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Mark Giordano Resigns from Cetera Financial Specialists

Jun 6, 2022 Employment

Mark Giordano (CRD #: 4052216), a former broker, resigned from Cetera Financial Specialists, according to his BrokerCheck record, accessed on May 28, 2022. His resignation following allegations of outside business activities. If you have invested in his outside business, you should contact Kurta Law right away: (877) 600-0098 or info@kurtalawfirm.com.  

Resignation from Cetera Financial Specialists

Mark Giordano resigned from Cetera Financial Specialists after he entered into an Acceptance, Waiver, and Consent (AWC) agreement with FINRA. In the AWC, he consented to the findings that he engaged in undisclosed outside business activities. These allegations are detailed below.

FINRA Suspension

On January 31, 2022, Mark Giordano consented to the entry of findings that he engaged in outside business activities without giving notice to his firm, Cetera Financial Specialists.

The allegations state that Mark Giordano engaged in, and received compensation for, five outside business activities unrelated to securities between 2002 and 2019. For the entirety of this period, Cetera Financial Specialists' supervisory procedures required that brokers disclose in writing any outside business activities and receive approval from the firm prior to participating in these activities.

According to the letter of Acceptance, Waiver, and Consent (AWC) Mark Giordano engaged in the following outside business activities:

  • 2002-present: Served as Vice President and partial owner of a company involved in horse racing and breeding.
  • 2005-present: Served as Vice President and partial owner of a real estate rental company.
  • 2006-2019: Owned a real estate flipping company.
  • 2016-2019: Part owner of another company involved in horse racing.
  • 2017 to October 2018: Involved in a house-flipping venture involving the purchasing, renovating, and selling of two residential properties.

The AWC alleges that Mark Giordano did not disclose four of these five activities to Cetera Financial Specialists until September 2019, and that firm customers were involved in all but one of these activities.

The AWC concludes that these allegations violated NASD Rules 3030 and 2110 and FINRA Rules 3270 and 2010.

FINRA Rules 3270, 2010 and NASD Rules 3030, 2110

Because some of the above allegations occurred before the adoption of FINRA regulations, they are considered violations of the previously-held NASD rules.

FINRA Rule 3270 requires brokers to provide firms with written disclosures about any business activities they conduct outside their role as a broker. Brokers must also receive approval from their firm before engaging in any outside business activities.

FINRA Rule 2010 requires brokers to uphold high standards of commercial honor and ethical behavior.

Sanctions

Mark Giordano faced the following sanctions:

  • $5,000 fine
  • Two-month suspension from associating with FINRA members in all capacities

His suspension began on February 22, 2022, and ended on April 21, 2022.

You can read the full AWC here.

Other Outside Business Activities

Mark Giordano’s detailed BrokerCheck report lists the following outside business activities:

  • Owner of Marsal Driving School, selling property and casualty insurance.
  • President of ABC Tax Services, a tax and accounting practice.
  • Owner and partner of PBG Holdings, engaging in locating, financing, renovating, and selling residential properties.
  • Owner and Vice President of PBG Realty, a real estate company.
  • Owner of Panamoka Trails Properties, engaging in the purchase, renovation, and sale of properties.
  • Owner and Vice President of PBG Stables, a horse breeding and racing company.
  • Owner of Nothing Bundt Cakes, a retail bakery.

Background Information

Mark Giordano has passed the following exams:

  • Series 63 - Uniform Securities Agent State Law Examination
  • SIE - Securities Industry Essentials Examination
  • Series 6 - Investment Company Products/Variable Contracts Representative Examination

He previously worked for Cetera Financial Specialists (CRD#:10358).

Kurta Law Can Help

If you worked with Mark Giordano 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.