ERROLD F. MOODY JR.

July 4, 2007

Florida Department of Financial Services

Department of Insurance

200 East Gaines St.

Tallahassee, FL 32399-0319

Florida Office of Financial Regulation

Division of Securities and Finance

200 East Gaines St.

Tallahassee, FL 32399-0319

RE: Constance P Smith and Cynthia M Smith vs. The Johnson Financial Group, Inc., Asset Management Securities Corp, James Albert Johnson Jr and James Michael Johnson, NASD Case 03-02522

Gentlemen,

There is something seriously wrong with your divisions. Very wrong. I have enclosed a copy of a letter over a year ago. I have tried- generally without success- to find out some idea of what is happening with this complaint. While I do understand the confidentiality, there has to be some formal communication to me at some point regarding the status. One could at least tell me whether the complaint was being reviewed or simply dustbinned. I repeat, I receive nothing for this effort. I am committed to this effort simply because Johnson committed egregious acts that no planner, insurance salesperson or securities agent should be allowed to do. My report is as complete as anything you can get. It identifies the losses sustained by the Smiths and the subsequent signed $300,000 settlement by Johnson. I will also repeat- no one commits $300,000 for an invalid or frivolous claim.

Anyway, I tried to follow up again about two weeks ago by calling the Insurance consumer help line. The individual had problems finding the complaint. Finally, he did find a computer file by referencing my name, Smith and Johnson but indicated that the complaint had been turned over to the Securities division and an individual, Tobi Pam in the legal section in West Palm Beach. I left her two voice messages inquiring about the status of her effort. What I got in reply was a telephone call from Robert Kynoch, Financial Administrator, Bureau of Securities Regulation who indicated that neither he nor Ms Pam had a clue to what I was referencing. In the discussion, we also ‘agreed' that the matter was an insurance claim primarily, not securities related (though there were some mutual funds and stocks involved and an insurance policy was a variable life). He requested I send him documents which I did by pdf. His reply- "It appears we have not reviewed this material. I have started a background check on the agent and will determine how to proceed next week. Thank you for providing the material to me. "

It is nice he followed up so quickly. But after a year plus in trying to do something for the public, and providing a complete report that took me almost a year to complete, I find Florida's response to this effort to be absurd- certainly unprofessional. Yes, I know that the Department has lots of issues, lack of funds and manpower- but no professional organization can be this slipshod. If nothing else, you have to communicate. Formal written documentation is a mainstay to such complaints but the dearth of this effort is sad indeed. Consumers submitting valid causes of action will never bother if the effort is so wasted.

I feel, under the circumstances, that someone do what was called for initially. Respond to me professionally. Then do the investigation. And please do not tell me months and months are needed. I already did the work. I will testify to any of it. And Johnson signed a $300,000 settlement to avoid more problems.

Enough is enough. Get your act together and somebody do some work.

Very Truly,

Errold F. Moody Jr.

P.S. I know the comments are harsh but considering over a year of time, I am entitled. Further, if I conducted any business (or lack thereof) such as has been communicated (or lack thereof) to me, I would be fired in a heartbeat. If you want to protect the elderly from fraud, etc. you have to do better than what has been offered.