FINRA suspends Mark Jude Ketner (CRD #1138522, Dix Hills, New York)
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As reported in InvestmentNews, three Raymond James entities have agreed to pay over $15 million to resolve an investigation by the SEC. The settlement and SEC order focused on Raymond James’s actions in improperly charging certain clients advisory fees when the...read more
March 27, 2018 – A Letter of Acceptance, Waiver and Consent (AWC) was issued in which Ketner was fined $5,000, suspended from association with any FINRA member in all capacities for two months and ordered to pay $1,054.33, plus interest, in restitution to a customer. Without admitting or denying the findings, Ketner consented to the sanctions and to the entry of findings that he engaged in an unsuitable pattern of short-term trading of unit investment trusts (UITs) in connection with the accounts of customers. The findings stated that Ketner repeatedly recommended that these customers sell these products well before their maturity dates. The majority of the UITs that Ketner recommended had maturity dates of at least 24 months and carried sales charges ranging from 1.95 percent to 3.95 percent. Nevertheless, Ketner repeatedly recommended that his customers sell their UIT positions less than a year after purchase. The average holding period for the UITs recommended by Ketner was 195 days. In addition, Ketner recommended on multiple occasions that a customer use the proceeds from the short-term sale of a UIT to purchase another UIT with identical investment objectives. The suspension is in effect from April 16, 2018, through June 15, 2018. (FINRA Case #2016050823601). If you or someone you know has lost money investing with Mark Ketner, call the experienced attorneys at Epperson & Greenidge at 877-445-9261 for a free consultation. You may be eligible to recoup your losses. Epperson & Greenidge accepts all cases on a contingency basis: we only get paid if and when you collect money. Time to file your claim may be limited, so we encourage you to avoid delay. Call 877-445-9261 now to speak to an attorney for free.