund(s)19�2020 FINRA. All rights reserved. Report about THOMAS A. GALLO.

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Product Type: Mutual Fund(s)

Other Product Type(s): STOCKS

Alleged Damages: $182,759.00

Arbitration/Reparation Claimfiled with and Docket/CaseNo.:

NASD - CASE #01-02243

Date Notice/Process Served: 04/30/2001

Arbitration Pending? No

Disposition: Award

Disposition Date: 08/30/2002

Disposition Detail: RESPONDENT IS JOINTLY AND SEVERALLY LIABLE AND SHALL PAY TOCLAIMANT $32,783.60 AS COMPENSATORY DAMAGES, PLUS INTEREST.

Arbitration Information

iReporting Source: Broker

Employing firm whenactivities occurred which ledto the complaint:

Allegations:

MS FARRELL & CO.

BREACH OF FIDUCIARY DUTY, FAILURE TO SUPERVISE.

Product Type: Equity - OTC

Other Product Type(s): MUTUAL FUNDS

Alleged Damages: $182,759.00

Date Complaint Received: 04/30/2001

Complaint Pending? No

Status:

Status Date: 04/30/2001

Settlement Amount:

Individual ContributionAmount:

Customer Complaint Information

Arbitration Information

Arbitration/Reparation

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Arbitration/Reparation Claimfiled with and Docket/CaseNo.:

NASD CASE NUMBER 01-02243

Date Notice/Process Served: 04/30/2001

Arbitration Pending? No

Disposition: Award to Customer

Disposition Date: 08/30/2002

Monetary CompensationAmount:

$32,783.60

Broker Statement RESPONDENTS ARE JOINTLY LIABLE AND SHALL PAY TO THE CLAIMANTTHE SUM OF $32,783.60 PLUS INTEREST.I WAS NOT THE CUSTOMER'S BROKER AND I NEVER HAD ANY CONTACTWITH THE CUSTOMER. I WAS NOT NAMED IN THE ORIGINAL STATEMENTOF CLAIM, BUT WAS ADDED LATER ON AS BEING THE BROKER'SSUPERVISOR.

Arbitration Information

Individual ContributionAmount:

$3,500.00

Disclosure 3 of 3

i

Reporting Source: Regulator

Employing firm whenactivities occurred which ledto the complaint:

Allegations:

D.H. BLAIR & CO., INC.

SUITABILITY; MISREPRESENTATION; ACCOUNTRELATED - FAILURE TO SUPERVISE; ACCOUNT RELATED-OTHER

Product Type: Penny Stock(s)

Alleged Damages: $73,000.00

Arbitration/Reparation Claimfiled with and Docket/CaseNo.:

NASD - CASE #93-04751

Date Notice/Process Served: 11/29/1993

Arbitration Pending? No

Disposition: Award

Arbitration Information

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Disposition: Award

Disposition Date: 10/05/1994

Disposition Detail: THE RESPONDENT THOMAS GALLO BE AND HEREBY IS LIABLE ANDSHALLPAY TO THE CLAIMANTS THE SUM OF $31,000.00.

iReporting Source: Firm

Employing firm whenactivities occurred which ledto the complaint:

Allegations:

D.H. BLAIR & CO., INC.

MISREPRESENTATION AND UNSUITABLERECOMMENDATIONS ALLEGED DAMAGES ARE $73,000.

Product Type:

Alleged Damages: $73,000.00

Date Complaint Received:

Complaint Pending? No

Status:

Status Date:

Settlement Amount:

Individual ContributionAmount:

Arbitration/Reparation Claimfiled with and Docket/CaseNo.:

National Association of Securities Dealers, Inc.; 93-04751

Date Notice/Process Served: 11/29/1993

Arbitration Pending? Yes

Firm Statement N/ANot Provided

Customer Complaint Information

Arbitration Information

Arbitration/Reparation

iReporting Source: Broker

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Employing firm whenactivities occurred which ledto the complaint:

Allegations:

D.H. BLAIR & CO., INC.

UNSUITABILITY AND RELATED CLAIMS.

Product Type: Penny Stock(s)

Alleged Damages: $73,000.00

Date Complaint Received: 11/15/1993

Complaint Pending? No

Status:

Status Date: 11/15/1993

Settlement Amount:

Individual ContributionAmount:

Arbitration/Reparation Claimfiled with and Docket/CaseNo.:

NATIONAL ASSOCIATION OF SECURITIES DEALERS, INC.; 93-04751

Date Notice/Process Served: 11/29/1993

Arbitration Pending? No

Disposition: Award to Customer

Disposition Date: 10/05/1994

Monetary CompensationAmount:

$38,000.00

Customer Complaint Information

Arbitration Information

Individual ContributionAmount:

$31,000.00

Arbitration/Reparation

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Customer Dispute - Pending

This type of disclosure event involves (1) a pending consumer-initiated, investment-related arbitration or civil suit that contains allegations of salespractice violations against the broker; or (2) a pending, consumer-initiated, investment-related written complaint containing allegations that thebroker engaged in, sales practice violations resulting in compensatory damages of at least $5,000, forgery, theft, or misappropriation, orconversion of funds or securities.

Disclosure 1 of 1

Reporting Source: Firm

Employing firm whenactivities occurred which ledto the complaint:

Allegations:

Corinthian Partners, LLC

Misrepresentation or misleading information. Unsuitable recommendations.

Product Type: Other: private placement

Alleged Damages: $35,000.00

Date Complaint Received: 06/09/2017

Complaint Pending? Yes

Settlement Amount:

Individual ContributionAmount:

Customer Complaint Information

Alleged Damages AmountExplanation (if amount notexact):

$50,000 originally but he received $15,000 and the security is still trading.

Is this an oral complaint? No

Is this a written complaint? Yes

Is this an arbitration/CFTCreparation or civil litigation?

No

iReporting Source: Broker

Employing firm whenactivities occurred which ledto the complaint:

Allegations:

Corinthian Partners, LLC

Misrepresentation or misleading information. Unsuitable recommendations.

Other: Private Placement

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Product Type: Other: Private Placement

Alleged Damages: $35,000.00

Date Complaint Received: 07/10/2017

Complaint Pending? Yes

Settlement Amount:

Individual ContributionAmount:

Broker Statement Mr. Gallo has not seen a copy of the complaint

Customer Complaint Information

Alleged Damages AmountExplanation (if amount notexact):

$50,000 originally but he received $15,000 and the security is still trading.

Is this an oral complaint? No

Is this a written complaint? Yes

Is this an arbitration/CFTCreparation or civil litigation?

No

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