DID MARK ALLEN UPCHURCH CAUSE YOU INVESTMENT LOSSES?
Mark Upchurch Formerly With Centaurus Financial, Inc. Has 10 Customer Complaints For Alleged Broker Misconduct
About Mark Upchurch formerly with Centaurus Financial, Inc.?
Mark Upchurch (CRD #2937074) has a career spanning over 25 years in the securities industry. He was last registered with Centaurus Financial, Inc. (2012–2020) and previously worked for Brookstone Securities, Inc. (2007–2012), among other firms. Over his career, Mr. Upchurch has been associated with seven firms but he is no longer registered. He holds several qualifications, including passing the Series 24 (General Securities Principal) and Series 7 (General Securities Representative) exams, as well as the Series 65 and Series 63 multi-state securities law exams. During his tenure, Mr. Upchurch faced one regulatory action, one termination of employment and numerous complaints about his professional conduct. He is also a Certified Financial Planner, indicating additional expertise in financial advisory services.
Investment Losses? Let’s talk.or, give us a ring at (800) 732-2889.
Mark Upchurch Customer Complaints and Reviews
The report lists several disclosures, including 1 regulatory action, 10 customer disputes and one employment termination.
Customer Disputes (9 settled, 1 pending):
- Regulatory Action October 2, 2006:
- Details: Fined $5,000 and suspended for 30 business days for signing a customer’s name on an account transfer form without permission. This occurred while employed at Citigroup Global Markets, Inc.
- Ten Customer Disputes:
- Dispute 1 (2023): Alleged unsuitable, high-risk investment.
- Outcome: Settled for $47,500.
- Dispute 2 (2022): Alleged illiquid investment recommendation.
- Outcome: Settled for $125,000.
- Dispute 3 (2022): Alleged risky investment.
- Outcome: Settled for $15,000.
- Dispute 4 (2022): Alleged speculative investment.
- Outcome: Settled for $25,000.
- Dispute 5 (2022): Alleged misrepresentation.
- Outcome: Settled for $35,000.
- Dispute 6 (2021): Alleged unsuitable investments and fees.
- Outcome: Settled for $47,500.
- Dispute 7 (2018): Alleged misrepresentation in securities.
- Outcome: Settled for $17,500.
- Dispute 8 (2006): Alleged unauthorized trading.
- Outcome: Settled for $4,143.81.
- Dispute 9 (2004): Alleged unsuitable recommendations.
- Outcome: Settled for $15,000.
- Dispute 10 (2024, Pending): Alleged high-risk investments
- Status: $500,000 damages.
- Employment Termination:
- Date: August 15, 2006
- Details: Terminated from Southwest Securities, Inc., for failing to notify the firm of a regulatory investigation.
Allegations Against Mark Upchurch
The disclosures against Mr. Upchurch raise concerns about professional conduct:
- Regulatory Violations: Signing a customer’s name on a form without authorization reflects poor compliance practices. This action led to suspension and a monetary fine.
- Customer Complaints: The 10 disputes primarily involve allegations of unsuitable investment recommendations and misrepresentation. Settlements totaling over $300,000, suggest significant client dissatisfaction.
- Pending Complaint: A pending case alleging $500,000 in damages for unsuitable investments highlights unresolved concerns about his professional judgment.
- Employment Termination: The failure to report a regulatory investigation led to termination, indicating issues with adherence to firm policies and industry standards.
Mark Upchurch Red Flags & Your Rights As An Investor
Of course, Mark Upchurch did not admit to any of the allegations. But regardless of whether an arbitration award was entered, a settlement occurred, or the customer complaint is still pending, the allegations made by customers are red flags which should put all current and former customers of Mark Upchurch at Centaurus Financial, Inc. on alert to review carefully the activity and performance of their accounts and question whether Mark Upchurch has engaged in any stockbroker misconduct that may have caused them investment losses. The large number of customer complaints at Centaurus Financial, Inc. also raises questions about the brokerage firm’s supervisory practices. If these red flags raise questions, call us and we will inform you of your rights as an investor.
Did You Lose Money Because of Broker Misconduct?
If you have lost money due to negligence or fraud by a stockbroker or advisor, the easiest way to know if you have a case is to call our office at 800-732-2889. Our investment fraud attorneys will evaluate your claim for free and let you know if we can help you recover your losses.
Need Legal Help? Let’s talk.or, give us a ring at 561-338-0037.
File A Claim To Recover Your Investment Losses At Centaurus Financial, Inc. Due To Mark Upchurch
If you have questions about Centaurus Financial, Inc. and/or Mark Upchurch and the management or performance of your accounts, please contact Attorney Pearce for a free initial consultation via email or Toll Free at 1-800-732-2889.
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