CAPITAL GROWTH FINANCIAL L.L.C.

05/16/2006: NASD LETTER OF ACCEPTANCE, WAIVER AND CONSENT NO. E0720050043 TO: Department of Enforcement NASD RE: Capital Growth Financial, L.L.C., Respondent Broker-Dealer [CRD No. 41040] Michael Scott Jacobs, Respondent General Securities Principal [CRD No. 1818665] Pursuant to Rule 9216 of the NASD Code of Procedure, Respondents submit this Letter of Acceptance, Waiver and Consent ("AWC") for the purpose of proposing a settlement of the alleged rule violations described in Part II below. This AWC is submitted on the

Reference E072005004301data-portal.finra.orgfinra.org

02/15/2006: NASD LETTER OF ACCEPTANCE, WAIVER AND CONSENT NO. E072003099001 TO: Department of Enforcement NASD RE: Capital Growth Financial, LLC, Respondent Member CRD No. 41040 Michael S. Jacobs, Respondent General Securities Principal CRD No. 1818665 Michael B. Falken, Respondent General Securities Principal CRD No. 862958 Pursuant to Rule 9216 of NASD Code of Procedure, Respondents submit this Letter of Acceptance, Waiver and Consent ("AWC") for the purpose of proposing a settlement of the alleged rule

Reference E072003099001data-portal.finra.orgfinra.org

05/14/2007: NASD LETTER OF ACCEPTANCE, WAIVER AND CONSENT NO. 20050002401-01 TO: Department of Market Regulation NASD RE: Capital Growth Financial, LLC ("CGFL"), Respondent Broker-Dealer CRD No. 41040 Pursuant to Rule 9216 of NASD Code of Procedure, Capital Growth Financial, LLC (the "firm") submits this Letter of Acceptance, Waiver and Consent ("AWC") for the purpose of proposing a settlement of the alleged rule violations described in Part II below. This AWC is submitted on the condition

Reference 2005000240101data-portal.finra.orgfinra.org