Paychest Inc (PYCT)

[Jim Bishop]

http://www.financialcounsel.com/Alerts/Investment/2004/12-06-04-NASDFines29Firms.asp

NASD Fines 29 Firms $9.2 Million for Late Reporting of Information Such As Customer Complaints
In what the NASD has described as "deeply troubling", 29 firms late reported information about their brokers, such as customer complaints, regulatory actions and criminal convictions. Investors and regulators "rely heavily on the integrity" of such information. The NASD imposed a similar fine, $2.2 million, against Morgan Stanley last July.

The brokerage firms, the fines, the number of late disclosures and the "failure rate" in examined areas is contained in the text below, which the NASD has published on its website, www.nasdr.com.

J.P. Turner & Company, L.L.C. $185,000 140 62%