Former R.M. Stark & Co., Inc. broker Thomas Marino (CRD# 4438533) was barred by FINRA regarding possible misuse of funds from a senior customer.
Marino was registered with R.M. Stark & Co., Inc. in Delray Beach, Florida from 2012 to 2019, when he was terminated regarding, “client alleges inappropriate an unsuitable investments for her objectives and risk tolerance.”
Marino was registered with J.W. Cole Financial, Inc. in Sarasota, Florida from 2009 to 2012, when he was terminated regarding, “representative submitted business for variable annuities as new purchases when in fact they were exchanges.”
In July 2019, FINRA barred Marino after he consented to the sanction and to the entry of findings that he refused to provide documents and information requested by FINRA in connection with its investigation into his possible misuse of funds from a senior customer.
Marino has been the subject of three customer complaints between 2005 and 2019, one of which was denied, according to his CRD report. The most recent complaint is regarding:
April 2019. “Client alleges inappropriate and unsuitable investments for her risk tolerance.” The customer is seeking $300,000 in damages and the case is currently pending. This case is regarding variable annuities.
Pursuant to FINRA Rules, member firms are responsible for supervising a broker’s activities during the time the broker is registered with the firm. Therefore, R.M. Stark & Co., Inc. may be liable for investment or other losses suffered by Marino’s customers.
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