Joe Henehan (CRD#: 1344245), a former broker with Hornor, Townsend & Kent, LLC (CRD#: 4031) in San Bernardino, California, has been permitted to resign from the firm after the company informed him he would be terminated, according to his BrokerCheck record accessed on March 10, 2020.
What happened to lead to Joe Henehan’s resignation? His firm found that he failed to inform the firm of his tax liens, thereby violating firm policy and securities regulations. The firm told Joe Henehan that he would be terminated, so he resigned.
Indeed, Joe Henehan’s BrokerCheck record lists 11 tax liens, starting in 2009, when he became subject to a tax lien of $29,573. Here are his other listed liens:
- In 2010, he had three tax liens—one for $15,658.23, one for $93,874.95, and one for $4,350.08.
- In 2012, he had one tax lien for $86,917.
- In 2013, he had one lien for $10,892.
- In 2014, he had one lien for $205,660.
- In 2017, he had one tax lien for $117,751.
- In 2019, he had three tax liens—one for $15,288.33, one for $39,574.74, and one for $018,521.34.
By not telling his firm about these liens, he violated his firm’s policy, but he also violated FINRA Rule 4530, which outlines the reporting requirements that brokers must follow. FINRA Rule 4530 mandates that FINRA members report violations within 30 days of learning of a violation. These disclosures could include:
- Violations of FINRA rules
- Violations of federal securities laws
- Violations of state securities laws
- Being denied registration from a state securities regulator
- Being convicted of, or pleading guilty to, a felony (or a misdemeanor that involves securities)
These disclosures must be reported on the Form U4, the Uniform Application for Securities Industry Registration or Transfer (which must be filed when a broker enters the securities industry for the first time or moves between firms throughout their careers).
“The goal of FINRA 4530, robust disclosure, is no different than the broad public policy goals of our securities laws. Member firms should provide as much information as possible to investors to enable them to make well informed decisions regarding who they trust with their investments,” says attorney Marc Fitapelli, investor advocate and partner at Fitapelli Kurta LLC. If a broker has any unsatisfied tax liens, this must be reported—but, in the case of Joe Henehan and his multiple unsatisfied tax liens, this was not done.
Joe Henehan is no longer registered as a broker. In addition to Hornor, Townsend & Kent, LLC (CRD#: 4031), he has also worked for six other broker-dealers:
- Beck, Inc. (CRD#: 1763)
- Hagerty, Van Mourick & Logan (CRD#: 7717)
- Royal Alliance Associates, Inc. (CRD#: 23131)
- Integrated Resources Equity Corporation (CRD#: 6403)
- ManEquity, Inc. (CRD#: 5249)
- Penn Mutual Equity Services, Inc.
Joe Henehan has passed the Series 63 – Uniform Securities Agent State Law Examination, Sie – Securities Industry Essentials Examination, and the Series 7 – General Securities Representative Examination.
If Joe Henehan was your broker and you have concerns about your investments, don’t hesitate to contact the securities attorneys of Fitapelli Kurta to learn about your options for recovery. Call (877) 238-4175 or email firstname.lastname@example.org for your free case consultation.