Broker Investigation: Kevin Smith

Broker Investigation: Kevin P. Smith
Kevin P. Smith (CRD#: 1363302) is a former broker and registered investment advisor (RIA). From 2009 to 2016, Mr. Smith was employed as a broker at Morgan Stanley in Minneapolis, Minnesota. Previously, this individual was also associated with UBS Financial Services and Piper Jaffray.

In October of 2016, Morgan Stanley terminated broker Kevin Smith after allegations arose that he made unauthorized trades within a trust owned by a family member. Soon after receiving word of the discharge, FINRA launched its own investigation into the professional conduct of Mr. Smith.

Barred Financial Advisor: Former Morgan Stanley Broker Kevin Smith

On October 8th, 2018, the Financial Industry Regulatory Authority (FINRA) barred former Morgan Stanley broker Kevin P. Smith for his failure to cooperate with an official investigation into allegations of wrongdoing. FINRA requested on-the-record testimony from Mr. Smith in regards to the allegations that he executed trades without the proper authority on a family-related trust while employed at Morgan Stanley in Minneapolis, MN.

Under FINRA Rule 8210, brokers and financial advisors must cooperate with investigators, including providing relevant financial documents and offering on-the-record testimony when requested. If a broker knowingly refuses to cooperate with investigators, they will be suspended from the industry.

Without admitting or denying misconduct, Mr. Smith consented to the penalties.

Speak to an Investment Fraud Lawyer Now

At Sonn Law Group, we fight aggressively to protect investors nationwide. If you or your loved one suffered investment losses due to unauthorized transactions or unauthorized trades, we can help. To arrange a confidential, complimentary consultation, please call our law office today.

Disclaimer: This article contains opinions and NOT statements of fact in any way whatsoever. The information here is general information that should not be taken as legal advice. NO attorney-client relationship is established between you and our attorneys by reading this article. This article is attorney advertising and should not be used as a substitute for legal advice from a qualified securities lawyer.

Sonn Law Group is investigating claims regarding Joel Eziekel Blum (CRD #4905379, Goshen, New York). Blum recently submitted an AWC in which he was fined $10,000 and suspended from association with any FINRA member in any capacity for 20 days. See FINRA Case #2014040186601. Blum was associated with Merrill Lynch from May 2008 until his termination in February 2014. Blum has been associated with Ameriprise Financial Services, Inc., since February 2014. The Form U-5 filed by Merrill Lynch to terminate Blum's registration states that he was discharged for "conduct including failure to contact clients in advance of entering orders in non-discretionary accounts and mismarking order tickets as unsolicited." FINRA found that Blum executed discretionary transactions in customer accounts without written authorization to do so. In addition, Blum mismarked order tickets in connection with these transactions, inaccurately indicating that the trades were unsolicited, according to FINRA. In entering into the AWC, Blum neither admitted or denied FINRA's findings. Pursuant to FINRA Rules, member firms are responsible for supervising a broker's activities during the time the broker is registered with the firm. Therefore, Ameriprise or Merrill Lynch may be liable for investment or other losses suffered by Blum's customers. If you were a client of Ameriprise, Merrill Lynch, or Blum, and have suffered investment losses or financial irregularities, please contact Sonn Law Group to explore your legal options. Sonn Law Group is a nationally recognized law firm representing individuals, trusts, corporations and institutions in claims against brokerage firms, banks and insurance companies. To learn more, please call us at 844-689-5754 or complete our "contact form."
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