May 12, 2021
FINRA AWC
Former general securities representative Chad Mackland recently consented to a bar from associating with FINRA member firms in all capacities for failing to provide documents and information pursuant to FINRA Rule 8210. Mackland was associated with Lion Street Financial in Council Bluff, Iowa.
According to the Letter of Acceptance, Waiver, and Consent (AWC), Mackland failed to provide documents and information in connection with criminal charges pending against him, including alleged theft and fraudulent sales practices. The alleged misconduct occurred when he was associated with MML Investors Services in Omaha, Nebraska from March 2017 to September 2018.
Chad Mackland consented to a bar from associating from any FINRA members in all capacities. Mackland’s FINRA BrokerCheck report reveals a FINRA Dispute Resolution Arbitration filed in April 2020. The customer alleges that Mackland churned their accounts, made fraudulent, false, and misleading representations, communications, and transactions, recommended unsuitable transactions, and breached fiduciary duty. The customer is requesting nearly $2.9 million in damages.
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