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Marc Haggar Allegedly Sold Investments Against Client’s Wishes

Marc Haggar (CRD #: 4146965), a broker registered with UBS Financial Services, allegedly sold investments without a client’s authorization, according to his BrokerCheck record, accessed on April 25, 2023. If you want to know more about his alleged conduct as a broker, keep reading.

Investor Dispute

In a dispute filed on March 3, 2023, an investor alleged that Marc Haggar executed unauthorized sales of investments that the client had intended to hold in the account following its transfer to his firm.

The client alleged that these trades occurred between January 19, 2021, and September 13, 2022. They also alleged that Marc Haggar engaged in negligent conduct.

This investor sought $70,000 in damages. but the dispute was denied by the firm.

Investors should be aware, however, that firms can deny disputes without an external review. Investors may be able to recoup their losses by pursuing FINRA arbitration after a denial.

FINRA Rule 3260

FINRA Rule 3260 requires brokers to receive written authorization from their clients before engaging in discretionary trading. Discretionary accounts must also be approved by the firm before this trading can occur.

FINRA Rule 2010

FINRA Rule 2010 holds brokers to high standards of commercial honor and just and equitable principles of trade.

What qualifies as broker negligence?

Brokers may act in many negligent ways. Typical examples include unsuitable investment recommendations, misrepresentations or omissions of fact, and excessive trading.

Investors who feel their losses are the result of broker negligence may be able to recover their funds through FINRA arbitration

Background Information

Marc Haggar has passed the following exams:

  • Series 66 – Uniform Combined State Law Examination
  • SIE – Securities Industry Essentials Examination
  • Series 31 – Futures Managed Funds Examination
  • Series 7 – General Securities Representative Examination

Marc Haggar is a registered broker in 12 states and a registered investment adviser in Texas.

He has also worked for the following firms:

  • Morgan Stanley Smith Barney (CRD#:149777)
  • Citigroup Global Markets (CRD#:7059)
  • Merrill Lynch, Pierce, Fenner & Smith (CRD#:7691)

Kurta Law Can Help

If you worked with Marc Haggar and you have concerns about your investments, please contact us today at 877-600-0098 or 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.