May 2020- St. Augustine, FL
The FINRA records of Gabriel (Gabe) William Hynes, a broker previously employed by Kestra Investment Services , disclose two regulatory events, one resulting in his bar from the securities industry , two customer disputes and two terminations from employment.
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 January 2020, Hynes was permanently barred from the securities industry by the Securities and Exchange Commission after allegations that he refused to appear for on-the-record testimony as requested by FINRA in connection with an investigations of his sale of Future Income Payments, LLC’s (FIP) structured cash flow investments.
In August 2017, in FINRA case 2016051410501 Hynes consented to sanctions and to the entry of findings that he purchased securities issued by privately held companies costing a total of $90,000. These transactions were outside the course and scope of his employment with his member firm. Hynes was suspended from FINRA for three months and was fined $10,000.
In July of 2018 FINRA case 18-02386 was filed by a customer of Hynes previous employer, NYLife Securities alleging that he misrepresented Future Income Payments (FIP) as a safe investment which would provide monthly payouts of 8% on a “guaranteed basis”. The case was settled for $1,425,000.
In February 2001 an A.G. Edwards customer was paid $9,000 to resolve allegations that Hynes authorized sales in order to place him in funds that were risky.
In May 2017, Eagle Strategies and NYLife Securities permitted Hynes to resign after the company became aware he violated company policy by failing to disclose (a) multiple outside business activities and private securities transactions, (b) brokerage account with an outside broker dealer, (c) a federal tax lien. He had been employed with them since January 2001.
Hynes was employed with Kestra Investment Services from February 2018 until April 2018.
If you have questions about an account handled by Gabriel (Gabe) Hynes ,call for a no charge consultation .
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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