Securities Lawyers Blog
According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Mary Beslagic (Beslagic), previously associated with Edward Jones, has at least 2 disclosable events. These events include one customer complaint, one tax lien, alleging that Beslagic recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.
FINRA BrokerCheck shows a final customer complaint on December 12, 2024.
Without admitting or denying the findings, Beslagic consented to the sanctions and to the entry of findings that she willfully violated Rule 15l-1(a)(1) under the Exchange Act (Reg BI) by recommending that customers of her member firm invest proceeds of their home equity loan in mutual funds, which was not in the customers’ best interest. The findings stated that Beslagic was aware of the customers’ intended use of their liquified home equity proceeds and that the customer had several near-term liquidity needs. The mutual funds began declining in value shortly after the customers purchased them, resulting in the customers selling a portion of their investments at a loss and taking out margin loans totally approximately $25,000 to meet their near-term liquidity needs. Beslagic’s firm provided compensation to the customer for their losses.
