Universa Investments L.P.

Allegations: ON SEPTEMBER 8, 2010, NYSE AMEX LLC INITIATED A SETTLED ENFORCEMENT PROCEEDING AGAINST BRANDON YARCKIN AND DANIEL TOSTO IN CONNECTION WITH THEIR EMPLOYMENT AT A BROKER-DEALER IN 2006. MR. YARCKIN, WITHOUT ADMITTING OR DENYING THE ALLEGATIONS, CONSENTED TO A SETTLEMENT OF THE ACTION. THE ACTION ALLEGED VIOLATIONS OF AMEX RULE 16, SECTION 17(A) OF THE SECURITIES EXCHANGE ACT OF 1934, RULES 17A-3 AND 17A-4, AMEX RULE 324, 343 AND 481(A) AND (B) IN CONNECTION WITH CERTAIN TRADES IN INSTITUTIONAL CUSTOMER ACCOUNTS ON ONE AFTERNOON IN 2006. IN ADDITION, THE ACTION ALLEGED THAT MESSRS. YARCKIN AND TOSTO DISSEMINATED RESEARCH REPORTS WITHOUT REVIEW BY A SUPERVISOR APPROVED BY AMEX. THE EVENTS UNDERLYING THE ACTION OCCURRED WHILE MR. YARCKIN WAS ASSOCIATED WITH THE TRADING DESK OF A BROKER-DEALER, AMERIVEST PARTNERS, L.L.C. PURSUANT TO THE SETTLEMENT, AND WITHOUT ADMITTING OR DENYING THE ALLEGATIONS, MR. YARCKIN WAS FOUND TO HAVE (1) VIOLATED AMEX RULE 16 BY FAILING TO ADHERE TO THE PRINCIPLES OF GOOD BUSINESS PRACTICE; (2) CAUSED VIOLATIONS OF SECTION 17(A) OF THE SECURITIES EXCHANGE ACT OF 1934 AND RULES 17A-3 AND 17A-4 THEREUNDER, AND AMEX RULE 324 BY CAUSING HIS MEMBER FIRM EMPLOYER TO FAIL TO KEEP TRUE AND COMPLETE BOOKS OF ACCOUNT AND RECORDS ADEQUATELY SETTING FORTH THE TRANSACTIONS OF SUCH MEMBERS AND MEMBER ORGANIZATIONS; AND (3) VIOLATED AMEX RULES 343 AND 481(A) AND (B) BY DISTRIBUTING RESEARCH REPORTS TO THE PUBLIC THAT WERE NOT PREPARED, REVIEWED OR APPROVED BY A SUPERVISORY ANALYST ACCEPTABLE TO AMEX. MR. YARCKIN CONSENTED TO CENSURE, A $50,000 FINE, A ONE-MONTH BAR FROM ASSOCIATION WITH ANY NYSE AMEX TRADING PERMIT HOLDER OR BROKER/DEALER, AND AN UNDERTAKING TO COOPERATE WITH FINRA MARKET REGULATION AND TESTIFY TRUTHFULLY IN CONNECTION WITH ANY OTHER DISCIPLINARY PROCEEDINGS RELATING TO MATTERS SET FORTH IN THE STIPULATION OF FACTS AND CONSENT TO PENALTY. THE SETTLEMENT WAS FORMALLY APPROVED EFFECTIVE AS OF NOVEMBER 29, 2010. Status: Final Sanction Detail: ONE MONTH BAR EFFECTIVE AS OF CLOSE OF BUSINESS DECEMBER 3, 2010. $50,000 FINE TO BE PAID WITHIN 45 DAYS OF CLOSE OF BUSINESS NOVEMBER 29, 2010. Summary: ON SEPTEMBER 8, 2010, NYSE AMEX LLC INITIATED A SETTLED ENFORCEMENT PROCEEDING AGAINST BRANDON YARCKIN AND DANIEL TOSTO IN CONNECTION WITH THEIR EMPLOYMENT AT A BROKER-DEALER IN 2006. MR. YARCKIN, WITHOUT ADMITTING OR DENYING THE ALLEGATIONS, CONSENTED TO A SETTLEMENT OF THE ACTION. THE ACTION ALLEGED VIOLATIONS OF AMEX RULE 16, SECTION 17(A) OF THE SECURITIES EXCHANGE ACT OF 1934, RULES 17A-3 AND 17A-4, AMEX RULE 324, 343 AND 481(A) AND (B) IN CONNECTION WITH CERTAIN TRADES IN INSTITUTIONAL CUSTOMER ACCOUNTS ON ONE AFTERNOON IN 2006. IN ADDITION, THE ACTION ALLEGED THAT MESSRS. YARCKIN AND TOSTO DISSEMINATED RESEARCH REPORTS WITHOUT REVIEW BY A SUPERVISOR APPROVED BY AMEX. THE EVENTS UNDERLYING THE ACTION OCCURRED WHILE MR. YARCKIN WAS ASSOCIATED WITH THE TRADING DESK OF A BROKER-DEALER, AMERIVEST PARTNERS, L.L.C. PURSUANT TO THE SETTLEMENT, AND WITHOUT ADMITTING OR DENYING THE ALLEGATIONS, MR. YARCKIN WAS FOUND TO HAVE (1) VIOLATED AMEX RULE 16 BY FAILING TO ADHERE TO THE PRINCIPLES OF GOOD BUSINESS PRACTICE; (2) CAUSED VIOLATIONS OF SECTION 17(A) OF THE SECURITIES EXCHANGE ACT OF 1934 AND RULES 17A-3 AND 17A-4 THEREUNDER, AND AMEX RULE 324 BY CAUSING HIS MEMBER FIRM EMPLOYER TO FAIL TO KEEP TRUE AND COMPLETE BOOKS OF ACCOUNT AND RECORDS ADEQUATELY SETTING FORTH THE TRANSACTIONS OF SUCH MEMBERS AND MEMBER ORGANIZATIONS; AND (3) VIOLATED AMEX RULES 343 AND 481(A) AND (B) BY DISTRIBUTING RESEARCH REPORTS TO THE PUBLIC THAT WERE NOT PREPARED, REVIEWED OR APPROVED BY A SUPERVISORY ANALYST ACCEPTABLE TO AMEX. MR. YARCKIN CONSENTED TO CENSURE, A $50,000 FINE, A ONE-MONTH BAR FROM ASSOCIATION WITH ANY NYSE AMEX TRADING PERMIT HOLDER OR BROKER/DEALER, AND AN UNDERTAKING TO COOPERATE WITH FINRA MARKET REGULATION AND TESTIFY TRUTHFULLY IN CONNECTION WITH ANY OTHER DISCIPLINARY PROCEEDINGS RELATING TO MATTERS SET FORTH IN THE STIPULATION OF FACTS AND CONSENT TO PENALTY. THE SETTLEMENT WAS FORMALLY APPROVED EFFECTIVE AS OF NOVEMBER 29, 2010.