Publicly available records provided by the Financial Industry Regulatory Authority (FINRA) indicate that broker/advisor, Mark Sullivan (CRD # 2531982) was recently suspended from the securities industry by FINRA’s Department of Enforcement after an investigation into unauthorized discretion.
The Law Office of Kevin J. Deloatch, Esq. is interested in speaking to investors who have complaints regarding Mr. Sullivan.
Registration Background for Mark Sullivan
Mr. Sullivan first became registered in the securities industry in 1994. He was most recently registered with New York, NY based broker-dealer UBS Financial Services, Inc. (CRD # 8174) from November 2015 to August 2024. He was previously registered with Credit Suisse Securities LLC (CRD # 816) from September 2008 to December 2015, and Lehman Brothers Inc. (CRD # 7506) from October 1997 to September 2008.
FINRA’s Allegations Against Mark Sullivan
According to the FINRA Letter of Acceptance, Waiver and Consent (AWC) dated August 6, 2026 (No. 2024083156201), Mr. Sullivan consented to, without either admitting to or denying, the following findings by FINRA’s Department of Enforcement:
- “Between January 2021 and June 2024, [Mr.] Sullivan exercised discretion without prior written authorization in connection with 581 transactions in accounts held by two customers”;
- “During that period [Mr.] Sullivan mismarked the 581 discretionary trades as unsolicited”;
- “Although the customers permitted [Mr.] Sullivan to exercise discretion, he did not have their written authorization to do so, and UBS did not accept the accounts as discretionary”; and
- By virtue of his actions, Mr. Sullivan violated FINRA Rule 3260 regarding discretionary accounts, FINRA Rule 4510 regarding books and records, and FINRA Rule 2010 regarding standards of commercial honor and principles of trade.
FINRA Sanctions Mark Sullivan from Securities Industry
As a result of such violations and in addition to the above-described findings and conclusions, FINRA’s August 6, 2026 AWC also indicates that Mr. Sullivan consented to the following sanction(s):
- a three-month suspension from association with any FINRA member in all capacities; and
- a fine in the amount of $10,000.00; and
Mark Sullivan Has a Prior History of Securities Industry Customer Complaints
In addition to Mr. Sullivan being suspended by FINRA from the securities industry regarding various sales practice violations, FINRA BrokerCheck for Mr. Sullivan reveals that he has a history of customer complaints and/or customer-initiated arbitrations, including but not necessarily limited to the following:
- On August 14, 2024, a customer initiated an oral complaint against Mr. Sullivan regarding alleged actions that occurred while he was associated with UBS Financial Services Inc. The customer alleged that based on his age, the securities recommended were unsuitable. The customer further alleged he sustained damages in excess of $5,000.00. On October 18, 2024 the complaint was settled in the amount of $96,565.83.
Have You Lost Money with Mark Sullivan?
If you or someone you know has or had a brokerage account with Mr. Mark Sullivan and have concerns regarding losses in your investments or possible sales practice violations including fraud or negligence, you may be entitled to recover lost funds. The Law Office of Kevin J. Deloatch, Esq. has an extensive securities law practice and over 30 years of experience on Wall Street. Call today at (646) 792-2156 for a free consultation. The time to file your claim may be limited so you should call today to avoid delay.
