Mark Menard Investigation
July 2022- Houston, TX
According to available records, Mark Menard, a broker previously with Merrill Lynch, Pierce, Fenner & Smith, who now works for Cantella & Co., Inc. , discloses a regulatory suspension and a termination.
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.
In June of 2020, without admitting or denying the findings, Menard consented to the sanctions and to the entry of findings that he falsified documents as an accommodation for customers, with their permission, by manually copying and pasting customer signatures onto Letter of Assignment of estate forms. The findings stated that Menard did this after the customers, who were beneficiaries of their deceased parents’ IRAs, requested distribution of their inherited shares of IRAs. After Menard’s member firm obtained authentic signatures from each customer, the forms resulted in the movement of funds from the parents’ IRAs to the customer’s inherited IRAs. Sanctions ordered were a 45 day suspension and a $5,000 fine to be paid by Menard individually.
In June of 2019, Menard was terminated from employment with Merrill, Lynch, Pierce, Fenner & Smith after allegations that his conduct including alteration of client documents, resulted in a loss of management confidence.
Menard had been employed with Merrill, Lynch, Pierce, Fenner & Smith since August of 1997.
Menard has been with Cantella & Co., Inc. since July of 2019 and does business as King Capital Advisors.
If you have questions about an account handled by Mark Menard, call to speak with an experienced securities attorney. No charge for initial consultation.
Rex Securities Law , with offices in Boca Raton, FL, and Austin, TX, provides representation to investors nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.
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