Former LPL Financial Broker, Mark Tauzin, Fined and Suspended by FINRA

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Soreide Law Group (888-760-6552) obtained the following information from FINRA’s Disciplinary Actions December 2016.

Mark Tauzin (CRD #1716373, Lafayette, Louisiana)

was assessed a deferred fine of $20,000, suspended by FINRA for eight months, and required to pay deferred disgorgement of ill-gotten gains in partial restitution in the total amount of $205,115.02, plus interest, to clients for allegedly engaging in a pattern of unsuitable short-term trading of front-loaded Unit Investment Trusts (UITs) in connection with the accounts of households at his member firm.

FINRA’s findings stated that Tauzin did not have a reasonable basis to believe the short-term trading of these front-loaded products were suitable for the clients. These transactions resulted in sales charges to the customers of $316,840.50 and 205,115.02 in commissions to Tauzin.
Also, FINRA’s findings stated that Tauzin maintained blank forms signed by clients relating to accounts for several households. The forms included Automated Clearing House authorization forms, margin agreements, account applications and switch disclosure forms.  Completed switch disclosure forms were used for transactions that appeared identical to the signed, blank forms maintained in Tauzin’s files. The maintenance of the blank forms violated the firm’s WSPs, which prohibited registered representatives from having clients sign any blank document, regardless of client knowledge or consent.
The suspension is in effect from November 7, 2016, through July 6, 2017.
(FINRA Case #2014043506501)
Mark Tauzin was registered in the securities industry for 27 years and the last firm he was registered with was:
09/25/2009 - 11/14/2014  LPL FINANCIAL LLC   LAFAYETTE, LA
 If you were a client of former LPL Financial broker, Mark Tauzin, of LaFayette, LA, and you experienced losses due to his or any other broker’s recommendations or actions, call Soreide Law Group and speak to a lawyer regarding the possibility of recovering your losses at:  888-760-6552.
Soreide Law Group represents our clients nationally before FINRA and we operate on a contingency basis.