Mark Post Allegedly Engaged in Unapproved Outside Business
Mark Post (CRD# 6510445), an investment adviser registered with Zero Day Capital, participated in unapproved outside business activities, according to allegations by a former member firm. MDF Law is investigating the Yukon, Oklahoma financial professional for similar conduct. To discuss concerns about your accounts, call us today for a free consultation.
More information about the allegations against the former Empirikal Partners representative follows below. This post is sourced from his BrokerCheck record, a Financial Industry Regulatory Authority (FINRA) resource accessed on September 5, 2024.
Termination From Empirikal Partners
Empirikal Partners fired Mark Post in July 2024, according to a disclosure on his BrokerCheck profile. The firm terminated his registration over allegations that he participated in “unapproved outside business activities,” the disclosure explains.
Understanding FINRA’s Outside Business Activity Rule
FINRA rules make clear that brokers like Mark Post may not participate in outside business activities unless they comply with certain conditions. The most relevant rule governing outside business activities is FINRA Rule 3270, which forbids involvement in business activities beyond the scope of one’s relationship with their member firm, “unless he or she has provided prior written notice to the member, in such form as specified by the member.” Representatives who engage in unapproved outside business activities may be subject to disciplinary action by FINRA, the SEC, or state regulatory authorities.
FINRA Sanctioned Post over Forgery Allegations
FINRA filed a disciplinary action against Mr. Post in 2021, according to a disclosure on his BrokerCheck record. The action stemmed from allegations that he “forged customer signatures on transaction documents without the customers’ authorization.” The documents in question included a fixed index annuity application and an individual retirement account transfer request form. As FINRA alleged, Mr. Post “caused his firm to maintain inaccurate books and records by forging the transfer of assets form and falsifying the IRA transfer request form.” The regulator suspended him from registering with any member firm in any capacity for two months. It also ordered him to pay a fine of $5,000.
Why Did Post Resign from Waddell & Reed?
Mr. Post voluntarily resigned from Waddell & Reed in 2020, according to a disclosure on his BrokerCheck record. The disclosure specifies that he submitted his resignation “after he admitted to signing client names to documents.”
FINRA: Post Based in Yukon, Oklahoma
Mark Post launched his career as a broker in 2016, when he registered with Waddell & Reed. He remained at the firm’s Edmond, Oklahoma office until his resignation in 2020. That same year, he joined Empirikal Partners in Casa Grande, Arizona, and Zero Day Capital Enterprises in Yukon, Oklahoma. Though he departed Empirikal in July 2024, he remains registered as an investment adviser with Zero Day Capital.
Investment Concerns? Call MDF Law for a Free Consultation
Are you a current or former Mark Post client with concerns about your portfolio? You may have grounds to file a FINRA arbitration proceeding to pursue lost funds. MDF Law’s attorneys have lengthy experience advocating for investors, securing more than $100 million in recoveries. Our clients only pay a fee if they win their case, and we offer free consultations across the US. Call 800-767-8040 to chat with an attorney today.