Mark E. Czuchry, Esq., (zook ree) is a former stockbroker with an NYSE firm, former financial services sales manager and recruiter with a Fortune 150 company, and a former Vice President, Chief Compliance Officer and corporate counsel for a Bloomington, MN boutique broker-dealer & registered investment adviser. Mark formerly served as CCO of several Minnesota State Investment Advisers as well as CCO of an SEC Registered Investment Adviser; Mark has presided over on-site regulatory examinations, performed heightened supervision with monthly reports to the regulator, and consulted RIAs on all legal and regulatory matters. Mark represents insurance agents, financial advisers and brokers in all matters.
Firm matters: drafting rep’s response to broker dealer concerning customer complaints–often resulting in BD denying claims and in some cases, not reporting the complaint on the firm’s 3070 report or RR’s Form U-4–drafting of outside business activities, and responding to firm discipline including internal investigations and heightened supervision. When things do not work out, Mark also represents financial professionals through the termination process including negotiating Form U-5 disclosure language (if applicable), addressing non-compete and non-solicitation matters, and defending against or negotiating a reduction in outstanding amounts owed on forgivable notes.
Regulatory matters: Mark represents financial professionals when they face inquiry, investigation and enforcement matters involving the department of commerce and securities, FINRA and the SEC, which typically comprises representation during On The Record interviews and testimony. Mark has been successful in persuading FINRA and departments of commerce, insurance and securities to either issue no action letters, cautionary letters or in many cases, to close their inquiries without recommending or taking formal enforcement action. For those matters regulators consider more egregious that result in the SEC or FINRA issuing a Wells Notice, Mark uses his industry experience and knowledge to pursue an appropriate resolution: letter of censure, consent order, FINRA Acceptance Waiver and Consent (“AWC”), SEC settlements comprising a consent, judgment, injunction and administrative order. Mark defends advisors, agents and reps against civil allegations, claims or counts of misconduct and sales practice violations including breach of fiduciary duty, misrepresentation, failure to supervise, unauthorized trading, excessive trading, unsuitability, common law fraud, statutory fraud including Section 10(b) of the 1934 Exchange Act, Rule 10b-5 and the 1940 Advisers Act, Section 206, paperwork and signature irregularities, insider trading and market manipulation, etc. In addition, for possible White Collar criminal matters, Mark has been successful in persuading the United States Attorneys’ Office to not issue an indictment or information after a proffer session conducted by USAO, FBI and IRS agents.
Whether terminated or permitted to resign, Mark helps brokers and advisers find new broker dealer or investment adviser homes by drafting explanations for DRP and other disclosures on Forms U-4 and U-5, Form ADV, ADV II brochure, and the individual adviser’s ADV II.B brochure. Mark also addresses collateral consequences and disclosures to state regulators for license renewal, insurance carrier appointments and E&O policy coverage or renewal. In so doing, Mark has successfully persuaded several firms to adopt his language of disclosure for reporting and in some cases, not reporting the event at all when his interpretation of disclosure rules and requirements would not mandate disclosure.
Mark represents individual consumers in investment loss matters, estate planning, corporate and business, insurance, investments and securities law. Mark also serves as corporate counsel for small businesses, representing them in matters involving employment (unemployment), commercial leasing, creditor protection, litigation and sale of business.
Mark formerly held the following investment industry securities registrations:
FINRA Series 4: Options Principal
FINRA Series 7: General Securities Representative
FINRA Series 9/10: NYSE Branch Office Manager, all product lines
FINRA Series 24: General Securities Principal
FINRA Series 53: Municipal Securities Principal
FINRA Series 63: Uniform Securities Agent State Law Exam
FINRA Series 65: NASAA-Investment Advisors Law Exam
Mark has been licensed to act as an IAR or CCO for a Registered Investment Adviser.
Mark formerly held a Minnesota State Insurance License for the following lines: life, accident & health, property, casualty, and variable.
Mark has more than 20 years of experience working with over 700 insurance agents and financial professionals on over 4,700 client cases on all issues relating to financial and estate planning, client relationship management and insurance and securities compliance (Securities and Exchange Commission/SEC & Financial Industry Regulatory Authority/FINRA – formerly National Association of Securities Dealers/NASD). Mark has reviewed and approved tens of thousands of securities and insurance transactions for suitability and fiduciary standards as an Office of Supervisory Jurisdiction/OSJ principal or chief compliance officer. In these roles, he resolved multiple customer complaints always to the satisfaction of both parties, never once resulting in a formal complaint to FINRA or a filed arbitration or litigation. Mark has presented Firm Element training for several broker-dealers on the topics of best practices and more specifically, suitability, account titling and beneficiary designations.
Mark is a member of the Public Investors Arbitration Bar Association (“PIABA”), a nationwide “think-tank” organization of over 500-member attorneys committed to providing the most comprehensive and competent representation available to private investors in pursuing recovery for investment losses in FINRA Arbitrations or in court. Member attorneys collaborate through advisory boards, listservs, continuing education and co-counsel opportunities, so when coupled with Mark’s expertise working on the inside of both broker-dealers and registered investment advisers, Mark has been successful in recovering in excess of 100% of a clients’ losses.
Mark also represents registered representatives in FINRA, SEC and Minnesota Department of Commerce disciplinary and enforcement matters, and in matters against an RR’s or Investment Adviser Representative’s firm or former firms.
Mark is a member of the American Bar Association/ABA (Business and Litigation Sections), Minnesota State Bar Association/MSBA (Probate and Trust, Litigation, and Business Law Sections), and Wealth Counsel, a national professional organization of estate planning and trust attorneys dedicated to advising clients on all matters related to incapacity and protecting and transferring their assets.
In addition, Mark has presented to the National Multiple Sclerosis Society, NAMI, Carver County, MN Foundation on matters concerning financial, estate & tax planning, including the difficult topics of Medical Assistance eligibility and recovery, debt management and if necessary, bankruptcy.
Mark has also presented to NAIFA for Insurance CE credit on the topics of medical assistance and beneficiary designations.
Mark earned his Juris Doctor, cum laude, in 1999 from the University of Minnesota Law School. Mark was named to the 1999 Who’s Who Among American Law Students, was a best brief finalist and overall winner of the law School’s prestigious Maynard Pirsig Moot Court Competition, and was chosen as one of only five students to represent the University of Minnesota Law School in the nationwide ABA Moot Court Competition. Mark earned his Bachelor of Science, summa cum laude, in 1995 from Northwestern College in Roseville, Minnesota, graduating in four years, 5th in his class of 240 with a 3.96 GPA, all while working full time in production management at Fortune 200 Seagate Technology. Mark earned majors in both social science and Bible, and earned a 4.0 GPA while studying renaissance and reformation history at Oxford University, Keble College in the summer of 1994.
Mark was listed in The Legal Network for 2013, 2014, 2015 and 2016 as among the top lawyers in Minnesota for highest in ethical standards and professional excellence based on client ratings, which can be referenced below:
http://www.martindale.com/Mark-Eric-Czuchry-Esq/742722-lawyer.htm
http://www.martindale.com/Czuchry-Law-Firm-LLC/45361703-law-firm-office.htm?view=cr
Mark has earned an AVVO rating of 8.7 (excellent). You can read client reviews and peer endorsements here: http://www.avvo.com/attorneys/55386-mn-mark-czuchry-1641555.html
Mark was a Five Star Wealth Manager, Estate Planning, 2015 & 2016.
Czuchry Law Firm, LLC currently enjoys an A+ rating with the Better Business Bureau. http://www.bbb.org/minnesota/business-reviews/attorneys-and-lawyers-insurance-law/czuchry-law-firmllc-in-victoria-mn-96384983
Mark has been published four times in popular media, most notably in an article titled “Preemptive reporting,” proposing tighter restrictions on insider trading, published in the Sunday, May 18, 2003 Minneapolis Star Tribune, Business Forum.