Written by The White Law Group• September 10, 2021• 7:57 pm• Blog, Current Investigations

Mark Sachse Barred from Securities Industry

FINRA Bars Mark Sachse after Allegations of Unsuitable Investments

According to the Financial Industry Regulatory Authority (FINRA), Mark Sachse (CRD#: 5155260) reportedly failed to request termination of his suspension within three months of the date of the Notice of Suspension; therefore, he is reportedly automatically barred from association with any FINRA member in all capacities.

Sachse’s broker profile indicates that Ameriprise discharged him in 2018 after FINRA allegedly suspended him due to company policy violations related to the code of conduct, including purportedly impersonation of home office personnel and providing misleading information to a client.

Sachses’ customer reportedly filed a putative class action complaint alleging securities fraud and breach of fiduciary duty. The customer claims that “Sachse recommended unsuitable investments, including trading on margin, and engaged in unauthorized trading,” according to FINRA. The customer further alleges that the defendants and Sachse “made false and fraudulent statements and failed to disclose material information.” The damage amount requested is $450,000, according to FINRA.

According to FINRA, Sachse was affiliated with the following firms:

08/06/2010 – 03/23/2018, AMERIPRISE FINANCIAL SERVICES, INC. (CRD#:6363), OVERLAND PARK, KS
07/31/2006 – 08/09/2010, ROBERT W. BAIRD & CO. INCORPORATED (CRD#:8158), KANSAS CITY, MO

Potential Lawsuits to Recover Financial Losses

The White Law Group is investigating potential securities fraud lawsuits regarding the liability that Sachse’s employers may have for failure to properly supervise him.

When brokers violate securities laws, such as making unauthorized transactions or unsuitable investments, the brokerage firm they are working with may be liable for investment losses through FINRA Arbitration. Brokerage firms that fail to monitor the business activities of their employees may be liable for investment losses due to negligent supervision for the misconduct of their employees.

The White Law Group is a national securities fraud, securities arbitration, and investor protection law firm with offices in Chicago, Illinois. We represent investors in FINRA arbitration claims in all 50 states including Kansas. Our attorneys have recovered millions of dollars from many brokerage firms in the past.