Financial Industry Regulatory Authority (FINRA) BrokerCheck reveals disclosures about securities broker Marc Harrison [CRD#: 1605568, New York, NY].
Marc Harrison worked for several firms during his career. He has been registered with Reid & Rudiger LLC since November 8, 1999, in New York, New York. Previously, Harrison worked for Emmett A Larkin Company, Inc. in San Francisco, California, from April 1999 to November 1999, and Gruntal & Co., L.L.C. in New York, New York, from August 1989 to April 1999.
Recent disclosures reveal concerns regarding Harrison's supervision practices. Specifically, FINRA initiated a regulatory action based on allegations involving failure to supervise excessive trading activities.
On August 14, 2024, FINRA issued a Wells Notice in connection with a pending investigation against Marc Harrison. FINRA alleges violations of FINRA Rules 3110 and 2010. The investigation claims Harrison failed to adequately supervise trading activities, which allegedly resulted in excessive trading and churning.
Excessive trading, commonly referred to as churning, occurs when a broker executes an unusually high number of trades in a client’s account to generate commissions. This practice often leads to substantial financial harm, as clients incur unnecessary fees, commissions, and tax burdens. Churning is considered a serious violation of a broker’s duty to act in the client’s best interest.
FINRA Rule 3110 requires broker-dealers to establish and maintain a system of supervision that ensures compliance with industry regulations. Failure to supervise allegations arise when supervisory personnel fail to adequately oversee trading practices and broker activities.
Looking for more information about Marc Harrison? If so, reach out to Soreide Law Group online or at (888) 760-6552 to speak with a securities attorney. Soreide Law Group takes cases on contingency, advances all necessary costs, and helps investors nationwide recover losses from sales practice misconduct, though outcomes may vary. Harrison and the firms Harrison worked for deny accusations of sales practice violations.
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