According to FINRA, Mark Tauzin (CRD# 1716373, Lafayette, LA) has been suspended for eight months from the securities industry. He has also been charged with “a $20,000 fine and disgorgement of ill-gotten gains in partial restitution to customers in the total amount of $205,115,02, plus interest.”
According to the FINRA announcement, Tauzin allegedly engaged in a pattern of unsuitable short-term trading of front-loaded Unit Investment Trusts in connection with the accounts of 14 households from November 2012 through November 11, 2014.
For FINRA’s full findings see, FINRA case # 2014043506501.
According to FINRA BrokerCHeck, Tauzin was registered with LPL Financial, LLC in Lafayette, LA from 09/2009 – 11/2014. Tauzin has one pending customer dispute from August 2015 listed on his BrokerCheck. The customer in that claim alleges unsuitability, misrepresentations, and unauthorized trading in connection with her UIT investments. The damage amount requested is $774,836.00.
According to FINRA, Tauzin was also allegedly discharged from LPL Financial LLC on 11/12/14 for “violation of the firm’s document signature policy and concerns regarding short term UIT trading.” The White Law Group is investigating the liability that LPL may have for failure to properly supervise Tauzin.
Brokerage firms are required to adequately supervise their agents to ensure they are complying with FINRA rules and if it is determined that the firm failed to properly supervise their agent, the firm can be held responsible for any losses in a FINRA arbitration claim.
If you suffered losses investing with Mark Tauzin, financial advisor, and LPL Financial, the securities 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 on The White Law Group and it’s representation of investors, visit www.whitesecuritieslaw.com.
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