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Mark Raezer: FINRA Suspends Aurora Financial Advisor
A disciplinary action taken by the Financial Industry Regulatory Authority against former Aurora, Colorado broker Mark Raezer (CRD# 6439772) suspended him over allegations he engaged in unapproved private securities transactions. A former representative of Taylor Capital Management, Raezer was suspended for 10 months and issued a fine of $15,000.
According to a Letter of Acceptance, Waiver and Consent (No. 2018057075001) dated June 2019, Mark Raezer was registered with Taylor Capital Management from 2015 until 2018, when the firm disclosed that he had been permitted to resign after the firm received notice from the Colorado Division of Securities “that it was prepared to file charges against Raezer” for allegedly selling promissory notes without notifying the firm. When FINRA received this filing from the firm, it launched an investigation that found he engaged in “nine private securities transactions involving a total of approximately $911,000 in securities. FINRA’s findings state that another representative “took the lead in selling the securities,’ but he assisted that representative by engaging in such activities as helping investors complete paperwork and providing one investor with a sales brochure. FINRA states that he “did not receive direct compensation” from the private securities transactions, although he “indirectly benefited by reason of a profit sharing arrangement” in a business created by the individual who took the lead in the transactions. FINRA’s findings state additionally that all of the investors “were seniors at the time of the sales,” six were pre-existing firm customers, and “the investments were later alleged to have been part of a fraudulent scheme” whose founder allegedly directed investor funds toward personal expenses. Raezer allegedly did not notify his firm of his participation in the transactions or receive its approval, and FINRA states further that the investors who participated in the transactions “lost the value of their investments.” As a result of the foregoing alleged conduct, Mark Raezer was suspended from association with any FINRA member in any capacity for ten months. He was also ordered to pay a fine of $15,000.
Mark Raezer’s disclosure records also list two pending customer complaints against him. One 2018 complaint alleges that as a representative of TCM Securities, Mark Raezer misrepresented material facts, breached his fiduciary duty, and made unsuitable investment recommendations involving Madyson Capital Management; it alleges damages of $91,115.15. Another 2018 complaint alleges that as a representative of TCM Securities, he breached his fiduciary duty, acted negligently, committed fraud, misrepresented material facts, acted negligently, and violated Colorado securities law in connection to Madyson Capital Management LLC Limited Partnership units; the complaint alleges damages of $426,052.
Mark Raezer is currently not registered as a broker or investment advisor. His employment history includes Taylor Capital Management in Aurora, Colorado, where he was registered from 2015 until 2018. He currently holds zero state licenses and has passed two securities industry qualification examinations.