TradeSpot Markets, Inc. and Beloyan—Recommendation of Pennt Stocks without Compliance
TradeSpot Markets, Inc. and Mark B. Beloyan Allegedly Engaged in Penny Stock Transactions without Proper Compliance
TradeSpot Markets, Inc., acting through Mark B. Beloyan, allegedly engaged in penny stock transactions without complying with the proper requirements 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, the President, Chief Operating Officer, Chief Compliance Officer, and Owner of TradesSpot, specifically, for 12 clients regarding 15 transactions, allegedly failed to properly determine the suitability on Customer Suitability Statements, the aforementioned Complaint reports.
The Peiffer Rosca Wolf securities lawyers are currently investigating Mark B. Beloyan and his TradeSpot Markets, Inc.’s alleged improper penny stock transactions.
Mark B. Beloyan Allegedly Entered Information Pertaining to “Suitability Determination” Only after Customers Signed and Returned Their Customer Suitability Statements
Mark B. Beloyan, working from a TradeSpot branch office in Davie, Florida, allegedly often entered customer information in the “Suitability Determination” section of the Customer Suitability Statement only after customers had already signed and returned said document to TradeSpot, according to the aforementioned FINRA Complaint being examined by attorneys Alan Rosca and James Booker.
FINRA also state that said transactions allegedly transpired whilst trading shares of Mondial Ventures, Inc. and STW Resources Holding Corp, the Complaint notes, but that there are no allegations of misconduct made as to either company.
As a result of the aforementioned conduct, TradeSpot has allegedly been censured and fined $10,000 and Beloyan has also been suspended by FINRA, the Complaint reports.
Securities Lawyers Investigating
The Peiffer Rosca Wolf securities lawyers often represent investors who lose money as a result of alleged penny stock schemes. They are currently investigating Mark B. Beloyan and his TradeSpot Markets, Inc.’s alleged improper penny stock 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 and his TradeSpot Markets, Inc.’s alleged improper penny stock transactions may contact the securities lawyers at Peiffer Rosca Wolf, Alan Rosca or Joe Peiffer, for a free no-obligation evaluation of their recovery options, at 888-998-0520.