Marianne O’Shee Smith Investigation
According to publicly available records Marianne O’Shee Smith a former broker who last worked for Cetera Advisors, discloses a final regulatory matter resulting in a permanent bar from the industry.
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 4/2022 without admitting or denying the findings, Smith consented to the sanction and to the entry of findings that she converted $45,100 from member firm senior customers. The findings stated that three customers gave checks to Smith to use for their mutual funds investments. Smith instead used the customer check, without their prior consent, to purchase mutual fund shares for a family member of Smith. As a result of these findings, Smith was permanently barred from FINRA in all capacities.
FINRA permanently barred Smith from the industry to resolve allegations that she failed to appear for on-the-record testimony requested by FINRA during the course of an investigations into allegations made in a Form U5 submitted by her member firm that stated that she was terminated after allegations that she involved an unregistered person in activities that require registration.
If you have suffered losses in an account handled by Marianne O’Shee Smith, contact us for a no charge consultation to learn how you may be able to recover 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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