MARK LAWRENCE SULLIVAN (MARK SULLIVAN, MARK L SULLIVAN), formerly with UBS Wealth Management USA in New York City, was fined $10,000 and suspended for three months by the Financial Industry Regulatory Authority (FINRA) over allegations that he traded in customers’ accounts without the proper approval. Sullivan was previously registered both as a broker and as an investment advisor.
According to a recent article in AdvisorHub, MARK L SULLIVAN joined Dynasty Financial Partners-backed RIA Procyon after being discharged by UBS in July of 2024. Sullivan allegedly placed 581 trades in two customers’ accounts without permission between January 2021 and June 2024, according to FINRA.
The FINRA report, dated 8/6/2026, states, “Without admitting or denying the findings, Sullivan consented to the sanctions and to the entry of findings that he exercised discretion without prior written authorization when placing 581 trades in the accounts of two customers. The findings stated that although the customers permitted Sullivan to exercise discretion, he did not have their written authorization to do so, and his member firm did not accept the accounts as discretionary. By mismarking solicited trades as unsolicited, Sullivan caused his firm to maintain inaccurate books and records. In addition, Sullivan inaccurately stated on three annual compliance questionnaires submitted to the firm that he had not exercised discretion in customer accounts.”
According to FINRA’s BrokerCheck, available to the public on FINRA’s website, MARK L SULLIVAN has 28 years of experience in the securities industry and has been listed with 5 firms. Sullivan has 3 disclosures on his FINRA CRD report. One of the disclosures is the “Regulatory” disclosure fining and suspending him. There is an “Employment Separation After Allegations” disclosure discharging him from UBS FINANCIAL SERVICES INC dated 7/26/2024. The allegations were, “Discharged after review determined that employee violated firm policies by exercising discretion, mismarking tickets, and was not forthcoming during the investigation.”
There is also a “Customer Dispute” filed against MARK L SULLIVAN dated 8/14/2024 that settled for $96,565.83. The allegations were, “Time Frame: July 13th, 2015, to August 14, 2024 What were the allegations against the individual? Client verbally alleged the securities recommended were not suitable for a person of his age.”
According to the AdvisorHub article, MARK L SULLIVAN registered with Procyon four months after leaving UBS, according to registration records. Dynasty said in an announcement that he had managed $800 million in client assets. According to the article, the RIA allegedly fired him after less than two years on the job, a company spokesperson said, and his registration with Procyon ended in March, according to the Securities and Exchange Commission.
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