Kevin Hobbs Investigation
June 2023-Lake Worth, FL
According to publicly available records Kevin Hobbs a former broker who last worked for Primerica Financial Services (PFS Investments), discloses a final regulatory matter resulting in a permanent bar from the industry, prior customer disputes and a pending customer dispute.
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 3/2023 FINRA permanently barred Hobbs from the industry to resolve allegations that he provided an inaccurate response to FINRA’s request for documents and information in connection with its investigation of allegations that he traded away from his member firm in a customer’s third party brokerage account. Hobbs provided an inaccurate response that failed to identify at least one other individual whose account he had traded away from his firm. The findings stated that Hobbs participated in numerous private securities transactions without prior written disclosure to, or approval from, his firm.
In FINRA case #21-02436, a PFS Investments, Inc. customer alleged unsuitable investment recommendations. The case settled for $280,860 in 1/ 2023.
In currently pending FINRA case #23-00173, a PFS Investments, Inc. customer alleges unsuitable investment recommendations and is seeking damages of $500,000.
Hobbs was registered with Primerica Financial Services/PFS Investments, Inc. from 6/2000- 10/2022.
If you have suffered losses in an account handled by Kevin Hobbs, 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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