ACAP FINANCIAL INC.

05/11/2006: NASD LETTER OF ACCEPTANCE, WAIVER AND CONSENT 20050001145-01 TO: Department of Market Regulation NASD RE: ACAP Financial Inc. - Respondent Broker Dealer CRD No. 7731 Pursuant to Rule 9216 of NASD Code of Procedure, ACAP Financial Inc. ("ACAP" or "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 that, if accepted, NASD will not bring any future

Reference 2005000114501data-portal.finra.orgfinra.org

04/07/2014: FINANCIAL INDUSTRY REGULATORY AUTHORITY LETTER OF ACCEPTANCE, WAIVER AND CONSENT NO. 20120315069-O1 TO: Department of Market Regulation Financial Industry Regulatory Authority ("FINRA") RE: ACAP Financial Inc., Respondent Broker-Dealer CRD No. 7731 Pursuant to FINRA Rule 9216 of FINRA's Code of Procedure, ACAP Financial Inc. (the "firm") submits this Letter of Acceptance, Waiver and Consent ("AWC") for the purpose of proposing a settlement of the

Reference 2012031506901data-portal.finra.orgfinra.org

03/26/2012: FINANCIAL INDUSTRY REGULATORY AUTHORITY LETTER OF ACCEPTANCE, WAIVER AND CONSENT NO. 2009017601901 TO: Department of Enforcement Financial Industry Regulatory Authority ("FINRA") RE: ACAP Financial, Inc. CRD No. 7731 Gary Hume CRD No. 1216949 Pursuant to FINRA Rule 9216 of FINRA's 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

Reference 2009017601901data-portal.finra.orgfinra.org

04/03/2015: FILED United States Court of Appeals Tenth Circuit April 3, 2015 Elisabeth A. Shumaker Clerk of Court PUBLISH UNITED STATES COURT OF APPEALS TENTH CIRCUIT ACAP FINANCIAL, INC.; GARY HUME, Petitioners, v. UNITED STATES SECURITIES AND EXCHANGE COMMISSION, Respondent. No. 13-9592 Petition for Review of an Order of the Securities and Exchange Commission (SEC No. 3-15080) Timothy R. Pack (Brent R. Baker and D. Loren Washburn with him on the briefs), of Clyde Snow & Sessions, Salt Lake City, Utah, for Petitioners

07/26/2013: SECURITIES AND EXCHANGE COMMISSION Washington, D.C. SECURITIES EXCHANGE ACT OF 1934 Release No. 70046 / July 26, 2013 Admin. Proc. File No. 3-15080 In the Matter of the Application of ACAP FINANCIAL, INC. and GARY HUME c/o Anthony W. Djinis Pickard and Djinis LLP 1990 M Street, NW, Suite 660 Washington, DC 20036 For Review of Disciplinary Action Taken by FINRA OPINION OF THE COMMISSION REGISTERED SECURITIES ASSOCIATION-REVIEW OF DISCIPLINARY PROCEEDING Unregistered Sale of Securities Conduct Inconsistent

09/26/2012: BEFORE THE NATIONAL ADJUDICATORY COUNCIL FINANCIAL INDUSTRY REGULATORY AUTHORITY In the Matter of Department of Enforcement, Complainant, vs. ACAP Financial, Inc. Salt Lake City, UT, and Gary Hume Salt Lake City, UT, Respondents. DECISION Complaint No. 2007008239001 Dated: September 26, 2012 Respondent ACAP Financial, Inc. sold unregistered securities in contravention of the Securities Act of 1933. Respondents ACAP and Gary Hume failed to reasonably supervise a registered representative in connection with

05/03/2011: FINANCIAL INDUSTRY REGULATORY AUTHORITY OFFICE OF HEARING OFFICERS DEPARTMENT OF ENFORCEMENT, Complainant, v. ACAP FINANCIAL, INC. (CRD No. 7731), and GARY HUME (CRD No. 1216949), Respondents. Disciplinary Proceeding No. 2007008239001 Hearing Officer - MAD HEARING PANEL DECISION May 3, 2011 Respondent ACAP violated Conduct Rule 2110 by selling unregistered securities in violation of Section 5 of the Securities Act of 1933. For this violation, ACAP is fined $25,000. Respondents ACAP and Hume violated Conduct

Reference 2007008239001data-portal.finra.orgdata-portal.finra.orgdata-portal.finra.orgdata-portal.finra.orgfinra.org

04/19/2016: FINANCIAL INDUSTRY REGULATORY AUTHORITY OFFICE OF HEARING OFFICERS DEPARTMENT OF ENFORCEMENT, Complainant, V. ACAP FINANCIAL INC. (CRD No. 7731), KIRK LYNN FERGUSON (CRD No. 1307741), and GARY HUME (CRD No. 1216949), Respondents. DISCIPLINARY PROCEEDING No. 2012030459101 COMPLAINT The Department of Enforcement alleges: SUMMARY 1. Between January 2011 and December 2013 (the "Relevant Period"), ACAP Financial Inc. ("ACAP" or the "Firm"), acting through Kirk Lynn Ferguson in his capacity as ACAP's

12/06/2016: FINANCIAL INDUSTRY REGULATORY AUTHORITY OFFICE OF HEARING OFFICERS DEPARTMENT OF ENFORCEMENT, Complainant, v. ACAP FINANCIAL INC. (CRD No. 7731), KIRK LYNN FERGUSON (CRD No. 1307741), and GARY HUME (CRD No. 1216949), Respondents. DISCIPLINARY PROCEEDING No. 2012030459101 Hearing Officer DW ORDER ACCEPTING OFFER OF SETTLEMENT Date: December 6, 2016 INTRODUCTION Disciplinary Proceeding No. 2012030459101 was filed on April 19, 2016, by the Department of Enforcement of the Financial Industry Regulatory

Reference 2012030459101data-portal.finra.orgdata-portal.finra.orgfinra.org

04/10/2007: NASD LETTER OF ACCEPTANCE, WAIVER AND CONSENT NO.## 20060041582-01 TO: Market Regulation Department NASD RE: ACAP Financial, Inc., Respondent Broker-Dealer CRD No. 7731 Pursuant to Rule 9216 of NASD Code of Procedure ACAP Financial, Inc. ("ACAP" or 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 that, if accepted, NASD will not bring any

Reference 2006004158201data-portal.finra.orgfinra.org