FINRA suspends Robert Mark Malbasa (CRD #1311830, Cleveland, Ohio)
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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 Malbasa was assessed a deferred fine of $5,000 and suspended from association with any FINRA member in all capacities for three months. Without admitting or denying the findings, Malbasa consented to the sanctions and to the entry of findings that he willfully failed to timely disclose on his Form U4 tax liens filed against him by the Internal Revenue Service and the State of Ohio. The findings stated that Malbasa was aware of the unsatisfied liens and was required to timely file an amended Form U4 to disclose each of them. Malbasa did not file an amended Form U4 disclosing these liens until after FINRA notified his member firm of his liens. The suspension is in effect from April 2, 2018, through July 1, 2018. (FINRA Case #2016049588501). If you or someone you know has lost money investing with Robert Malbasa, 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.