FINRA Questions Marcus D. Parker on Misappropriating Client Funds
According to the Financial Industry Regulatory Authority (FINRA), on February 16, the regulator issued a letter of Acceptance, Waiver and Consent, in which Marcus D. Parker (CRD #1031962, Galisteo, New Mexico) was barred from association with any FINRA member in all capacities.
Without admitting or denying the findings, Parker reportedly consented to the sanction and to the entry of findings that he refused to respond to FINRA’s requests for documents and information in connection with its investigation of Parker’s termination from his member firm.
The findings stated that according to the firm’s Uniform Termination Notice for Securities Industry Registration filing, it terminated Parker’s registration for his failure to appear for an interview and be questioned about misappropriations from client accounts.
According to his FINRA BrokerCheck report, Parker was registered with Wells Fargo Clearing Services in Sante Fe, NM from September 2008 until December 2017 when he was terminated.
For FINRA’s full findings see FINRA Case #2017056689601.
Failure to Supervise
The White Law Group is investigating former advisor Marcus D. Parker and the liability that his employer may have for failing to properly supervise him.
Brokerage firms are required to adequately supervise their agents to ensure they are complying with FINRA rules. They can held responsible for any losses in a FINRA arbitration claim if it is determined that they failed to properly supervise their agent.
FINRA operates the largest securities dispute resolution forum in the United States, and has extensive experience in providing a fair, efficient and effective venue to handle a securities-related dispute.
If you suffered losses investing with Marcus D. Parker, the attorneys at The White Law Group may be able to help. For a free consultation, please call (888) 637-5510.
The foregoing information, which is all publicly available on FINRA’s website, is being provided by The White Law Group. The White Law Group, LLC is a national securities fraud, securities arbitration, investor protection, and securities regulation/compliance law firm with offices in Chicago, Illinois and Franklin, Tennessee.
For more information please visit www.whitesecuritieslaw.com.
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