Published on:

James Kennedy Has Been Sanctioned by FINRA

James KennedyPublic records provided by the Financial Industry Regulatory Authority (FINRA) and accessed on December 21, 2017 indicate that former Illinois-based Securities America broker/adviser James Kennedy has been sanctioned by FINRA and suspended from acting as a broker. Fitapelli Kurta is interested in hearing from investors who have complaints regarding Mr. Kennedy (CRD# 858829).

James Kennedy has spent 36 years in the securities industry and was most recently registered with Securities America in Lemont, Illinois (2015-2017). Previous registrations include Saxony Securities in Chicago, Illinois (2003-2015); Associated Investment Services in Green Bay, Wisconsin (1995-2002); Associated Investment Services in Chicago, Illinois (1986-1994); Bear Stearns & Company (1982-1984); Lehman Brothers Kuhn Loeb (1979-1982); and Dean Witter Reynolds (1978-1979). He has passed six securities industry examinations: Series 63 (Uniform Securities Agent State Law Examination), which he obtained on June 28, 1979; Series 3 (National Commodity Futures Examination), which he obtained on January 31, 1983; Series 7 (General Securities Representative Examination), which he obtained on October 21, 1978; Series 27 (Financial and Operations Principal Examination), which he obtained on July 31, 1987; Series 4 (Registered Options Principal Examination), which he obtained on January 27, 1987; and Series 24 (General Securities Principal Examination), which he obtained on March 6, 1986. He is currently not registered with any state or firm.

According to his BrokerCheck report, he has received one customer complaint and one FINRA sanction, and he was discharged from his former employer in connection to alleged rule violations.

In November 2017 he was terminated from his position at Securities America following allegations he failed to disclose to the firm and to update his Form U4 reflecting that he had been notified that he was the subject of a FINRA investigation.

In November 2017 FINRA sanctioned him following allegations he executed discretionary transactions in a customer’s account following her verbal authorization but without obtaining prior written authorization from the customer or written acceptance from his firm of the account as discretionary. He was issued a 15-day suspension and a fine of $5,000.

In 2015 a customer alleged James Kennedy, while employed at Saxony Securities, recommended unsuitable investments in options and stock products. The complaint settled in 2016 for $350,000.

If you have lost money investing with James Kennedy, you may be able to recover your losses. Call Fitapelli Kurta at 877-238-4175 for a free consultation. All cases are taken on a contingency basis: Fitapelli Kurta only gets paid if and when you collect funds. Time to file your claim may be limited, so we encourage you to avoid delay. Call 877-238-4175 now to speak to an attorney for free.