Mark Kaplan, formerly with Vanderbilt Securities, Barred from the Securities Industry
Have you lost money with financial advisor Mark Kaplan of Woodbury, New York? We are investigating allegations made by FINRA, the Financial Industry Regulatory Authority, against Mark Kaplan. FINRA barred Kaplan from the securities industry regarding allegations that he engaged in excessive trading or churning while he was associated with his former brokerage firm, Vanderbilt Securities. Kaplan was alleged to have churned the account of a 93 year old customer who lost over $700,000 because of Kaplan’s trading, while Kaplan earned $735,000 in commissions for himself.
Mark Kaplan was a financial advisor and registered representative of Vanderbilt Securities from March 2011 to February 2018. He worked at branch offices in Woodbury and Melville, New York. Mark Kaplan has been the subject of at least seven customer complaints, some of which allege unsuitable investments in Master Limited Partnerships (MLPs), REITs (real estate investment trusts), and stocks.
Brokerage firms like Vanderbilt Securities have a responsibility to adequately supervise all representatives who are registered through their firm. Brokerage firms also must take steps to ensure that their financial advisors follow all securities rules and regulations, as well as internal firm policies. When brokerage firms fail to adequately supervise their registered representatives, they may be liable for investment losses sustained by customers.
Israels & Neuman PLC is a securities and investment fraud law firm with offices in Denver, Colorado; and Seattle, Washington. We represent investors in FINRA arbitration proceedings in all 50 states, including investors throughout New York. Our attorneys have represented over one thousand investors against many brokerage firms in the past.
Click to view: Kaplan, Mark FINRA AWC
Click to view: Kaplan, Mark BrokerCheck 3.10.18
If you lost money with Mark Kaplan or Vanderbilt Securities, please CONTACT US at 720-599-3505 for a free evaluation of your case.
Israels & Neuman, PLC is a private law firm and is not affiliated with any government or law enforcement agency. Any investigation referenced in this blog is independent in nature and is being conducted by our law firm privately, not in conjunction with any government or law enforcement agency. All information contained in this blog should be deemed statements of opinion derived from the author’s review of public records, not statements of fact. This blog is advertising material and does not create an attorney client relationship, nor does it constitute legal advice. Everyone’s situation is different and the question of whether or not you have a claim will vary on a case-by-case basis. In contingent representation, clients may still be liable for costs.