Publicly available records published by the Financial Industry Regulatory Authority (FINRA) on September 18, 2016 indicate that Massachusetts-based Commonwealth Financial Network broker/adviser Mark Sparhawk has been the subject of customer complaints and a regulatory sanction. The securities and investment fraud law firm Fitapelli Kurta is interested in speaking to investors who have complaints regarding Mr. Sparhawk (CRD# 1550276).
Mark Sparhawk has spent 28 years in the securities industry and has been registered with Commonwealth Financial Network in Auburn, Massachusetts since 1995. Previous registrations include Fisco Equity in Lincoln, Rhode Island; GNA Securities in Richmond, Virginia; Equities International Securities; and First Investors Corporation. He is a registered broker and investment adviser with 25 US states and territories.
According to his BrokerCheck report, Mark Sparhawk has received two customer complaints and one regulatory sanction.
In 2014 a customer alleged Mark Sparhawk, while employed at Commonwealth Financial Network, sold unsuitable securities. The complaint settled in May 2016 for $87,500.
In 2012 a customer alleged Mark Sparhawk, while employed at Commonwealth Financial Network, recommended investments which he (the customer) was unaware were illiquid. The complaint settled in 2013 for $30,000.
In 1989 the State of Massachusetts sanctioned Mark Sparhawk following unspecified allegations. He was issued a fine of $3,000.
According to FINRA rules and federal securities law, investment professionals like John Galinsky must abide by a standard called suitability, meaning they must recommend only investments that are suitable for their clients. Brokers must weigh such factors as the customer’s investment goals, experience, age, income, risk tolerance, and others. They may not misrepresent or omit material facts pertaining to an investment, as misrepresentations or omissions might lead a customer to invest unsuitably. Brokers who fail to recommend suitable investments may be subject to disciplinary action by FINRA or the Securities and Exchange Commission.
If you have complaints regarding Mark Sparhawk, call the securities and investment fraud law firm Fitapelli Kurta at 877-238-4175 for a free consultation. You may be entitled to recoup your losses. All cases are taken on contingency: we only receive payment if and when you recover money. You may have a limited window to file your complaint, so we encourage you to avoid delay. Call 877-238-4175 now to speak to an attorney for free.