Focus Financial Associates, Inc.

U.S. SECURITIES AND EXCHANGE COMMISSION

Litigation Release No. 19472 /November 18, 2005

Securities and Exchange Commission v. Focus Financial Associates, Inc., Civil Action No. 05-21527-CIV-Moore/Garber (S.D. FL)

FINAL JUDGMENT OF PERMANENT INJUNCTION ENTERED AGAINST DEFENDANT MAX FRANCOIS

The Securities and Exchange Commission announced that on October 18, 2005, the Honorable K. Michael Moore, United States District Judge for the Southern District of Florida entered a final judgment of permanent injunction against Max Francois (Francois) for his involvement in an affinity fraud that targeted members of the Haitian-American community in Miami through local radio programs and presentations to Haitian-American church congregations. Francois has consented to the entry of an injunction against future violations of Section 17(a) of the Securities Act of 1933 and Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder. In addition, the Court has reserved jurisdiction for ninety days to determine upon the Commission's motion the amount of disgorgement, prejudgment interest, and civil penalty Francois is liable to pay.

For more information on earlier actions in this case, see Litigation Release No. 19258 / June 9, 2005.