Mark Alan Cline & GWG L-Bond Investigation
Updated December 2023
Wildwood, FL
The FINRA records of Mark Allen Cline, a former National Securities Corp. broker discloses 18 settled prior suits and 2 pending suits by customers. Losses are sought for investments in private placements and GWG L-bonds.
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.
Between 12/19 and 5/21, eleven National Securities Corp. customers filed separate FINRA cases alleging unsuitability in private placement investments . These cases were settled for a collective sum of $1,145,000.
From 12/19 until 7/22, five more National Securities Corp. customers have filed FINRA cases alleging suitability in private placement and GWG L-Bonds investments as follows:
- FINRA case #22-01585- seeking damages $55,000-settled for $22,500
- FINRA case #22-01086- seeking damages $90,000–settled for $45,000
- FINRA case #22-03327- seeking damages $100,000-settled for $20,000
- FIRNA case #20-03327 – seeking damages $100,000
- FINRA case #19-03727- seeking damages $400,000
As of December 2023 there are two GWG L Bond cases pending which seek total damages of $150,000.
As we have previously reported, investors in GWG L-Bonds face significant losses and we recommend consultation as soon as possible to explore your options for recovery.
How to recover losses on GWG Bonds
Cline was registered with National Securities Corp. from 1/2014- 1/2022. He also discloses an association with Cline Enterprises d/b/a CFG Capital located in Wildwood, FL.
If you have losses in an account handled by Mark Alan Cline, call to learn how you may be entitled to collect damages through FINRA arbitration.
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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