Mark James Stevenson, of New York, New York, a stockbroker formerly registered with Barclays Capital Inc., is the subject of a customer initiated investment related arbitration claim on June 15, 2017, where the customer requested $3,525,460.00 in damages based upon allegations that Stevenson violated Securities Exchange Act of 1934 Section 10(b), breached his fiduciary duties, over-concentrated the customer’s investment portfolio, made misrepresentations to the customer, as well as effected closed end fund and master limited partnership transactions even though they were unsuitable and unauthorized.
FINRA Public Disclosure reveals that Stevenson has been identified in eight additional customer initiated investment related disputes regarding allegations of his wrongdoing while he was associated with Barclays Capital Inc., and Lehman Brothers Inc. Specifically, on September 19, 2005, a customer initiated investment related written complaint involving Stevenson’s conduct was settled for $5,600,000.00 in damages based upon allegations that Stevenson failed to appropriately supervise a registered representative who effected government debt transactions in the customer’s account.
Subsequently, on May 18, 2015, a customer initiated investment related arbitration claim regarding Stevenson’s activities was resolved for $1,150,000.00 in damages supported by allegations that Stevenson poorly managed the customer’s investment account, churned the customer’s portfolio, and effected options transactions that were neither supervised nor suitable for the customer. Further, on May 10, 2016, a customer initiated investment related written complaint regarding Stevenson’s activities was resolved for $800,000.00 in damages based upon allegations against Stevenson of failure to supervise, suitability, and unauthorized options trading in the customer’s account.
Stevenson’s registration with Barclays Capital Inc. was terminated on December 4, 2015. He has been registered with Stifel, Nicolaus & Company, Inc. since then.
Guiliano Law Group
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