Mark Katz Allegedly Executed Unauthorized Trading

Mark Katz (CRD #: 3055019), a broker registered with Western International Securities, is the subject of an investor dispute. This disclosure appears on his BrokerCheck record, accessed on May 1, 2024. Keep reading if you have questions regarding his alleged conduct. 

Investor Allegations 

On February 20, 2024, an investor alleged that Mark Katz executed unauthorized transactions in fixed-income securities that caused him to suffer losses. The investor is seeking $358,162.96. 

On February 18, 2020, an investor alleged that Mark Katz engaged in unsuitable and unauthorized trading. They further alleged excessive trading, breach of fiduciary duty, and self-dealing. The investor sought $357,000 but the dispute was denied. Investors, however, should know that firms can deny disputes without any external review.

Unauthorized Trading 

FINRA Rule 3260 limits discretionary trading by brokers to pre-approved discretionary accounts. These accounts must be approved for discretionary trading by both the client and the firm. Discretionary trading that takes place in an account that has not been approved is unauthorized.

Misrepresentation 

FINRA Rule 2020 forbids the use of deceptive, manipulative, and otherwise fraudulent methods to influence the purchase and sale of securities. The misrepresentation or omission of material facts violates this rule.

Unsuitable Investments 

FINRA Rule 2111 defines suitable investments as securities that fit an investor’s profile. Investor profiles have information on the investor’s age, risk tolerance, tax status, investing experience, and financial goals. Investments that do not take these factors into account may be unsuitable. 

Background Information 

Mark Katz 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 Arizona, California, Utah, and Washington. He is a registered investment adviser in California. 

During his 25 years of experience, Mark Katz has registered with four firms: 

• Western International Securities (CRD #: 39262) 
• HillTop Securities (CRD #: 6220) 
• M.L. Stern & Co. LLC (CRD #: 8327) 
• Fortress Financial Group (CRD #: 42414) 

Kurta Law Can Help 

If you have worked with Mark Katz 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.