Mark Allen Carter (CRD #6387371) Has a Regulatory Action, Customer Dispute, and Investigation on FINRA BrokerCheck

Mark Allen Carter (CRD #6387371) was previously registered as a broker. We reviewed his BrokerCheck report on February 23, 2026. It reflects one regulatory event, one customer dispute, one investigation, and one employment separation. If you invested with Mark Carter and have concerns, keep reading.

BrokerCheck link: BrokerCheck

BrokerCheck report: BrokerCheck Report (PDF)

Regulatory Action(s)

Mark Carter’s FINRA BrokerCheck Report reflects one regulatory action. A summary of the action is below:

On November 19, 2025, FINRA reported a final regulatory action against Mark Carter. Without admitting or denying the findings, he consented to an Acceptance, Waiver & Consent (AWC). 

You can review the disciplinary document here: AWC

FINRA’s findings stated that Mark Carter willfully violated Regulation Best Interest (Reg BI). The findings said he recommended options trading to two retail customers that was not in their best interest. FINRA stated that the customers lost more than $600,000, and Mark Carter received $6,773 in commissions. FINRA also found that he exercised discretion without prior written authorization for 2,314 trades. The findings stated he placed trades without speaking with the customers and mismarked solicited trades as unsolicited.

FINRA reported sanctions that included a $20,000 fine and $6,773 in disgorgement. FINRA also reported a nine-month suspension in all capacities from December 1, 2025 through August 31, 2026.

Employment Separation

Mark Carter’s FINRA BrokerCheck Report reflects one employment separation after allegations. A summary is below:

On February 27, 2024, Pruco Securities, LLC reported that Mark Carter voluntarily resigned. The firm stated he self-disclosed excessive unauthorized discretionary trading in client accounts, which led to client losses. The disclosure also states he admitted submitting some trade orders as “unsolicited.”

Investigation

Mark Carter’s FINRA BrokerCheck Report reflects one pending investigation. A summary is below:

FINRA opened an investigation on April 1, 2024. The disclosure states FINRA is reviewing the events that led to several related disclosure occurrences. The report states the investigation remains pending with no resolution to date.

Investor Disputes / Customer Complaints

Mark Carter’s FINRA BrokerCheck Report reflects one customer dispute disclosure. A summary of the dispute is below:

On April 4, 2024, a customer alleged Mark Carter engaged in unauthorized trading from around April through December 2023. The customer requested $500,000 in damages. FINRA BrokerCheck lists the product as Other: Command/Advantage. The matter settled on August 2, 2024 for $672,038.58, with no individual contribution reported.

Rule Summary #1: FINRA Rule 3260 (Discretionary Accounts)

FINRA Rule 3260 limits a broker’s ability to trade with discretion in a customer account. It generally requires written customer authorization and firm acceptance before discretion is exercised. Disputes about unauthorized or excessive trading often raise questions about whether those approvals were in place.

Rule Summary #2: FINRA Rule 2360 (Options)

FINRA Rule 2360 sets detailed standards for options trading by member firms. It covers account approval, supervision, and other controls that are meant to protect customers. Options-related disclosures may raise questions about how the strategy was approved, explained, and monitored.

Why This Matters to Investors (Regulation Best Interest)

Regulation Best Interest (Reg BI) is a U.S. securities regulation. It strengthens the standard of conduct that broker-dealers owe to retail investors. It applies when they recommend securities transactions or investment strategies. The U.S. Securities and Exchange Commission adopted Reg BI. It became effective on June 30, 2020. Reg BI aims to protect investors while preserving access to brokerage products and services.

Reg BI requires broker-dealers and financial advisors to act in a retail customer’s best interest at the time of a recommendation. They must not place their own financial or other interests ahead of the customer’s. This standard is higher than the older “suitability” rule. Suitability meant a recommendation only had to be appropriate. It did not have to be the best option or free of conflicts.

Reg BI has four key obligations:

Disclosure Obligation – Broker-dealers must disclose material facts about the relationship and the recommendation. This includes fees, the scope of services, and conflicts of interest.

Care Obligation – Broker-dealers must use reasonable diligence, care, and skill. They must consider costs, risks, and alternatives when making a recommendation.

Conflict of Interest Obligation – Firms must identify conflicts of interest. They must disclose them and mitigate or eliminate them. This includes conflicts that create incentives to favor one product over another.

Compliance Obligation – Firms must maintain policies and procedures. Those policies should be designed to ensure compliance with Reg BI as a whole.

Reg BI applies to each recommendation. It is not a continuous duty like the fiduciary standard for registered investment advisers. Even so, it narrows the gap. It puts more focus on costs, conflicts, and investor-focused decision-making.

Overall, Regulation Best Interest promotes transparency. It also aims to improve the quality of investment recommendations. It is designed to reinforce trust between retail investors and broker-dealers in the U.S. securities markets.

Background Information (from BrokerCheck)

Based on His FINRA BrokerCheck report, Mark Carter:

Is not currently registered as a broker.

Has passed the Securities Industry Essentials (SIE) exam. Mark Carter has also passed Series 7 and Series 66.

Was previously registered with Pruco Securities, LLC from September 2014 through March 2024.

Has reported holding the Certified Financial Planner professional designation.

Kurta Law Can Help

If you have worked with Mark Carter and you have concerns about his activity, Kurta Law may be able to help you evaluate your legal options. To speak with Kurta Law, call 877-600-0098 or email info@kurtalawfirm.com.

Helpful resources: Unauthorized Trading | Options Trading

For nearly 20 years, Kurta Law has advocated for investors and helped hold financial professionals accountable. Our firm represents clients nationwide in securities arbitration and related disputes. If you believe a broker or firm mishandled your account, an attorney can review the facts and explain possible next steps.