Marc Harold Pearl, of Auburn, California, a stockbroker formerly registered with Wells Fargo Advisors, LLC, has been suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based on allegations that he failed provide FINRA staff with a response to their request for information relating to Pearl’s business activities. Letter No. 2015046011701 (May 8, 2017). The Letter revealed that Pearl may be barred by FINRA if the information requested of him is not ultimately provided to FINRA staff.
This is not the first time that Pearl has been sanctioned by FINRA for his misconduct. FINRA Public Disclosure reveals that Pearl was suspended by FINRA staff based on his failure to demonstrate compliance with a customer initiated investment related settlement or arbitration regarding Pearl’s misconduct. Letter No. 16-00848 (Apr. 10, 2017). Specifically, on October 30, 2015, a customer initiated investment related written complaint involving Pearl’s conduct was settled for $27,266.20 in damages based upon allegations that he misled customers and failed to appropriately inform them about fees that they were obligated to pay for investing in unit investment trust products.
Pearl’s registration with Wells Fargo Advisors, LLC, was terminated on June 29, 2015. He was terminated from prior employer, Raymond James Financial Services, Inc., on January 12, 2012, based upon allegations that he failed to delegate duties in compliance with the firm’s policies.
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