The law firm of Oakes & Fosher is presently investigating the alleged misconduct of securities broker Mark Cline. According to his publicly available FINRA BrokerCheck report, Mark Cline has been the subject of numerous customer disputes in his career.
Mark Cline is a Florida based securities broker. He has worked in the securities industry for twenty years. During his career, he has been registered with five different securities firms.
His Registrations
- The Leaders Group (1999-2005)
- C C F Investments (2006-2007)
- United Equity Securities (2007-2010)
- Great Nation Investment Corporation (2010-2013)
- National Securities Corporation (2014-Present)
The Allegations
Mark Cline became the subject of twelve customer complaints all filed in December 2019. The customers in all of these cases have alleged that Mark Cline recommended investments that were unsuitable for them. All twelve complaints are currently pending. The customers are seeking a grand total of $2,872,000 in damages.
What Does This Mean?
According to FINRA, securities brokers have an obligation to their customers to only invest them in securities that they (the customers) are financially suited for. Securities brokers can determine if a particular investment is suitable for their customer by looking at important factors provided to them by said customer. These factors include the customer’s age, investment objectives, liquidity needs, risk tolerance, and financial situation. Brokers who invest their customers contrary to these factors have done so in either a fraudulent or negligent manner. In a fraud case, the broker purposefully places the customer in investments they are not financially suited for simply because those investment provide brokers with much higher commissions. In a negligence case, the broker has simply not done the adequate due diligence required for their position to determine if a particular investment is suitable for their customer based on the above mentioned factors.
Oakes & Fosher Can Help
Many investors are unaware of the legal recourse available to them after losing money due to securities broker fraud and/or negligence. The truth is that investors who have lost money in this fashion may actually be entitled to damages.
Oakes & Fosher dedicates its entire legal practice to helping investors across the nation. If you, or someone you know, have lost money investing with Mark Cline, please contact Oakes & Fosher for a free and private consultation. Oakes & Fosher handles cases on a contingency basis, which means there are no fees charged unless we collect for you.
