Mary Beslagic Suspended by FINRA for Alleged Reg-BI Violation

Mary Beslagic (CRD #: 5966835), a broker formerly registered with Edward Jones, has been suspended by FINRA, according to her BrokerCheck record, accessed on January 5, 2025. Read on to learn more about her alleged conduct as a broker.

FINRA Suspension

On December 12, 2024, Mary Beslagic consented to the entry of findings that she allegedly recommended an investment strategy that was not in the best interest of two married clients.

According to a Letter of Acceptance, Waiver & Consent (AWC), the clients allegedly took out a home equity loan of $220,000 in order to purchase a home for a family member and renovate their own home.

Mary Beslagic was allegedly aware of these plans, but recommended that they invest this money in mutual funds that primarily targeted long-term growth and came with risk of short-term loss.

The clients’ investments in these mutual funds allegedly declined soon after purchase and they sold a portion of these investments at a loss. They allegedly also took out margin loans of approximately $25,000 in total to cover their short-term liquidity needs.

The AWC alleged that Mary Beslagic violated Regulation Best Interest and FINRA Rule 2010.

Regulation Best Interest

Regulation Best Interest (Reg-BI) is an SEC regulation that requires brokerage firms to put their clients’ best interests first. For example, firms must conduct reasonable due diligence when researching investments to ensure their recommendations are suitable for the investor.

FINRA Rule 2010

FINRA Rule 2010 holds brokers to high standards of commercial honor and just and equitable principles of trade.

Sanctions

Mary Beslagic consented to the following sanctions:

• Two-month suspension from associating with FINRA members
• $5,000 fine

Her suspension began on December 16, 2024, and will end on February 15, 2025. You can access the AWC here.

Termination from Edward Jones

On August 3, 2023, Mary Beslagic was fired from Edward Jones following allegations that she recommended two clients use their home equity line proceeds to invest.

Background Information

Mary Beslagic has passed the following exams:

• Securities Industry Essentials Examination – SIE
• General Securities Representative Examination – Series 7
• Uniform Combined State Law Examination – Series 66

She previously worked for Edward Jones (CRD#:250).

Kurta Law Can Help

If you worked with Mary Beslagic and you have concerns about your investments, please contact us today at 877-600-0098 or info@kurtalawfirm.com for a free consultation.

For over 20 years, Kurta Law has advocated on behalf of investors who want to recover their investment losses from brokers and brokerage firms. Kurta Law is a nationally recognized law firm that exclusively represents investors against brokers and brokerage firms on a contingency basis. This means that the firm only earns a fee if our securities attorneys recover money on your behalf.