Mark Robert Holcombe, of Westport, Connecticut, a stockbroker formerly registered with Source Capital Group, Inc., has been fined $10,000.00 and suspended from associating with a Financial Industry Regulatory Authority (FINRA) member in any capacity after consenting to findings that he participated in unauthorized private securities transactions. Letter of Acceptance, Waiver and Consent, No. 2015048236401 (Dec. 9, 2016).
According to the AWC, while Holcombe was registered with Source Capital Group, Inc., he had taken part in two private securities transactions pertaining to Trident Brands, Inc. The AWC revealed that Holcombre had served on Trident Brands’ board of directors.
The AWC revealed that a third party purchased two million shares of Holcombe’s Trident Brands stock for $100,000.00. Apparently, Holcombe had also taken part in Trident Brands’ $2,300,000.00 senior secured convertible debentures sale which was made to a third party. The AWC revealed that Holcombe, on Trident Brands’ behalf, executed a note purchase agreement in this regard.
Apparently, Source was never apprised about any of Holcombe’s securities transactions which took place outside the auspices of the firm. As such, Holcombe’s conduct was found by FINRA to be violative of FINRA Rule 2010 and NASD Rule 3040.
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