Earl Marks a stockbroker with RBC Capital Markets in Mount Laurel, New Jersey was recently the subject of a customer intiated, investment related complaint filed before the Financial Industy Regulatory Authority seeking damages in excess of $500,000 resulting from the sale of Residential Mortgage Backed Securities (RMBS) and other high yield securities. FINRA Arbitration No. 18-00850.
This is not the first time Marks has been named in a customer intiated investment related complaint. According to FINRA Public Disclosure, there were two cases that went to hearing against Marks during his association with Janney Montgomery Scott. Shortly thereafter Marks departed Janney and became registered with Tucker Anthony, Inc., which was later acquired by his present employer RBC Capital Markets.
Investors may be attracted by the high yields, but these are complex securities that can be highly risky and highly volatile and often lack transparency. These securities may also be thinly traded, or have a large spread between the bid and ask price.
While we are unaware of the specific facts in this case, these securities, often sold as principal from the brokerage firm’s inventory, offer very large commissions, or mark-ups. These mark-ups are generally undisclosed to the unsuspecting customer, and the customer or investor does not realize that they are risky until they drop in value, have no value, interest rates go up, or the bonds cease paying interest.
Investors having lost all or part of their investment by purchasing high-yield or residential mortgage backed securities from Earl Marks or RBC Capital from 2008 through 2018, ought to consult with qualified counsel to determine if they may have a claim.
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Guiliano Law Group
Our practice is limited to the representation of investors. Over the last three decades, we have recovered tens of millions of dollars for more than 1,000 injured investors from all over the United States and from all over the World. 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 confidential consultation or an evaluation of your claim. For more information, contact us at (877) SEC-ATTY.
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