December 2016-Davie, FL
The FINRA records of Mark B. Beloyan, a stockbroker with Tradespot Markets, Inc. , disclose 3 prior regulatory events that are final and two financial disclosures.
The Financial Industry Regulatory Authority (FINRA) is the agency that licenses and regulates stockbrokers and brokerage firms. FINRA requires brokers and brokerage firms to report customer complaints and disputes as well as regulatory sanctions. In addition brokers are required to disclose certain financial matters such as personal bankruptcies, judgments and liens.
In May 2016 Beloyan was named in a FINRA complaint alleging that he recommended penny stocks and engaged in penny stock transactions without complying the regulations required by the Securities Exchange Act. In addition, FINRA alleged that Beloyan sent customers suitability statements without first documenting an affirmative determination of suitability on the document in violation of industry rules and then altered information on the suitability forms.
Beloyan was suspended by FINRA in his capacity to function as a principal for 50 days. FINRA noted that “In light of Beloyan’s status, no monetary sanction has been imposed.”
In 2011, Beloyan was suspended for 2 months by FINRA in connection with the sale of unregistered shares and low priced stock. In 2012 Beloyan was suspended for 10 days for distribution of correspondence recommending the purchase of securities without providing a sound basis for his recommendation of the stock.
FINRA records indicate Beloyan settled two outstanding debts by compromise in 2012 and 2013.
Beloyan has been employed by Tradespot Markets, Inc. since 3/1992. He is also associated with Beloyan Investment Securities, Inc. in Davie, Florida.
If you have losses in an account in an account handled by Mark Beloyan , contact us to discuss how you may be able to recover damages for those losses.
Rex Securities Law , with offices in Boca Raton, FL, and Austin, TX, provides representation to investors nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.
Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.
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