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Clifford Marks Resigned From a Former Employer Following Alleged Rule Violations

Clifford Marks

Public records published by the Financial Industry Regulatory Authority (FINRA) and accessed on December 23, 2017 indicate that former Alabama-based MML Investors Services broker Clifford Marks has received numerous resolved or pending customer disputes. Fitapelli Kurta is interested in hearing from investors who have complaints regarding Mr. Marks (CRD# 4639846).

Clifford Marks has spent five years in the securities industry and was most recently registered with MML Investors Services in Mobile, Alabama (2016-2017). He was previously registered with NYLife Securities in Mobile, Alabama (2011-2016). He has passed two securities industry examinations: Series 63 (Uniform Securities Agent State Law Examination), which he obtained on May 26, 2011, and Series 6 (Investment Company Products/Variable Contracts Representative Examination), which he obtained on May 20, 2011. He is currently not registered with any state or firm.

According to his BrokerCheck report, he has received six customer complaints and two pending customer complaints, and resigned from a former employer in connection to alleged rule violations.

In November 2017 a customer alleged Clifford Marks, while employed at NYLife Securities, took unauthorized loans against his insurance policy. The customer is seeking $15,000 in damages in the pending complaint.

In September 2017 a customer alleged Clifford Marks, while employed at NYLife Securities, “made him sign blank forms and then attempted to coordinate a 401k rollover” without the customer’s authorization or knowledge. The customer is seeking more than $79,000 in the pending complaint.

In June 2017 a customer alleged Clifford Marks, while employed at NYLife Securities, failed to clearly explain certain unsuitable investments. The complaint settled for more than $37,700.

In January 2017 a party of customers alleged he, while employed at NYLife Securities, opened accounts without their knowledge, transferred funds in an out of their personal account, and signed blank pieces of paper “to facilitate lowering their accounts which was never done.” The complaint settled in November 2017 for more than $78,500.

In 2016 a party of customers alleged he, while employed at NYLife Securities, provided misinformation and misdirection in the process of overselling him insurance products. The complaint settled for more than $8,400.

In 2016 a customer alleged he, while employed at NYLife Securities, opened policies and used information without his permission. The complaint settled for more than $51,900.

In August 2016 he voluntarily resigned from his position at NYLife Securities following allegations of “concerns regarding the quality of his business,” including alleged unsuitable and or unauthorized transactions.

If you have lost money investing with Clifford Marks, you may be eligible to recover your losses. Call Fitapelli Kurta at 877-238-4175 for a free consultation. All cases are taken on contingency: we only receive payment if and when you recover money. You might have a limited time to file your claim, so we recommend you avoid delay. Call 877-238-4175 now to speak to an attorney for free.

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