Kevin and Sean Kane, Father-Son Advisory Team, Charged by SEC for Fraud

INVESTORS: Pennsylvania-based father and son financial advisors Kevin Kane and Sean Kane were charged by the SEC with fraud.

The SEC accused Pennsylvania-based father and son duo, Kevin and Sean Kane, with violating the antifraud provisions of Sections 206(1) and 206(2) of the Investment Advisers Act of 1940. The SEC alleged that both Kanes were terminated for cause from a dually-registered investment adviser and broker-dealer for multiple violations of the firm’s policies and procedures. Following their terminations, the SEC alleged that the pair falsely represented to clients that they left their former firm voluntarily in an effort to convince their clients to join them at a new firm. They also told certain clients they were still associated with their former firm and could still access client accounts.

The complaint stated that the Kanes impersonated certain clients in phone calls to their former firm in order to execute transactions in their clients’ accounts.

The Sonn Law Group is currently investigating allegations surrounding Kevin and Sean Kane.. 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.