Mr. Fredric Obsbaum has been in the securities and commodities business for over 35 years. Since 1998, he has been actively associated with Integrated Management Solutions. The firm services the needs of the financial services community specifically security broker-dealers. Mr. Obsbaum serves as the Financial and Operations Principal of a number of securities broker-dealers. He has also been associated with Integrated Investment Solutions LLC since its inception in 2005.

From May 1997 to October 1998, Mr. Obsbaum served as a chief financial and compliance officer of Midland Walwyn Capital Corporation. Prior to that from 1994 he was the chief financial officer of Friedberg Mercantile Group Inc. The company specialized in foreign currency bonds, commodity futures and forwards and foreign exchange. From 1988 to 1994 he was the chief financial officer of Perry Partners, LP, a hedge fund with both domestic and off shore funds and assets under management of $500 million. He also had been the chief financial and operations officer of Smith New Court Inc. and the controller of Weiss, Peck & Greer. Mr. Obsbaum was with the New York Stock Exchange, Inc. from 1971 to 1974 as an examiner and senior finance coordinator. He started his career at Ernst & Ernst (which ultimately became part of Ernst & Young) after graduating from Fairleigh Dickinson University.