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Marianne Smith is the Subject of FINRA Investigation

Dec 31, 2021 FINRA Investigation

Marianne Smith (CRD #:1587765), a broker formerly registered with Cetera Advisors, is the subject of a FINRA investigation for allegedly misusing customer's funds, according to her BrokerCheck Record accessed on December 16, 2021.   

The investigation stems from allegations that she converted $43,900 of customer funds in order to purchase mutual funds on behalf of her son. By virtue of her actions, Marianne Smith violated FINRA Rules 2150(a) and 2010. 

What is Conversion? 

Conversion is an intentional and unauthorized taking of and/or exercise of ownership over property by someone who neither owns the property nor is entitled to possession of it. Conversion of customer funds violates FINRA Rule 2150(a) and Rule 2010.  

Section A of FINRA Rule 2150 prohibits brokers and brokerage firms from misusing customers' funds or securities. Marianne Smith also allegedly violated FINRA Rule 2010, which requires associated persons to "observe high standards of commercial honor and just and equitable principles of trade" in the conduct of their business.  

Background Information 

Marianne Smith has passed the following exams: 

  • Series 63 - Uniform Securities Agent State Law Examination 
  • SIE - Securities Industry Essentials Examination 
  • Series 7 - General Securities Representative Examination 
  • Series 24 - General Securities Principal Examination 
  • Series 26 - Investment Company Products/Variable Contracts Principal Examination 

 Marianne Smith has also worked with the following firms 

  • Investors Capital Corp. (CRD#:30613) 
  • First Wall Street Corp. (CRD#:13024) 
  • Edward Jones (CRD#:250) 
  • Liberty Securities Corporation (CRD#:14416) 
  • Empire National Securities, Incorporated (CRD#:7361) 
  • American Express Financial Advisors (CRD#:6363) 

Kurta Law Can Help  

If you have been victimized by Marianne Smith as a broker, don't hesitate to get in touch with us today at 877-600-0098 or info@kurtalawfirm.com for a free consultation.  

For nearly 20 years, Kurta Law has advocated for investors 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. Please contact us for any questions about how to proceed.