March 2019 – Del Mar, CA
According to publicly available records Mark Fred Augusta (CRD#1333913) , a stockbroker who is currently registered with Hilltop Securities, Inc., disclose 15 prior customer disputes, 4 pending customer disputes and a termination from employment.
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 March 2016, Mark Augusta was the subject of FINRA Case 16-0847, brought by a customer of Wedbush Securities, who asserted violations of state and federal securities laws and FINRA/SEC Rules; breach of fiduciary duty; unsuitable recommendations; failure to supervise; constructive fraud, common law fraud and fraud by material misrepresentations/omissions; unjust enrichment; unauthorized trading and elder financial abuse. A FINRA arbitration panel awarded the customer $1,866,473.
In March of 2018, a Wedbush Securities , Inc. customer filed FINRA case 18-00975 alleging breach of fiduciary duty, constructive fraud, fraud by material misrepresentations/omissions, breach of written contract and elder abuse. The case was settled for $73,900.
In February 2019, a Wedbush Securities customer alleged unauthorized and unsuitable investments with damages of $398,832. The case is pending.
Augusta is currently employed with Hilltop Securities. He was previously employed with Wedbush Securities, Inc., from January 2011 until May 2015 when he voluntarily resigned after after a customer complaint was filed against him. Other places of Augusta’s employment were Stone & Youngberg, Piper, Jaffray & Co. and Miller & Schroeder Financial, Inc.
If you have questions about an investment account handled by Mark Augusta, contact us for a no charge consultation to learn about your legal options.
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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