Martin Walcoe Subject of a FINRA Investigation

Martin Walcoe (CRD #: 1593935), a broker registered with David Lerner Associates, is the subject of an investor dispute. This is according to his BrokerCheck record, accessed on July 2, 2024. Keep reading if you have questions regarding his alleged conduct. 

FINRA Investigation 

On March 18, 2024, FINRA announced that it had made a preliminary determination to recommend that disciplinary action be brought against Martin Walco following allegations that he failed to reasonably supervise the sales of Energy 11, L.P. and Energy 12, L.P. Allegedly, brokers did not have a reasonable basis to believe investments were suitable for those customers based on their investor profiles. 

Customer Disputes

There are two investor disputes on Martin Walcoe’s record alleging he recommended unsuitable investments. These disputes settled for approximately $160,183. 

FINRA Rule 2111 – 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. Non-traded energy investments like Energy 11, L.P. and Energy 12, L.P. are often unsuitable due to their high risk. 

Failure to Supervise 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).

Background Information 

Martin Walcoe has passed the following exams: 

• Series 63 Uniform Securities Agent State Law Examination 
• SIE – Securities Industry Essentials Examination 
• Series 7 General Securities Representative Examination 
• Series 24 General Securities Representative Examination 

He is a registered broker in 25 states and Puerto Rico. 

Kurta Law Can Help 

If you have worked with Martin Walcoe 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.