Kenneth Byrne Investigation
May 2023-Garden City, NY
According to publicly available records Kenneth Byrne a former broker who last worked for Janney Montgomery Scott, discloses a final regulatory matter resulting in a permanent bar from the industry and the settlement of a customer suit.
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 1/2023 without admitting or denying the findings, Byrne consented to the sanction and to the entry of findings that he refused to appear for the on-the-record testimony requested by FINRA in connection with its investigation into the suitability of certain trades recommended by him. As a result of these findings, Byrne was permanently barred from FINRA in all capacities.
In 4/2018, a Janney Montgomery Scott customer alleged that unsuitable investments were made in her accounts by Byrne. The case was settled for $175,000.
Byrne was with Janney Montgomery Scottfrom 1/2003 until 7/2021. Before that time he was with Monarch Financial Corporation.
If you have suffered losses in an account handled by Kenneth Byrne, contact us for a no charge consultation 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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