Mark Kaplan - Financial Advisor Mark Kaplan Barred from Securities Industry
Mark Kaplan - Financial Advisor Mark Kaplan Barred from Securities Industry | Goodman & Nekvasil, P.A. May Recover Investor Losses
Mark Kaplan CRD #1978048
Goodman & Nekvasil, P.A. may help investors recover monies that they lost on investments with Mark Kaplan. According to FINRA, Mark Kaplan was barred from the securities industry on March 7, 2018. FINRA reports that Mark Kaplan consented to the sanctions and to the entry of findings that Mark Kaplan violated FINRA Rule 2020 by churning and engaging in unsuitable excessive trading in the brokerage accounts of a senior customer.
The findings stated that Mark Kaplan exercised de facto control over the customer’s accounts and the customer relied on Mark Kaplan to direct investment decisions in Mark Kaplan’s accounts, contacting Mark Kaplan frequently. In addition, according to FINRA, the customer was experiencing a decline in Mark Kaplan’s mental health. According to FINRA, the court granted an application by the customer’s nephew to act as his legal guardian and manage his financial affairs after he was diagnosed with dementia. According to FINRA, Mark Kaplan effected more than 3,500 transactions in the customer’s accounts, which resulted in approximately $723,000 in trading losses and generated approximately $735,000 in commissions and markups for Mark Kaplan and Mark Kaplan’s member firm. According to FINRA, Mark Kaplan never discusses with the customer the extent of his total losses or the aggregate amount he paid in sales charges and commissions. According to FINRA, high turnover rates and cost-to-equity ratios in the customer’s accounts reflect how difficult it would have been for him to obtain sufficient profits to cover the costs of Mark Kaplan’s active trading. According to FINRA, this level of trading was excessive and unsuitable for the customer given his investment profile, including his age, risk tolerance, and income needs. According to FINRA, the firm and Mark Kaplan made a settlement payment totaling $470,000 to the guardian for the customer’s accounts.
If you lost any money on investments with Mark Kaplan, you may be able to recover your losses from Vanderbilt Securities, LLC. This is because Vanderbilt Securities, LLC had a duty to supervise Mark Kaplan.
If you invested with Mark Kaplan, we would like to discuss the possibility of your retaining our firm to represent you in an arbitration action against Vanderbilt Securities, LLC, concerning Mark Kaplan’s conduct. There is no charge for an evaluation of your case. Further, we handle cases on a contingency fee basis. This means that unless we recover money for you, we charge no attorney’s fee. Unless you recover any money, you pay us nothing, not even the costs and expenses which the firm will advance on your behalf.
Kalju Nekvasil, Esq., formerly regional counsel with the NASD, now known as FINRA, has practiced in this area of law for more than 35 years. Goodman & Nekvasil, P.A. has recovered more than $180 million on behalf of victimized investors. If you lost money on investments with Mark Kaplan and would like your case evaluated by a securities attorney (again, there is no charge for an evaluation and all cases are handled on a purely contingency fee basis), please contact us.
Mark Kaplan, Investment Fraud Attorney, Stockbroker Misconduct Disciplinary Actions, Unsuitable Investment Advice, Investment Fraud, Churning, Misrepresentation and Omission of Material Facts, Elder Fraud, Unauthorized Trading, Theft, Selling Away, Unapproved Outside Business, Nationwide, PIABA, SEC, Securities Exchange Commission, NASD, National Association of Securities Dealers, NASDAQ, Dow Jones, Wall Street, New York Stock Exchange, Mark KaplanBack to Blogs