TradeSpot Markets, Inc. and Beloyan—Recommendation of Pennt Stocks without Compliance

Cleveland stockbroker fraud lawyerTradeSpot 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.

Alan Rosca (1247 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.