Mark Smith, of Greenwood Village, Colorado, a stockbroker formerly registered with Transamerica Financial Advisors Inc., has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity founded on findings that Smith failed to cooperate in a FINRA investigation regarding allegations of his unauthorized transactions in customer accounts when he was associated with Transamerica Financial Advisors. Letter of Acceptance, Waiver, and Consent No. 2021072110901 (January 26, 2022).
According to the AWC, Transamerica informed FINRA that Smith’s stockbroker registration was terminated. Smith voluntarily resigned, supported by accusations that he made unauthorized transactions in a checking account belonging to a customer.
FINRA states that Smith’s cooperation with the investigation stopped in December of 2021. Smith was asked by FINRA to testify in regard to the allegations of his unauthorized transactions. On December 14, 2021, Smith emailed FINRA to relay that he received its request and would not testify at any point. FINRA found that Smith violated FINRA Rules 2010 and 8210.
FINRA Public Disclosure shows that Smith has been identified in two customer initiated investment related disputes regarding accusations of his misconduct during the period that he was employed by Transamerica Financial Advisors Inc. On August 13, 2021, a customer filed an investment related complaint concerning Smith’s activities where the customer requested $15,000.00 in damages based upon allegations that they invested in a bad cryptocurrency deal because of Smith and have not been able to receive their funds.
Smith is referenced in a customer initiated investment related written complaint on September 3, 2021, in which the customer sought compensatory damages founded on accusations of their signature being used without authorization by Smith on variable annuity applications during the time that Smith was employed by Transamerica Financial Advisors.
Smith was registered with Transamerica Financial Advisors between January 6, 2012, and July 28, 2021.
