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Mark Augusta Allegedly Executed an Excessive Number of Trades

Mark Augusta (CRD #: 1333913), a broker registered with Hilltop Securities, is the subject of a new investor dispute. This disclosure appears on his BrokerCheck record, accessed on June 18, 2024. Investors should know that this is the 24th investor dispute on his record. 

Investor Allegations 

On April 22, 2024, an investor alleged that Mark Augusta executed an excessive number of trades for the sake of fees and commissions. 

Excessive Trading

FINRA Rule 2111, a.k.a. The Suitability Rule, requires brokers to tailor their investment recommendations to suit investors’ needs. Trades must be quantitatively suitable, meaning the number of trades must suit an investor’s needs. Each trade comes with a transaction fee, so too many transactions will result in excessive fees for the investor. Excessive trading is also known as “churning.” 

Previous Investor Disputes 

There are three investor disputes from 2018 alone. These were collectively settled for $236,400. Two of these disputes mention elder financial abuse

Background Information 

Mark Augusta has passed the following exams: 

  • Series 65 Uniform Investment Adviser Law Examination 
  • Series 63 Uniform Securities Agent State Law Examination 
  • SIE – Securities Industry Essentials Examination 
  • Series 7 General Securities Representative Examination 

He is a registered broker in 12 states and is a registered investment adviser in 11 states. 

During his 37 years of experience, he has registered with six firms: 

  • Hilltop Securities (CRD #: 6220) 
  • WedBush Securities (CRD #: 877) 
  • Stone & YoungBerg (CRD #: 795) 
  • Piper Jaffray & Co. (CRD #: 665) 
  • Miller & Schroeder Financial (CRD #: 7119) 
  • Baraban Securities (CRD #: 7659) 

Kurta Law Can Help 

If you have worked with Mark Augusta and have concerns about your investments, do not hesitate to contact us at 877-600-0098 or email 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 that 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. Do not let securities fraud go unchecked. Start your recovery process today.