Mark Sullivan (CRD 2531982) is a Bethlehem, Pennsylvania broker. FINRA suspended him from association with any member firm in all capacities for three months and assessed a deferred fine of $10,000, according to an AWC issued August 6, 2026.
Gerald James Page (CRD: 7577838), a former NYLife Securities LLC broker based in Horsham, Pennsylvania, worked for the firm from September 21, 2022, to July 23, 2026. BrokerCheck disclosures describe a FINRA disciplinary action against Page following an inquiry into possible undisclosed outside business activities. Below is a closer look at how the regulatory matter unfolded.
On September 15, 2026, FINRA barred Gerald Page from associating with any FINRA member firm in any capacity in Case No. 2026090468401. FINRA said Page refused to provide information it requested while investigating whether he had engaged in outside business activities without disclosing them.
NYLife reported Gerald Page’s July 23, 2026, termination through a Form U5 after an internal review raised concerns about his compliance with firm policies, including possible undisclosed outside business activities.
FINRA’s investigation followed a regulatory tip. On June 16, 2026, FINRA asked Page to provide information and records under Rule 8210 as it examined whether he had engaged in outside business activities without reporting them. After Page did not provide the requested material, FINRA renewed its request on July 27, 2026.
During an August 19, 2026, phone call, Page confirmed that he had received FINRA’s requests and said he would not comply.
FINRA determined that Page’s decision not to provide the requested information violated FINRA Rules 8210 and 2010. Rule 8210 allows FINRA to require that certain securities brokers provide information and records during an investigation, and those people must comply. FINRA also found that refusing a Rule 8210 request violated Rule 2010’s professional conduct standards.
Page accepted FINRA’s findings for purposes of settling the matter without admitting or denying them.
As part of the settlement, Page consented to a bar. This sanction took effect when FINRA accepted Page’s Letter of Acceptance, Waiver and Consent (AWC) on September 15, 2026. The AWC explains that the bar results in a statutory disqualification, meaning Page cannot hold any role at a FINRA member firm while the sanction remains in effect.
NYLife Securities LLC ended its affiliation with Page on July 23, 2026, after an internal review identified several issues the firm considered inconsistent with its policies. According to NYLife, the issues involved unfunded annuity applications, unreported business activities, and an outside brokerage account that had not been disclosed to the firm. The firm also said Page failed to fully cooperate with its requests during the investigation.
Investors who believe they lost money because of Gerald Page can contact Soreide Law Group online or at (888) 760-6552 to speak with a securities attorney about possible recovery of their investment losses. The firm has recovered losses for investors throughout the United States, works on a contingency fee basis, and advances all costs. Page and the brokerage firms he worked for deny allegations of sales practice violations.
Mark Sullivan (CRD 2531982) is a Bethlehem, Pennsylvania broker. FINRA suspended him from association with any member firm in all capacities for three months and assessed a deferred fine of $10,000, according to an AWC issued August 6, 2026.
Moors & Cabot, Inc. (CRD 594) is a brokerage firm based in Boston, Massachusetts. FINRA censured and fined the firm $125,000 after finding it failed to develop and implement an anti-money laundering compliance program reasonably expected to detect and report suspicious transactions, according to an AWC issued August 24, 2026.
Cowen and Company, LLC (CRD 7616), now part of TD Securities (USA) LLC, is a brokerage firm based in New York, New York. FINRA censured and fined the firm a total of $80,000, of which $40,000 is payable to FINRA, according to an AWC issued August 19, 2026.
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