Marcus Debaise: Permanently Barred From SEC

Marcus Debaise

Public records provided by the Financial Industry Regulatory Authority (FINRA) on February 20, 2017 indicate that former Connecticut-based Wells Fargo broker Marcus Debaise has been permanently barred from acting as a broker or otherwise associating with firms that sell securities to the public. Fitapelli Kurta is interested in hearing from investors who have complaints regarding Mr. Debaise (CRD# 2404266).

Marcus Debaise has spent 21 years in the securities industry and was most recently registered with Wells Fargo Advisors in Glastonbury, Connecticut (2003-2015). Previous registrations include Prudential Securities in New York, New York (2000-2003) and Legg Mason Wood Walker in Baltimore, Maryland (1993-2000). Mr. Debaise is currently not registered with any state or firm.

According to his BrokerCheck report, he has been the subject of 32 customer complaints and seven pending customer complaints.

In February 2017 a customer alleged Marcus Debaise, while employed at Wells Fargo Advisors, over-concentrated the account in energy investments, failed to diversify the account, failed to mitigate risks, made unsuitable recommendations, and executed unauthorized trades. The customer is seeking $750,000 in damages in the pending complaint.

In January 2017 a customer alleged Marcus Debaise, while employed at Wells Fargo Advisors, over-concentrated the account in unsuitable investments, failed to exercise sell discipline to manage losses, and made inappropriate recommendations. The customer is seeking $200,000 in damages in the pending complaint.

In October 2016 a customer alleged Marcus Debaise, while employed at Wells Fargo Advisors, executed unauthorized trades, failed to diversify investments, recommended unsuitable products, and failed to mitigate risks. The customer is seeking $350,000 in damages in the pending complaint.

In May 2016 FINRA sanctioned him following allegations he failed to respond to a request for information. He was permanently barred from acting as a broker or otherwise associating with firms that sell securities to the public.

In 2014 a customer alleged he, while employed at Wells Fargo Advisors, effected unauthorized transactions and failed to diversify investments. The complaint settled for $53,000.

In 2014 a customer alleged he, while employed at Wells Fargo Advisors, over-concentrated investments, did not exercise loss management, and made unauthorized trades. The complaint settled for $353,600.

In 2013 a customer alleged he, while employed at Wells Fargo Advisors, made unsuitable investment recommendations. The complaint settled for $300,000.

If you or someone you know has lost money investing with Marcus Debaise, call Fitapelli Kurta at 877-238-4175 for a free consultation. You may be eligible to recoup your losses. Fitapelli Kurta 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 877-238-4175 now to speak to an attorney for free.