Claimants file FINRA arbitration claim against National Securities
Two Florida retirees have filed a Financial Industry Regulatory Authority (FINRA) arbitration claim against National Securities Corp. They seek up to six figures in damages for the losses they sustained in GWG Holdings L bonds. The risky, illiquid junk bonds were allegedly recommended to them by former National Securities broker Marc Cline. He operated locally in Florida under the firm name CFG Capital, LLC (Cline Financial Group).
Cline, who’s no longer a registered representative, has fifteen customer disputes listed in his CRD. These were either settled or are still pending.