February 7, 2018
The Financial Industry Regulatory Authority (FINRA) Department of Enforcement recently approved a Letter of Acceptance, Waiver and Consent (AWC) submitted by Mark Solomon, a former general securities representative associated with M Holdings Securities, Inc. (M Holdings) in Wynnewood, Pennsylvania from November 2013 to January 2016.
According to his FINRA BrokerCheck report, Solomon voluntarily resigned from M Holdings after the firm began an internal review centered on potential violations of investment related statues and M Holdings policies and procedures.
FINRA claimed in the AWC that Solomon, on behalf of a commercial real estate limited partnership, solicited seven investors to purchase a total of $1,400,000 in interests in a private placement without providing his firm written notice or seeking approval from the firm. Based on the foregoing, Solomon violated NASD Rule 3040 and FINRA Rule 2010.
By signing the AWC, Solomon agreed, without admitting or denying the allegations made against him by FINRA, to a twelve-month suspension from association with any FINRA member in any capacity and a deferred fine of $15,000.