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.
In November 2022, FINRA sanctioned Western International Securities in Case: 2020067094001. The firm agreed to pay a fine of $400,000, among other things to resolve allegations that it neglected its duties in ensuring that its recommendations regarding Non-Traded Real Estate Investment Trusts (REITs) complied with its suitability obligations.
The firm's written supervisory procedures (WSPs) were not reasonably designed, leading to lapses in ensuring that Non-Traded REIT investments were consistent with customers' investment objectives and other profile factors. Moreover, some supervisors solely relied on incomplete forms, missing crucial customer profile data, to assess suitability.
A representative of the firm was found to have recommended unsuitable purchases of Non-Traded REITs to clients, worth over $7.8 million. These recommendations were made without a reasonable basis of suitability, especially considering the diverse profiles of the affected customers.
The company did not appropriately investigate warning signs linked to this representative and some of his sales.
Western International Securities failed to either report or timely report several customer complaints, arbitrations, and settlements. These delays not only hampered FINRA's investigation efforts but also deprived the public of timely and pertinent disclosure. For this reason, the regulator sanctioned the securities firm. Public records show that the firm has resolved the matter with the regulator.
Have you experienced damages because of Western International Securities? If so, contact Soreide Law Group online or at (888) 760-6552 and talk with a securities lawyer about a possible recovery of your investment losses. Soreide Law Group, a firm that has recovered money for investors throughout the United States, represents clients on a contingency fee basis and advances all costs. The securities firm denies any and all allegations.
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.
Phone:
Fax: 1-954-760-6553
Email: [email protected]