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.
Soreide Law Group has filed a FINRA arbitration on behalf of their client (Claimant) against, LPL FINANCIAL LLC (Respondent).
The Claimant, who resides in Maryland, maintained an investment relationship with LPL FINANCIAL and its Financial Advisor, Gregory Gann. Gann is not named in this lawsuit.
The lawsuit alleges that the Claimant advised the Respondent that he did not want to take unnecessary risks with his retirement savings. However, LPL FINANCIAL allegedly solicited the Claimant to invest in the Northstar Healthcare REIT.
LPL FINANCIAL, the lawsuit alleges, failed to adequately advise the Claimant regarding the risks of this recommendation, and the high commissions the Respondent allegedly received for selling the REIT.
The lawsuit alleges that the Claimant has suffered significant damages in these investments with principal losses of at least $52,000 during a time when the financial markets have enjoyed record returns.
According to the lawsuit, allegedly LPL FINANCIAL’s actions in this case constitute breach of contract, negligent supervision, breach of fiduciary duty, negligence, and violation of FINRA rules.
FINRA has reminded it’s members offering Non-Conventional Investments such as REITs and other alternatives of their obligations to:
(1) conduct adequate due diligence to understand the features of the product;
(2) perform a reasonable-basis suitability analysis;
(3) perform customer-specific suitability analysis in connection with any recommended transactions;
(4) provide a balanced disclosure of both the risks and rewards associated with the particular product, especially when selling to retail investors;
(5) implement appropriate internal controls; and
(6) train registered persons regarding the features, risks, and suitability of these products.
According to FINRA’s BrokerCheck, GREGORY GANN (CRD# 2144505), has been registered in the securities industry since 2000. He is currently registered with the following firm since 07/12/2005:
LPL FINANCIAL LLC
3 CHURCH LANE
BALTIMORE, MD 21208
If you’ve suffered losses due to the actions or recommendations of LPL FINANCIAL LLC and/or their financial advisor, Gregory Gann of Baltimore, Maryland, contact Soreide Law Group and speak to an experienced securities lawyer at no cost regarding the possible recovery of your investment losses through a FINRA arbitration at: 888-760-6552.
Soreide Law Group represents our clients nationwide before FINRA on a contingency fee basis—no fee to you if no recovery.
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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