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.
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.
Sullivan consented to the sanctions without admitting or denying the findings.
The findings state that Sullivan exercised discretion without prior written authorization when he placed 581 trades in the accounts of two customers. The customers permitted Mark Sullivan to exercise discretion, but he did not have their written authorization to do so, and his member firm did not accept the accounts as discretionary, according to the AWC.
Sullivan also caused his firm to maintain inaccurate books and records by mismarking solicited trades as unsolicited, the findings state.
FINRA found that Mark Sullivan inaccurately stated on three annual compliance questionnaires submitted to his firm that he had not exercised discretion in customer accounts, according to the AWC.
The suspension is in effect from August 6, 2026, through November 6, 2026, FINRA's case records show. The matter's case number is 2024083156201.
A broker who wants to make trades in a customer's account without asking first, known as exercising discretion, generally needs the customer's written authorization along with the firm's written acceptance of the account as discretionary, authorization Mark Sullivan did not have. The requirement lets a firm supervise discretionary trading and gives the customer a documented record of what authority the broker has.
Marking a trade as unsolicited when a broker in fact recommended it also affects a firm's books and records, which regulators and firms rely on to review whether trading in an account was appropriate. Firms also rely on annual compliance questionnaires to learn whether a representative is engaged in activity that needs supervision or disclosure, and an inaccurate answer on that questionnaire can keep a firm from catching a problem on its own.
FINRA member firms must supervise the activities of their brokers. If you have questions about an account that Mark Sullivan handled, call Soreide Law Group at (888) 760-6552. You can also reach us online to speak with a securities attorney. Our securities lawyers handle FINRA arbitration claims on a contingency fee basis. Learn how FINRA arbitration works.
This post summarizes public FINRA records, including BrokerCheck, as of October 14, 2026. In a FINRA Letter of Acceptance, Waiver and Consent, the respondent settles without admitting or denying the findings. FINRA may also update or correct these records after that date.
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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