Mark B. Beloyan and TradeSpot Markets, Inc.—Penny Stock Recommendations without Proper Compliance

Rochester stockbroker fraud attorneyMark B. Beloyan and TradeSpot Markets, Inc. Allegedly Recommended Penny Stocks and Took Part in Penny Stock Transactions without Proper Compliance

Mark B. Beloyan and TradeSpot Markets, Inc. allegedly recommended penny stocks and engaged in penny stock transactions without the proper required compliance for penny stock transactions, according to a Complaint from FINRA’s Department of Enforcement currently under review by attorneys Alan Rosca and James Booker.

Beloyan allegedly sent customers a Customer Suitability Statement for their review and signature without first documenting an affirmative determination of suitability on the document, the Complaint also alleges.

The Peiffer Rosca Wolf securities lawyers are currently investigating Mark B. Beloyan’s alleged recommendation of penny stocks without the proper required compliance.

Mark B. Beloyan of TradeSpot Markets Allegedly Recommended Penny Stocks to Customers but Failed to Make Affirmative Determinations of Suitability

Mark B. Beloyan and TradeSpot Markets, Inc. allegedly recommended penny stocks to customers but failed to make affirmative determinations of suitability, in violation of FINRA Rules, according to the aforementioned Complaint being examined by attorneys Alan Rosca and James Booker.

Mark B. Beloyan, in addition, allegedly inappropriately completed the dates next to certain customer signature lines on Customer Suitability Statements and Agreement to Purchase forms before sending said documents to customers, the Complaint notes.

FINRA notes that the aforementioned conduct allegedly occurred while trading shares of Mondial Ventures, Inc. and STW Resources Holding Corp, and further alleges that Beloyan often entered information on the customer’s suitability form after the customer had signed it, the Complaint reports.  FINRA is reportedly seeking to fine Beloyan and TradeSpot Markets for this conduct.

Securities Lawyers Investigating

The Peiffer Rosca Wolf securities lawyers often represent investors who lose money as a result of unsuitable recommendations of penny stocks and are currently investigating Mark B. Beloyan’s alleged recommendation of penny stocks and engagement in penny stock transactions without the proper required compliance alleged private securities transactions. They take most cases of this type on a contingency fee basis and advance the case costs, and only get paid for their fees and costs out of money they recover for their clients.

Investors who believe they lost money as a result of Mark B. Beloyan’s alleged recommendation of penny stocks and engagement in penny stock transactions without the proper required compliance alleged private securities transactions are encouraged to contact the securities lawyers at Peiffer Rosca Wolf, Alan Rosca or James Booker, for a free no-obligation evaluation of their recovery options, at 888-998-0520.

Alan Rosca (1141 Posts)

Alan is a securities lawyer. He also teaches Securities Regulation at the Cleveland-Marshall College of Law. He focuses his legal practice on complex commercial and financial litigation and arbitration, particularly in the areas of securities and investment fraud. His office is in Cleveland, Ohio.


In our legal system, every person is innocent until and unless found guilty by a court of law or a tribunal. Whenever we reference “allegations” or charges that are “alleged,” such allegations or charges have not been proven, and are merely accusations, not findings of fault, as of the date of the blog. We do not have, nor do we undertake, a duty to continue to monitor or follow cases about which we report, and/or to publish subsequent blogs regarding various developments that may occur in such cases. Readers are encouraged to conduct their own research regarding any such cases and any developments that may or may not have occurred in such cases.