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WARNING! Impending Investigation–MARK S. GARRISON and NY LIFE SECURITIES

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08
Jul

WARNING! Impending Investigation–MARK S. GARRISON and NY LIFE SECURITIES

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Mark Garrison and NY Life Securities

We are currently investigating allegations made against Mark S. Garrison of Greenville, South Carolina.  Mark S. Garrison was a registered representative and financial advisor of NY Life Securities in its Greenville, South Carolina office, from 1989 to April 2012.

Mr. Garrison was recently suspended for 14 months and fined $37,043 by FINRA (the Financial Industry Regulatory Authority).  FINRA investigated Mark Garrison after he recommended that a number of his customers invest in a silver company called Atlantic Bullion & Coin, Inc. (“ABC”).   Unfortunately, the investments in Atlantic Bullion & Coin were not registered to be sold as securities, and it is alleged that investors’ money was misappropriated.  Mr. Garrison was suspended because it is alleged that he did not properly disclose his transactions with Atlantic Bullion & Coin.  Moreover, Garrison did not adequately investigate whether ABC was a legitimate, viable entity and therefore did not have a reasonable basis for recommending this product to his customers, in violation of FINRA rules.

Broker-dealers like NY Life Securities have a responsibility to adequately supervise all representatives who are registered through their firm, including investments sold by their registered representatives.  Broker-dealers also must take steps to ensure that their financial advisors follow all securities rules and regulations, as well as internal firm policies.  When broker-dealers fail to adequately supervise their registered representatives, they may be liable for investment losses sustained by customers.  If you have lost money through Mark Garrison or Atlantic Bullion & Coin and want to hear about ALL legal options, please visit https://www.israelsneuman.com/ or call us at 720-599-3505.

Israels & Neuman, PLC is a private law firm and is not affiliated with any government or law enforcement agency. Any investigation referenced in this blog is independent in nature and is being conducted by our law firm privately, not in conjunction with any government or law enforcement agency. All information contained in this blog should be deemed statements of opinion derived from the author’s review of public records, not statements of fact. This blog is advertising material and does not create an attorney client relationship, nor does it constitute legal advice. Everyone’s situation is different and the question of whether or not you have a claim will vary on a case-by-case basis. In contingent representation, clients may still be liable for costs.
10.0David P Neuman

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