Mark Katz of San Diego California a stockbroker formerly associated with Hilltop Securities Inc. has been referenced in a customer initiated investment related complaint on February 18, 2020 in which the customer requested $357,000.00 in damages supported by allegations of unauthorized and excessive trading in the customer’s account by Katz which caused the Hilltop Securities customer to experience losses.
According to the complaint, the customer was placed into over-the-counter equities, mutual funds and unit investment trust products that failed to be suitable and which were misrepresented by Katz. The claim also indicated that Katz breached a fiduciary duty and had financially exploited the customer.
FINRA Public Disclosure reveals that Katz has been identified in two additional customer initiated investment related disputes containing allegations of his misconduct while employed with Hilltop Securities. On August 5, 2016, a customer filed an investment related complaint involving Katz’s conduct in which the customer requested $27,200.00 in damages based upon allegations that the customer had been placed into Mainstay Cushing Energy Income Fund – an investment which failed to be suitable for the customer and which had been misrepresented by the stockbroker. According to the claim, the customer was not made aware of critical information regarding the investment. The claim also alleges that the customer’s diminished capacity was exploited by Katz and that mutual fund transactions were not authorized.
On February 13, 2020, another customer filed an investment related complaint concerning Katz’s activities where the customer sought $50,000.00 in damages founded on accusations of misrepresented master limited partnerships and non-traded real estate investment trust products being sold by Katz while he was employed by Hilltop Securities. The claim alleges that the customer was provided bad investment advice from the stockbroker and had experienced poor investment performance on alternative investments. According to the claim, a fiduciary duty that was owed to the customer had been violated by Katz.
Katz was associated with Hilltop Securities between December 10, 2008 and June 14, 2019. Since July 3, 2019, he has been associated with Western International Securities Inc.