Securities Lawyers Blog
According to BrokerCheck records Kevin Curry (Curry) has been sanctioned by The Financial Industry Regulatory Authority (FINRA) over allegations that the broker exercised discretion in a customer’s account without obtaining written authorization or written approval of the account as discretionary from his brokerage firm. FINRA found that Curry and spoke to the customer and agreed upon investments but that Curry exercised time and price discretion in executing transactions on dates when he had not spoken with the customer in violation of the rules.
In addition, to the FINRA sanctions, two customers have lodged complaints against Curry alleging a number of securities law violations including that the broker made engaged in churning (excessive trading), unauthorized trading, and fraud among other claims.
In June 2014, a customer complaint was filed alleging churning, unauthorized trading, fraud, and failure to supervise claiming $400,000 in damages. The claim was settled.