Christopher Bennett, Formerly of Hilliard Lyons, Barred by FINRA After Failing to Provide Documents

Bennett has been the subject of fifteen customer disputes throughout his career.

The Sonn Law Group is investigating allegations that Christopher Bennett committed misconduct. If you or a family member has suffered losses investing, we want to discuss your case. Please contact us today for a free review of your case.

Christopher Bennett (CRD#: 2510231) was recently barred by FINRA after failing to provide information and documents requested by FINRA in connection with its investigation in response to an amended Form U5 filed by his former member firm that identified a customer complaint alleging that he had conducted trading in her account without her permission.

The findings stated that FINRA’s investigation of Bennett expanded to include additional claims by other customers alleging similar misconduct, as well as allegations of unsuitable recommendations.

Bennett has fifteen other disclosures on his BrokerCheck report.

July 2020 Customer Dispute

• Status: Pending
• Allegations: “Claim alleges breach of fiduciary duty, negligence and breach of contract related to $225,000 in investments made between 2015 – 2018.”

July 2019 Customer Dispute

• Status: Pending
• Allegations: The former clients allege losses in their accounts as the result of advisor’s recommendation of unsuitable investments. They further allege unauthorized trading, churning, fraud, as well as that Hilliard Lyons failed to properly supervise advisor.
• Damage Amount Requested: $65,000.00

May 2019 Customer Dispute

• Status: Pending
• Allegations: Claimants allege unsuitable investments, unauthorized selling and trading, and excessive trading in their accounts.
• Damage Amount Requested: $900,000.00

February 2019 Customer Dispute

• Status: Settled
• Allegations: Claimant alleges violation of the Securities Act of Kentucky, breach of fiduciary duty, and unsuitable investment recommendations.
• Damage Amount Requested: $139,214.00
• Settlement Amount: $67,000.00

February 2019 Regulatory Judgment

• Status: Final
• Initiated By: FINRA
• Allegations: Without admitting or denying the findings, Bennett consented to the sanctions and to the entry of findings that he exercised discretionary trading authority in the accounts of several customers, including a senior investor, without express or written authorization from the customers and without seeking or obtaining his member firm’s prior written acceptance of the accounts as discretionary.
• Resolution: Acceptance, Waiver & Consent (AWC)
• Sanctions: Civil and Administrative Penalty(ies)/Fine(s)
• Amount: $5,000.00
• Sanctions: Suspension
• Registration Capacities Affected: All Capacities
• Duration: 15 business days
• Start Date: 2/4/2019
• End Date: 2/25/2019

January 2019 Customer Dispute

• Status: Settled
• Allegations: Client alleges unauthorized trading, unsuitability, overconcentration, churning, and lack of diversification.
• Damage Amount Requested: $559,429.00
• Settlement Amount: $150,000.00

December 2018 Customer Dispute

• Status: Settled
• Allegations: Eric Parr who was granted power of attorney over his mother’s (Mary) account felt a holding in the account was an unsuitable investment.
• Damage Amount Requested: $20,000.00
• Settlement Amount: $15,000.00

November 2018 Customer Dispute

• Status: Pending
• Allegations: Client alleges unauthorized trading and suitability issues.

November 2018 Customer Dispute

• Status: Settled
• Allegations: Client expressed concerns over losses in securities, alleged the rep had conducted trading without her permission and that she was charged excessive commissions on those trades. Alleged activity period was 1/1/2014 to 11/20/2018.
• Settlement Amount: $15,000.00

June 2018 Customer Dispute

• Status: Settled
• Allegations: Former client alleges breach of fiduciary duty, violation of Kentucky’s Securities Act, common law fraud, breach of contract, restitution, negligence/negligent misrepresentation, omission, and negligent supervision related to the purchase of Breitburn Energy.
• Damage Amount Requested: $550,000.00
• Settlement Amount: $375,000.00

April 2018 Customer Dispute

• Status: Settled
• Allegations: Client, through her attorneys-in-fact, allege representative recommended the purchase of unsuitable securities in her accounts. Alleged activity 10/2013 – 12/2015
• Damage Amount Requested: $1,581,025.00
• Settlement Amount: $470,000.00

January 2018 Customer Dispute

• Status: Pending
• Allegations: Claimant alleges breach of fiduciary duty as well as the misrepresentation and suitability of of certain securities.
• Damage Amount Requested: $5,000,000.00

August 2017 Customer Dispute

• Status: Settled
• Allegations: Claimant alleges that registered representative failed to properly diversify and invested in products that exposed the client’s portfolio to significant risk. Alleged activity 2/2011 – 2/2016.
• Damage Amount Requested: $311,455.00
• Settlement Amount: $350,000.00
• Broker Comment: The registered representative and Hilliard Lyons vehemently deny the Claimant’s allegations and believe they are without merit.

July 2017 Customer Dispute

• Status: Settled
• Allegations: Claimants allege unauthorized trading and violation of suitability rules with regard to certain securities from 2014 through 2016.
• Damage Amount Requested: $330,713.07
• Settlement Amount: $90,000.00

July 2017 Customer Dispute

• Status: Pending
• Allegations: A representative for the client alleges breach of fiduciary duty,  unauthorized trading, violation of suitability rules and inadequate risk assessment.

December 2016 Customer Dispute

• Status: Award / Judgment
• Allegations: Client’s daughter/POA alleges the representative engaged in unauthorized trades that were not suitable. UPDATE–Alleged complaint evolved into arbitration which was received on 4/4/2017.
• Damage Amount Requested: $250,000.00
• Settlement Amount: $445,000.00

October 2016 Customer Dispute

• Status: Denied
• Allegations: Client alleges poor performance in their accounts.
  

Contact Us Today

The Sonn Law Group is currently investigating allegations that Christopher Bennett committed misconduct. We represent investors in claims against negligent brokers and brokerage firms. If you or your loved one experienced investment losses, we are here to help. For a free consultation, please call us now at 866-827-3202 or complete our contact form.