Last Updated: September 2023 (New York, NY)
Mack Miller Investigation Summary
Here’s what you need to know about New York, NY, stockbroker Mack Miller:
- Name: Mr. Mack Leon Miller
- Current Employer: Spartan Capital Securities
- Previous Firms: Dawson James Securities, Lampert Capital Markets, Viewtrade Securities
- Function: Stock Broker/ Financial Advisor
- Aliases: Mark Miller
- Primary Location: New York, NY
- CRD 2822317
- Can Mack Miller be sued in FINRA arbitration: Yes
- Sanctioned by FINRA: Yes
- Highest Settlement: $7,500
- Discharged by Prior Employer: Yes
- Outstanding Tax Lien: Yes
Discuss your case with experienced investment fraud lawyer Bob Rex at (877) 224-3199 for a free consultation.
Did You Lose Money With Mack Miller As Your Stockbroker?
In 4/2020 FINRA sanctioned Mack Miller for churning the account of a 79 year old retired customer. According to the FINRA Letter of Acceptance, Waiver and Consent, from 11/2004-5/2016, Miller was registered with 19 different firms, generally for less than a year each. FINRA found that Miller exercised de facto control over the elderly client’s account and engaged in quantitatively excessive trading in the account. According to FINRA Miller’s trading in the account resulted in an annualized turnover rate of 9.999 and an annualized cost-to-equity ratio of 31.55%.
Per FINRA “A Turnover rate of six or a cost-to-equity ration above 20 percent generally indicates excessive trading.”
FINRA suspended Miller for five months and fined him $2,500.
In 7/2014 a customer of Coastal Equities, one of Miller’s many prior employers, was paid $7,500 to resolve allegations that Mack Miller churned the account and made unsuitable recommendations.
Allegations of Broker Misconduct Against Mack Miller
A customer of Mack Miller and FINRA have alleged the following wrongdoing in connection with the handling of customer accounts:
- Unsuitable Investment Recommendations
- Churning– excessively trading account
The Financial Industry Regulatory Authority (FINRA) is the agency that licenses and regulates stockbrokers and brokerage firms. FINRA requires brokers and brokerage firms to report customer complaints and disputes as well as regulatory sanctions. In addition brokers are required to disclose certain financial matters such as personal bankruptcies, judgments and liens.
Recover Your Investment Losses Now With Rex Securities Law
If you have suffered investment losses in an account handled by Mack Miller, contact us for a complimentary consultation with an experience securities lawyer to learn how you may be able to recover damages through FINRA arbitration.
With offices in Boca Raton, FL and Austin, TX, stockbroker fraud attorney Bob Rex provides representation to investors nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers, financial advisors and broker dealers.
If you have questions about how your account has been handled, call (877) 224-3199 to speak with an experienced securities attorney at no cost to you.
Most cases are handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.
