Beasley was previously suspended for 7 months by FINRA.
Marcus Angelo Beasley (CRD#:3157595) was registered as a broker with Supreme Alliance LLC from September 2019 until October 2019. Previously, Beasley was registered as a broker with W&S Brokerage Services from 2018 until 2019.
Beasley has three disclosures on his BrokerCheck report.
May 2021 Regulatory Judgment
- Initiated By: Maryland
- Allegations: Beasley offered unregistered securities in violation of section 11-501 of the Securities Act, violated section 11-301(2) and (3) of the Securities Act by, among other things, falsely representing to potential BFG investors that they already had 25 partners when in fact they had none, failing to disclose to potential BFG investors that the equity offering was not registered with the Division, exempted from the registration requirements, or notice filed with the Division, and failing to disclose to potential BFG investors the risks associated with investing in BFG’s equity offering; violated sections 11-302(a)(2) and (a)(3) and (c) of the Securities Act by failing to disclose to potential clients that BFG was not registered as an investment adviser and Beasley was not registered as an investment adviser representative for BFG; transacted business as an unregistered broker-dealer or agent, in violation of section 11-401(a) of the Securities Act; acted as an unregistered investment adviser or investment adviser representative, in violation of section 11-401(b) of the Securities Act; engaged in dishonest and unethical practices in the securities or investment advisory business by, among other things, failing to obtain the approval of his broker-dealer to sell an investment product not approved by the broker-dealer, engaging in unapproved outside business activities and private securities transactions not approved by his broker-dealers and failing to amend his Form U4 to disclose the activities, offering unregistered securities to investors, and making false representations or failing to disclose material facts to investors solicited by him, in violation of section 11-306 of the Securities Act; and failed to amend his Form U4 to disclose his outside business activities conducted through BFG and his involvement in soliciting investors to invest in BFG, in violation of section 11-411(d) of the Securities Act. Beasley was suspended by FINRA from association with any FINRA member in all capacities for a period of seven months, and grounds exist under section 11-412(a)(6) of the Securities Act to revoke Respondent Beasley’s agent and investment adviser representative registrations.
- Resolution: Order
- Sanctions: Bar
- Registration Capacities Affected: Broker-Dealer, Agent
- Start Date: 6/17/2021
- Sanctions: Civil and Administrative Penalty(ies)/Fine(s)
- Amount: $35,000.00
- Sanctions: Revocation
October 2020 Regulatory Judgment
- Initiated By: FINRA
- Allegations: Without admitting or denying the findings, Beasley consented to the sanctions and to the entry of findings that he engaged in outside business activities without providing prior written notice to his member firms. The findings stated that Beasley incorporated a limited liability company and served as its chief executive officer. The incorporation documents for the company stated that its purpose was to market financial services products to groups, associations, clubs, organizations, companies, families and individuals. Beasley personally invested $40,000 in the company and attempted to establish it, through its website, as a financial services marketplace to provide financial counseling services and to connect subscribers with other financial services. In exchange, the company hoped to earn periodic subscriber fees. The company also used its website and other means to try to obtain partners and/or investors. The company was not able to obtain subscribers or investors. Beasley also incorporated a holding company whose stated purpose was to hold and trade assets of the limited liability company. Beasley falsely attested to a firm in written certifications that he was not engaging in any outside business activities. Beasley also engaged in outside business activities in connection with a ministry in which he served as the lead organizer and administrator. The ministry’s activities included speaking engagements to church audiences regarding financial investment subjects for which Beasley occasionally received fees as well as the marketing and sale of a financial services book he had written, for which he also occasionally received fees. Beasley did not disclose this business to any of his firms until he disclosed it to one of the firms in April 2019. The findings also stated that Beasley made a false statement to potential investors and subscribers in the limited liability company. While the company was soliciting potential partners and investors, Beasley stated on its website that, based on industry standards and company projections, the average annual gross income for partners in the company is projected to be anywhere between $500 and $2,000. This statement was false and misleading in that the company did not have any partners who generated any revenue at any time through the company and there was no factual basis for this income projection. The findings also included that Beasley violated FINRA’s content standards for communications with the public. Beasley established and maintained the company website and published that the company was a brokerage, financial advisory and consulting firm. Since the company was not a broker-dealer, Beasley’s claim was false and misleading. Beasley solicited investors on an outside social media website to invest $250,000 in the company in exchange for a 20 percent equity stake in the company. The solicitation was unclear about what type of transaction was being offered, or how it was structured, and therefore failed to provide a sound basis for evaluating the investment and omitted significant, material information, causing the communication to be misleading. The solicitation further did not properly identify or disclose the potential risks and investment considerations of the proposed investment. At no time thereafter did Beasley provide any additional information to potential investors about his investment proposal. In the same solicitation, Beasley stated that the company had 25 partners across multiple states. This statement was false and misleading because the company did not have any partners.
- Resolution: Acceptance, Waiver & Consent (AWC)
- Sanctions: Bar
- Sanctions: Civil and Administrative Penalty(ies)/Fine(s)
- Amount: $12,500.00
- Sanctions: Suspension
- Registration Capacities Affected: All Capacities
- Duration: Seven months
- Start Date: 10/19/2020
- End Date: 5/18/2021
July 2019 Employment Separation After Allegations
- Firm Name: W&S Brokerage Services, Inc.
- Termination Type: Discharged
- Allegations: Terminated for (i) failing to disclose and receive approval prior to engaging in an outside business activity; (ii) solicitation of capital related to undisclosed outside business activity; (iii) lacking candor during investigation into this activity; and (iv) violating firm policies regarding outside business activities and private securities transactions.
- Broker Comment: In 2016, I was asked to develop a digital financial ecosystem for the African American community. According to the Guardian, minority net worth will be 0 in 20 years because of the digital economy. I communicated this to W&S. The ecosystem was founded to sell to non profits and/or for profit business. Ii I did not raise any monies for the ecosystem. My wife and I separated in November 2018. I got payday loans and loans on my car with OneMain financial. No capital raised for digital ecosystem. Iii Lacking candor is a biased determination on the part of W&S. I did not share what I was doing with any employee, customers, did not involve any securities transactions or selling away in any fashion. iv: The ecosystem is a prototype and not a business receiving income of functioning. I also joined Black Wall Street, a national non profit organization promoting black entrepreneurship in the digital realm.
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