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Mark Smith Barred by FINRA, Embroiled in Investor Dispute

Sep 20, 2021 Unauthorized Trading

Mark Smith (CRD #: 5776360) has been barred from acting as a broker, according to his BrokerCheck record, accessed on April 16, 2022. If you have questions about Mark Smith’s conduct as a broker, read on.

Pending Investor Dispute

In a dispute filed on March 22, 2022, investors claim Mark Smith invited them to invest in an unspecified cryptocurrency investment. They allegedly invested $77,000 and expected to have their funds returned by Mark Smith on February 22, 2021. At the date of filing, investors had allegedly only received $5,000 of this money.

Investors seek $72,000 in damages in this pending dispute.

Refusal to Provide Testimony

Starting January 26, 2022, Mark Smith was indefinitely barred from FINRA. A Letter of Acceptance, Waiver, and Consent (AWC) alleges that he initially agreed to appear for on-the-record testimony relating to allegations that he may have been involved in an unauthorized transaction in a client’s personal checking account.

Mark Smith allegedly later refused to appear for testimony, violating FINRA Rules 8210 and 2010.

FINRA Rule 8210 and 2010

FINRA Rule 8210 requires FINRA members to comply with requests for information, testimony, and records as part of FINRA investigations, complaints, and examinations.

Violations of Rule 8210 and other rules can also be automatic violations of FINRA Rule 2010, which requires high standards of commercial honor and ethical conduct from brokers.

Sanctions

Following this action, Mark Smith was barred from associating with FINRA members in all capacities.

You can read a copy of the AWC here.

Discharge from Transamerica Financial Advisors

On July 27, 2021, Mark Smith voluntarily resigned from Transamerica Financial Advisors after allegedly being potentially involved in an unauthorized transaction in a client’s personal checking account.

Background Information

Mark Smith has passed the following exams:

  • Series 63 - Uniform Securities Agent State Law Examination
  • Series 65 - Uniform Investment Adviser Law Examination
  • SIE - Securities Industry Essentials Examination
  • Series 6 - Investment Company Products/Variable Contracts Representative Examination

He formerly worked for Transamerica Financial Advisors (CRD#:16164) and World Group Securities (CRD#:114473).

Kurta Law Can Help

If you worked with Mark Smith 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.