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Recent Dispute Alleges Mark Stevenson Engaged in Excessive Trading

Mark Stevenson (CRD #: 436079), a broker registered with Stifel, Nicolaus & Company, has been the subject of several major disputes, according to his BrokerCheck record, accessed on July 10, 2022. Keep reading if you have questions about Mark Stevenson’s conduct as a broker.

Denied Dispute

On May 16, 2022, several investors named Mark Stevenson in a dispute concerning branch management’s lack of oversight regarding clients’ complaints towards Mark Stevenson, which consisted of complaints of unsuitability and excessive trading. The clients allege they suffered losses from May 2021 through March 2022. This dispute was denied by the firm.

However, investors should know that firms don’t need to permit an outside review before denying disputes. Investors may still be able to recover their losses by seeking out FINRA arbitration after a denial.

FINRA Rule 2111

FINRA Rule 2111 requires brokers to evaluate whether an investment fits their investor’s financial goals. Brokers must consider the information described in an investor’s profile, such as their risk tolerance, tax status, and other investments, when recommending investments or investment strategies.

Investors who have lost money through unsuitable investments may be able to recoup their losses through FINRA arbitration.

FINRA Rule 3110

FINRA Rule 3110 requires that firms establish systems of supervision to maintain their compliance with securities regulations. This includes appointing supervisors and providing them with Written Supervisory Procedures (WSPs).

Older Disputes

Two disputes filed in 2014 named Mark Stevenson in allegations concerning authorization, suitability, and supervision related to option positions opened in December 2012. One of these disputes, filed May 28, further alleges that Mark Stevenson churned and mismanaged equities and fixed income accounts. These disputes settled for a collective $1,950,000.

Background Information

Mark Stevenson 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 3 – National Commodity Futures Examination
  • Series 1 – Registered Representative Examination
  • Series 8 – General Securities Sales Supervisor Examination (Options Module & General Module)

Mark Stevenson is a registered broker in 50 states, District of Columbia, Puerto Rico, and the Virgin Islands. He is also a registered investment adviser in New York, Pennsylvania, and Texas.

He has also worked for the following firms:

  • Barclays Capital (CRD#:19714)
  • Lehman Brothers (CRD#:7506)
  • Lehman Brothers Kuhn Loeb (CRD#:7555)
  • White, Weld & Company (CRD#:6802)

Kurta Law Can Help

If you worked with Mark Stevenson and you have concerns about your investments, please contact us today at 877-600-0098 or 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.