Marc Lippman Expelled, Faces Investor Disputes

Broker Marc Lippman (Folger Nolan) Barred By FINRA, Involved In Investor Dispute Alleging Breach Of Fiduciary Duty

Soreide Law Group provides you with important information relating to securities broker Marc Romeyn Lippman (CRD#: 1575995, Washington, DC). Specifically, FINRA barred Lippman on June 17, 2021, to resolve allegations of his unauthorized transactions in customer accounts and inaccurate statements made to FINRA during an investigation. In addition, two investors reportedly disputed Lippman's sales practices. Let's take a closer look at these disclosures.

FINRA Indefinitely Bars Marc Lippman To Resolve Allegations That He Falsified Information

Notably, in June 2021, Marc Lippman agreed to the indefinite bar as a securities broker to resolve allegations of false testimony. First, FINRA says that when Lippman testified about a transaction in a client’s account, he falsely stated that he did not know that the client died before making the transaction. Supposedly, the broker made an $80,000 sale from the client’s account after becoming aware that they died. FINRA contends that he traded without permission or consent. Because of this bar, Lippman cannot associate with FINRA-member firms (most major securities brokerages in the United States).

Lippman’s Client Alleges Breach Of Fiduciary Duty

Evidently, a Folger Nolan Fleming Douglas Incorporated client disputed Marc Lippman's sales practices. The February 2020 FINRA Arbitration Claim alleges that Lippman acted in breach of fiduciary duty. Supposedly, Lippman’s actions caused damages to the client when he diverted mutual fund and corporate bond proceeds. For this reason, Folger Nolan Fleming Douglas Incorporated paid $326,500 to the client in an April 2021 settlement.

PNC Client Alleges Unsuitable Asset Allocation By Marc Lippman

It seems that Marc Lippman worked for PNC Investments before joining Folger Nolan Fleming Douglas Incorporated. Allegedly, Lippman caused the client damages through unsuitable transactions. More specifically, the broker supposedly allocated their account against their objectives and risk tolerance. However, PNC Investments denied this complaint.

Did You Sustain Damages By Investing Through Lippman?

Did securities broker Marc Lippman cause you to experience losses? If so, call Soreide Law Group at (888) 760-6552 and speak with a skilled securities lawyer about a potential recovery of your losses. Soreide Law Group represents clients on a contingency fee basis and advances all costs. The firm has recovered meaningful compensation for United States investors who incurred losses from their financial advisors and securities brokers. Please note that Lippman denies all allegations of his sales practice violations.