August 2021- Boston, MA
According to publicly available records, former Merrill Lynch, Pierce, Fenner & Smith financial advisor Charles Kenahan, discloses 2 regulatory events, 4 final customer disputes, one pending customer dispute and a termination.
The Financial Industry Regulatory Authority (FINRA) is the agency that licenses and regulates stockbrokers and brokerage firms. FINRA requires brokers and brokerage firms to report customer complaints and disputes as well as regulatory sanctions. In addition brokers are required to disclose certain financial matters such as personal bankruptcies, judgments and liens.
IN 1/2021 FINRA permanently barred Kenahan from the industry to resolve allegations that he ceased cooperating with a FINRA investigation alleging sales practice violations. In 12/2020 the New Hampshire Department of State Bureau of Securities also barred Kenahan to resolve allegations that he traded without authority, msmarked sales tickets, made unsuitable recommendations to purchase ETFs and traded excessively.
In May of 2018, a customer of Merrill Lynch alleged excessive trading and unsuitable recommendations from 2012 until 2017. The case settled for $350,000.
In March of 2018, a customer of Merrill Lynch alleged unsuitable recommendations, excessive trading and misrepresentation from February 2012 until 2017. The case settled for $40,000,000.
In February 2018 a Merrill Lynch customer alleged unsuitable investments and unauthorized trading from December 2007 until February 2018. That case was settled for $24,250,000.
In July of 2019, Kenahan was discharged from Merrill Lynch after customer allegations of unauthorized trading, unsuitable investment recommendations and excessive trading.
Kenahan was employed by Merrill Lynch, Pierce, Fenner & Smith from December 2007 until July 2019. Before that he was with Morgan Stanley & Co.
If you have losses in an account handled by Charles Kenahan, call to learn how you may be able to recover damages through FINRA arbitration.
Rex Securities Law , with offices in Boca Raton, FL, and Austin, TX, provides representation to investors nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.
Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.
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