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Mark Upchurch Allegedly Misrepresented Unsuitable Investments

Jun 21, 2022 Misrepresentation

Mark Upchurch (CRD #: 2937074), a broker previously registered with Centaurus Financial, allegedly made unsuitable investment recommendations, according to his BrokerCheck record, accessed on June 11, 2022. Keep reading to learn more about Mark Upchurch’s conduct as a broker.

Investor Dispute

On April 28, 2022, an investor alleged that Mark Upchurch recommended and misrepresented illiquid and unsuitable investments. The investor seeks $50,000 in this pending dispute.

FINRA Rule 2111

FINRA Rule 2111 requires brokers to consider whether an investment fits their investor’s financial goals. Brokers must take into account the characteristics described in the investor’s profile, which include the following:

  • Age
  • Financial goals
  • Risk tolerance
  • Time horizon (i.e., how long the investment will be held)
  • Investing experience
  • Tax status

Investors who have lost money through unsuitable investment recommendations may be able to recover their losses by pursuing FINRA arbitration.

FINRA Rule 2020

Misrepresentation of investments violates FINRA Rule 2020, which prohibits the use of manipulation, deception, and other unethical means of influencing the purchase or sale of securities.

Settled Investor Disputes 

There are two other disputes on Mark Upchurch’s record – one from 2021 and another from 2018 – that allege he misrepresented investments. These disputes collectively settled for $65,000. 

Background Information

Mark Upchurch 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
  • Series 24 - General Securities Principal Examination

He has also worked for the following firms:

  • Centaurus Financial (CRD#:30833)
  • Brookstone Securities (CRD#:13366)
  • Southwest Securities (CRD#:6220)
  • Citigroup Global Markets (CRD#:7059)
  • Chase Investment Services (CRD#:25574)
  • Chase Securities OF Texas (CRD#:17116)
  • NatWest Securities (CRD#:18238)

Kurta Law Can Help

If you worked with Mark Upchurch 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.