FINRA Enforcement Charges Mark Foster with Failure to Cooperate with Investigation

Attorney Advising Disclaimer

FINRA charged principal Mark Foster of Pasadena, California with repeatedly failing to cooperate with a FINRA investigation into his activities.

FINRA Case #2014039867601

According to the disciplinary proceeding, FINRA twice requested documents and information from Foster, who served as Registered Options Principal and General Securities Principal for Stern Fisher Edwards, Inc.

The findings state that in 2012, Foster left the firm with a Reason for Termination of "voluntary."

In 2014, Stern Fisher Edwards amended Foster's discharge, introducing a customer complaint alleging misappropriation of funds which occurred no later than in 2012, further writing that the firm settled the customer complaint for $625,000 and stating that "subject [Foster] was under internal review due to misconduct and was permitted to resign." Foster's reason for termination accordingly changed from "voluntary" to "permitted to resign."

If you have invested with Mark Foster, Stern Fisher Edwards or with any other broker or firm whose misappropriation or illicit conversion of funds has proven harmful to your investments or interests, please call The Law Offices of Jonathan W. Evans & Associates at (800) 699-1881 for investigation and consultation.

Related Posts
  • Stifel Nicolaus Facing Massive Controversy, $24.5 Million Damages Claims, Over Unsuitable Structured Product Sales Read More
  • LPL Financial's Gregory Collins Cited for Failing to Disclose Side Gigs, Including Hedge Fund Role Read More
  • Westpark Capital's Nicholas Tocco Sanctioned for AML Compliance, Supervisory Failures Read More