Articles Tagged with Xerxes Mullan

shutterstock_155045255-289x300The law offices of Gana Weinstein LLP are currently investigating claims that advisor Xerxes Mullan (Mullan) has been accused by The Financial Industry Regulatory Authority (FINRA) of engaging in undisclosed outside business activities (OBAs) and private securities transactions.  According to records kept by FINRA Mullan was employed by Purshe Kaplan Sterling Investments (Purshe Kaplan) through June 2019.  If you have been a victim of Mullan’s alleged misconduct our firm may be able to assist you in recovering funds.

According to FINRA, the regulator sanctioned Mullan after he consented to the sanction that he participated in private securities transactions involving approximately $6 million in total sales without his member firm’s knowledge or approval.  FINRA found that Mullan disclosed his role at a registered investment advisor to his firm but that Mullan did not provide prior written notice to the firm of his participation in the securities offerings. In addition, FINRA also found that Mullan falsely certified on the firm’s annual compliance questionnaires that he was not involved in any private securities transaction that had not been previously disclosed to the firm.

Mullan’s BrokerCheck also reveals several disclosed OBAs including Avestar Capital Partners, One motel condo, several rental properties, among other disclosures.

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