Stock Broker and Registered Representative Fraud and Misrepresentation FINRA Arbitration and Litigation Attorney, Russell L. Forkey, Esq.

March, 2012:

Tradespot Markets Inc. fka Beloyan Investment Securities, Inc. (CRD #29683, Davie, Florida) and Mark Bedros Beloyan (CRD #1392748, Registered Principal, Davie, Florida) were fined $13,500, jointly and severally. Beloyan was suspended from association with any FINRA member in any capacity for 10 business days. The National Adjudicatory Council (NAC) imposed the sanctions following appeal of an Office of Hearing Officers (OHO) decision. 

The sanctions were based on findings that Beloyan, acting on the firm’s behalf, drafted and distributed emails in which he recommended the purchase of securities, and those recommendations were unbalanced, misleading, included material misrepresentations and omitted material facts. The findings stated that Beloyan and the firm failed to review one of the companies’ current financial statements before recommending the purchase of its stock in emails. 

The suspension was in effect from February 27, 2012, through March 9, 2012. (FINRA Case #2005001988201).