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Douglas Marcello Allegedly Sold Stocks Without Client Authorization

Douglas Marcello (CRD #: 6281265), a broker registered with Edward Jones, allegedly executed unauthorized sales, according to his BrokerCheck record, accessed on October 2, 2022. Keep reading if you have questions about his conduct as a broker.

Investor Dispute

On July 28, 2022, an investor alleged that Douglas Marcello executed unauthorized sales of stocks that were trading at a loss. The client seeks $75,596 in damages in this pending dispute.

FINRA Rule 3260

FINRA Rule 3260 prohibits brokers from executing discretionary trades except in pre-approved discretionary accounts. These accounts must be authorized for discretionary trading by both the client and the firm. 

FINRA Rule 2010

FINRA Rule 2010 holds brokers to high standards of commercial honor and just and equitable principles of trade. Violations of FINRA Rule 3260 are automatic violations of FINRA Rule 2010. 

Background Information

Douglas Marcello has passed the following exams:

  • Series 66 – Uniform Combined State Law Examination
  • SIE – Securities Industry Essentials Examination
  • Series 7 – General Securities Representative Examination 

Douglas Marcello is a registered broker in 15 states and a registered investment adviser in Florida.

Kurta Law Can Help

If you worked with Douglas Marcello and you have concerns about your investments, please contact us today at 877-600-0098 or info@kurtalawfirm.com for a free consultation.

For over 20 years, Kurta Law has advocated on behalf of investors who want to recover their investment losses from brokers and brokerage firms. Kurta Law is a nationally recognized law firm and exclusively represents investors against brokers and brokerage firms on a contingency basis. This means that the firm only earns a fee if our securities attorneys recover money on your behalf. 

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