Securities Lawyers Blog
The attorneys at Gana Weinstein LLP are investigating BrokerCheck records reports that financial advisor Thomas Marino (Marino), formerly employed by R.M. Stark & Co., Inc. (R.M. Stark) has been subject to at least three customer complaints, one regulatory sanction, one financial disclosure, and two terminations for cause. According to records kept by The Financial Industry Regulatory Authority (FINRA), Marino’s customer complaints alleges that Marino recommended unsuitable securities recommendations among other allegations of misconduct relating to the handling of their accounts.
In July 2019 Marino consented to the sanction and to the entry of findings that Marino refused to provide documents and information requested by FINRA in connection with its investigation into his possible misuse of funds from a senior customer. As a result, Marino drew an automatic bar from the industry.
In June 2019 Marino was discharged from R.M. Stark after the firm alleged that he engaged in inappropriate and unsuitable investments for a client’s risk tolerance and objectives.
In April 2019 a customer complained that Marino violated the securities laws by alleging that the financial advisor made inappropriate and unsuitable investments for her risk tolerance. The claim alleges $300,000 in damages and is currently pending.