Mark Charles Cohen of New York, New York, a stockbroker formerly registered with BCG Securities Inc., is the subject of a customer initiated investment related FINRA securities arbitration claim which was resolved for $55,000.00 in damages based upon accusations of BCG Securities’ failure to supervise trading in the customer’s account, resulting in unsuitable real estate investment trust trades and common and preferred stock trades. FINRA Arbitration No. 21-01356 (December 22, 2021). According to the claim, the customer’s account had been churned.
Cohen has been identified in five additional customer initiated investment related disputes regarding allegations of conduct while employed by AXA Securities and BCG Securities. Public Disclosure shows that a customer filed an investment related complaint concerning Cohen’s activities in which the customer sought compensatory damages founded on accusations that Cohen made misrepresentations to the customer regarding a variable life insurance policy.
On September 21, 2011, another customer initiated investment related complaint involving Cohen’s conduct was settled for $118,804.56 in damages supported by accusations of the customer being placed in variable annuities that were not suitable given the customer’s financial needs and age while Cohen was registered with AXA Advisors.
An additional customer filed an investment related FINRA securities arbitration claim regarding Cohen’s activities where the customer requested compensatory damages based upon allegations of unsuitable trading during the time that Cohen was employed by BCG Securities. FINRA Arbitration No. 21-01180. The claim alleges that due diligence was not completed on the investments prior to the customer’s transaction.
Cohen is also referenced in a customer initiated investment related FINRA securities arbitration claim which was resolved for $200,000.00 in damages founded on accusations of improper due diligence relating to direct participation program or limited partnership interests at BCG Securities. FINRA Arbitration No. 20-00641 (July 28, 2021). According to the claim, the alternative investments were unsuitable.
FINRA Public Disclosure additionally shows that Cohen has been barred from associating with any FINRA member in any capacity according to a FINRA Decision and Order of Offer of Settlement containing findings of Cohen converting funds relating to false expense reports in violation of FINRA Rule 2010 and causing MetLife’s records and books to be inaccurate in violation of FINRA Rule 4511. Department of Enforcement v. Mark C. Cohen, No. 2014040761001 (September 4, 2018).
Cohen was associated with BCG Securities between May 19, 2014, and September 5, 2018.
