Barred Securities Broker Mark Cohen Involved In Investor Disputes
Soreide Law Group is investigating potential investor disputes to be brought against securities broker Mark Cohen (CRD#: 4534879, New York, New York). Mainly, five or more investors disputed Cohen’s sales practices to date. In addition, FINRA barred him as a securities broker effective September 2018. Here’s what we know about these disclosures.
BCG Securities Client Indicates That Mark Cohen Made Unsuitable, Excessive Trades
Evidently, BrokerCheck shows that a client of BCG Securities complained about Mark Cohen in December 2020. First of all, the client alleged that Cohen made unsuitable investment purchases or sales. Secondly, the securities broker supposedly excessively traded in the client’s account. Thirdly, the client alleges that BCG Securities did not reasonably supervise Cohen’s trading in their account. It appears that the client experienced damages on transactions involving stocks and real estate investment trusts. Because of this, they demand $76,500 in this ongoing matter.
Client Of BCG Securities Indicates That Cohen Sold Unsuitable Investments
In addition, a BCG Securities client filed a FINRA Arbitration Claim in February 2020 in regard to Mark Cohen’s alternative investment sales. Namely, they allege in this dispute that Cohen did not perform proper due diligence before selling a direct investment to them. It appears that the client may have experienced damages on investments in direct participation programs or limited partnerships. For this reason, the client has asked for $50,000 in damages to resolve this matter.
Prior Disputes About Mark Cohen
Evidently, three investors filed disputes about Mark Cohen in 2011. The first investor alleged that Cohen sold an unsuitable annuity when he worked for AXA Advisors. According to the client, the annuity was not suitable given their needs and age. As a result, the client received a $118,804.56 payment to settle the matter. And the second and third investors disputed Cohen’s variable life insurance sales, alleging misrepresentation. However, those disputes were denied by the securities firm.
FINRA Bars Cohen
Notably, FINRA barred Mark Cohen as a securities broker effective September 4, 2018 for reportedly violating industry rules. Specifically, FINRA alleged that Cohen converted funds from MetLife, his prior firm. FINRA found Cohen to be in violation of FINRA Rule 2010 for conversion and for falsification of documents.
Did You Experience Losses Because Of Mark Cohen?
Evidently, Mark Cohen denies accusations that he committed sales practice violations. Did you sustain losses by investing with him? If you have, then call Soreide Law Group at (888) 760-6552. Speak with experienced counsel concerning a possible recovery of your losses. Soreide Law Group represents clients on a contingency fee basis and advances all costs. The firm has recovered millions for clients who have experienced losses because of their securities brokers and financial advisors.