According to FINRA, Mark W. Manning (CRD #2599852) of Salt Point, New York, was barred from the securities industry in all capacities on March 26, 2024. The bar resulted from Manning's refusal to provide documents and information requested by FINRA during an investigation in Case #2023079710301. The investigation was initiated following a Form U5 filing that disclosed Manning had been discharged by his member firm for accepting beneficiary and power of attorney (POA) designations from a client and for acting as the client's power of attorney without obtaining the required approval from his firm. Accepting beneficiary designations and power of attorney authority from clients is a practice that creates severe conflicts of interest and is prohibited or strictly regulated by virtually all broker-dealer firms. When a financial professional is named as a beneficiary of a client's account or is granted power of attorney over a client's financial affairs, the professional's personal financial interests become directly intertwined with the client's accounts, creating an inherent conflict that can lead to exploitation or abuse. Most firms require prior written approval before a registered representative may accept any such designation, and many firms prohibit the practice entirely except in cases involving immediate family members. FINRA Rule 3241 specifically addresses the holding of customer accounts by registered persons and imposes requirements for disclosure and firm approval. Manning's failure to obtain firm approval for these designations suggests that the arrangements may not have been subject to the compliance oversight that would normally apply, potentially leaving the affected customer vulnerable to financial harm. Manning's refusal to cooperate with FINRA's investigation by providing requested documents and information constituted a violation of FINRA Rules 8210 and 2010, resulting in the imposition of a bar in all capacities. Investors should be cautious about granting power of attorney or naming their financial advisor as a beneficiary on any account. These arrangements should always involve independent legal counsel and should be disclosed to and approved by the broker's firm to ensure proper oversight.