Mark Katz, of San Diego, California, a stockbroker formerly registered with Hilltop Securities Inc., is the subject of a customer initiated investment related written complaint on February 18, 2020, where the customer sought $357,000.00 in damages supported by accusations of breach of fiduciary duty and misrepresentation by Katz concerning the customer’s investments at Hilltop Securities. According to the complaint, Katz effected unauthorized, unsuitable, and excessive trades in the customer’s account pertaining to unit investment trusts, mutual funds, stocks, over-the-counter equities, and corporate bonds. The complaint also alleges financial exploitation by Katz at Hilltop Securities.
FINRA Public Disclosure shows that Katz has been identified in another customer initiated investment related disputes regarding allegations of his wrongdoing at Hilltop Securities. On August 5, 2016, a customer filed an investment related FINRA arbitration claim concerning Katz’s conduct in which the customer requested $27,200.00 in damages based upon accusations of unsuitable investment recommendations concerning Mainstay Cushing Energy Income Fund when Katz was registered with Hilltop Securities. The claim alleges that the customer’s diminished capacity was taken advantage of by Katz. The claim also alleges misrepresentations relating to the customer’s mutual fund investments.
Katz’s stockbroker and investment adviser registrations with Hilltop Securities were terminated on June 14, 2019. Since July 3, 2019, Katz has been registered with Western International Securities Inc.