Meyer Wilson is currently investigating accusations against broker Marc W. Evans that he sold securities without first getting approval from his employing firm.
Marc W. Evans (CRD# 859585) faced accusations that he participated in the sale of private securities without gaining permission from his employing firm. According to filings, Evans convinced 11 of his clients to invest a collective $3,430,000 in GSL shares. The transactions resulted in Evans receiving commissions amounting to $79,500.
Evans also faced accusations that over about a five-year span, he sold real-estate limited partnership interests totaling $5,705,250, yielding $56,572 in commissions. From October 1, 2006 to October 11, 2012, The Oklahoma Department of Securities (ODS) found that Evans had failed to notify and gain permission from Sanders Morris Harris, Inc. (his employer firm) of the following:
- That he was on the Global Safety Labs (GSL) board of directors, and
- That he had participated in securities transactions issued by GSL
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The first is a violation of NASD Conduct Rules 3030 & 2110 and FINRA Rules 3270 & 2010. The latter is a violation of NASD Conduct Rules 3040 & 2110 and FINRA Rule 2010. The ODS issued a consent order (Filed on April 1, 2013) which effectively suspended Evans from practicing securities and imposed a civil penalty of $80,000.
In response to the allegations against him, Evans submitted a Letter of Acceptance, Waiver and Consent.
As a registered securities broker, Evans had an obligation to act in the best interests of his clients and to adhere to all securities industry regulations.
If you lost money through the misconduct alleged against Evans, contact a securities fraud lawyer at Meyer Wilson. We help investors recover losses caused by fraud and misconduct, so contact us today for a free evaluation of your case.
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