Financial Planner Kevin Smith Barred by FINRA, Uncertified by CFP After Allegations of Misconduct

Kevin P. Smith (CRD# 1363302) was a previously registered broker and investment advisor with Morgan Stanley in Minneapolis, Minnesota.

FINRA barred Mr. Smith from the finance industry after he failed to appear for on-the-record testimony during FINRA’s investigation into Mr. Smith’s termination from Morgan Stanley (Letter of Acceptance, Waiver and Consent No. 2016050705401).

According to FINRA, Mr. Smith was discharged from his firm following concerns related to his activities while acting as a trustee on a family member’s trust and related to a trade that he may have executed without getting confirmation from his client.

FINRA requested that Mr. Smith appear for on-the-record testimony during the investigation pursuant to FINRA Rule 8210. Mr. Smtih declined to do so, prompting FINRA to permanently bar him from association with any FINRA member.

In addition to FINRA’s sanctions, The Certified Financial Planner Board of Standards (CFP Board) revoked Mr. Smith’s certification as a financial planner.

The CFP Board filed a complaint against Mr. Smith regarding the FINRA action. Mr. Smith declined to file an answer, which counts as admitting the allegations under the CFP Board’s disciplinary rules.

The CFP Board issued an administrative order revoking Mr. Smith’s CFP certification effective as of March 11, 2019.

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