Garrett Wayne Moretz of Mooresville, North Carolina, a stockbroker registered with LifeMark Securities Corp., was the subject of a customer initiated investment related Financial Industry Regulatory Authority (FINRA) securities arbitration claim that was settled for $35,000.00 in damages. The claim alleged breach of fiduciary duty, unsuitable investment recommendations, misrepresentation and omissions of material facts, negligence, and insufficient due diligence in connection with the sale of corporate bonds. These allegations emerged after customers invested in an alternative product in November 2017, which was later affected by the company’s Chapter 11 bankruptcy filing. FINRA Arbitration No. 23-02751.
This is not the first time that Moretz has been referenced in a customer initiated investment related dispute concerning his conduct in the securities industry. Public Disclosure shows that Moretz is also referenced in a customer initiated investment related FINRA securities arbitration claim that was settled for $119,750.00. The claim alleged misrepresentations, unsuitable investment recommendations, omissions of material facts, and insufficient due diligence in connection with the sale of corporate bonds during the time that Moretz was associated with LifeMark Securities Corp. The customers apparently purchased the alternative product between January 2018 and October 2020, which was impacted by the company’s Chapter 11 bankruptcy. FINRA Arbitration No. 22-02386.
Moretz is also referenced in a customer initiated investment related FINRA securities arbitration claim that was settled for $100,000.00 in damages based upon allegations that Moretz violated Regulation Best Interest, breached his fiduciary duty, and violated FINRA rules in connection with the sale of corporate bonds. FINRA Arbitration No. 22-01575 (July 19, 2023).
Public Disclosure also shows that Moretz is involved in a formal investigation initiated by Securities and Exchange Commission (SEC). The investigation, which is still pending as of May 1, 2023, involves a SEC Wells Notice alleging violations of Securities Exchange Act of 1934 Section 10(b) and SEC Rule 10b-5.
Moretz has been associated with LifeMark Securities Corp. in Mooresville, North Carolina since May 31, 2017.
