Mark Smith, Formerly of Transamerica Financial Advisors, Barred by FINRA Following Refusal to Appear for Testimony

INVESTORS: Former Transamerica Financial Advisors broker Mark Smith was barred by FINRA following refusal to appear for testimony in connection with investigation.

Mark Smith (CRD: 5776360) was registered as a broker with Transamerica Financial Advisors from 2012 until 2021. Previously, Smith was registered as a broker with World Group Securities from 2011 until 2012.

Smith has five disclosures on his BrokerCheck report. Two customer disputes filed against Smith were closed with no action taken. 

March 2022 Customer Dispute

Status: Pending

Allegations: Claimants allege that representative approached her them about the potential to invest in a crypto deal. Claimants invested $77000 and was supposed to receive her funds back from rep by Feb 22, 2021. Claimants have only been able to retrieve $5,000 of their funds back from the representative.

Damage Amount Requested: $72,000.00


January 2022 Regulatory Judgment

Initiated By: FINRA

Allegations: Without admitting or denying the findings, Smith consented to the sanction and to the entry of findings that he refused to appear for on-the-record testimony requested by FINRA in connection with its investigation that originated from an amended Form U5 filing submitted by his former member firm. The findings stated that the firm submitted the Form U5 disclosing that it received information of Smith’s possible involvement in an unauthorized transaction in a client’s personal checking account. Although Smith initially cooperated with FINRA’s investigation, he ceased doing so.

Resolution: Acceptance, Waiver & Consent (AWC)

Bar: Bar (Permanent)

Registration Capacities Affected: All Capacities

Duration: Indefinite

Start Date: 1/26/2022


July 2021 Employment Separation After Allegations

Firm Name: Transamerica Financial Advisors, Inc.

Termination Type: Voluntary Resignation

Allegations: Firm received information of representative’s possible involvement in an unauthorized transaction in a client’s personal checking account.


If you have any information about Mark Smith that you would like to share or discuss, please call our firm for a confidential consultation. We represent investors in claims against negligent brokers and brokerage firms. If you or your loved one experienced investment losses, we are here to help. For a free consultation, please call us now at 866-827-3202 or complete our contact form.

CONTACT US FOR A FREE CONSULTATION

Se Habla Español

Contact our office today to discuss your case. You can reach us by phone at 844-689-5754 or via e-mail. To send us an e-mail, simply complete and submit the online form below.