Mark Charles Koehler, of Chadds Ford, Pennsylvania, a stockbroker formerly registered with Cetera Advisor Networks LLC, has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he obstructed a FINRA investigation into allegations that he effected unsuitable investment transactions in customer accounts. Letter of Acceptance, Waiver and Consent, No. 2014040951701(June 29, 2017).
According to the AWC, Koehler became investigated by Financial Industry Regulatory Authority (FINRA) after learning that Koehler may have effected unsuitable transactions in an elderly customer’s investment accounts. FINRA apparently examined other transactions Koehler executed in the investment accounts of customers for excessive trading and execution of a faulty short-term trading strategy involving mutual funds. Moreover, FINRA attempted to determine whether a customer, who named Koehler as a beneficiary in the customer’s will, was subject of Koehler’s undue influence.
The AWC revealed that two letters were sent from FINRA to Koehler in May of 2017, wherein Koehler was called upon to furnish information and documentation to FINRA, according to Rule 8210, in furtherance of the investigation into allegations of his wrongdoing. Evidently, Koehler did not provide FINRA with a response. The AWC stated that Koehler’s counsel later informed FINRA that Koehler confirmed receipt of FINRA’s informational requests but that Koehler would not be providing information and documentation as required. FINRA found that Koehler’s refusal to cooperate in this regard was violative of FINRA Rule 2010 and 8210.
Koehler was fired from Cetera Advisor Networks on January 23, 2015, based upon allegations that he violated the firm’s policies by ascertaining blank but signed documents from customers, and effecting faulty trades in customer accounts.
Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that Koehler has been identified in three customer initiated investment related disputes containing allegations of his misconduct while employed with Janney Montgomery Scott LLC and Financial Network Investment Corporation. Specifically, on December 1, 2003, a customer initiated investment related written complaint involving his conduct was settled for $9,125.26 in damages based upon allegations that he placed municipal debt trades in the customer’s investment account despite lacking the customer’s consent.
Moreover, on January 30, 2006, a customer filed an investment related written complaint regarding Koehler’s activities, wherein the customer requested more than $5,000.00 in damages based upon allegations that he effected transactions in the customer’s annuity account on an excessive basis. Further, on December 14, 2010, a customer initiated investment related written complaint involving Koehler’s conduct was settled for $35,000.00 in damages supported by allegations that he misrepresented that the customer would be entitled to a full return of principal upon the maturity of a unit investment trust investment.
Koehler was most recently associated with Kovack Securities Inc. between March 12, 2015, and June 2, 2017.
The information contained herein has been obtained from reliable sources however may not be accurate and is not guaranteed by us. Readers are encouraged to undertake their own independent investigation and evaluation of the relevant facts. All claims and allegations are subject to adjudication, decisions may be subject to appeal, and no inference is intended, nor should any inference be made from any information contained herein from any source.
This posting and the information on our website is for general information purposes only. This content should be not considered legal advice, and any responses, comments, e-mails, other communications do not form any attorney client relationship. Attorney Advertisement. See Important Disclaimer
Guiliano Law Group
Our practice is limited to the representation of investors. We accept representation on a contingent fee basis, meaning there is no cost to you unless we make a recovery for you. There is never any charge for a consultation or an evaluation of your claim. For more information, contact us at (877) SEC-ATTY.
For more information concerning common claims against stockbrokers and investment professionals, please visit us at securitiesarbitrations.com
To learn more about FINRA Securities Arbitration, and the legal process, please visit us at securitiesarbitrations.com
