February 12, 2016- Crowley, LA
Rex Securities Law is investigating Kovack Securities broker Stanley J. Keyes of Keyes Financial Services in connection with customer complaints and a FINRA regulatory matter in 2011.
According to FINRA records Keyes has been named in several FINRA arbitrations. In case #13-1688 a customer alleged unsuitable recommendations in real estate securities. That case was settled in 3/2015 for $250,000.
In case #12-01771, a customer alleged unsuitable investments and breach of fiduciary duty regarding product diligence and disclosure in connection with variable annuities and real estate securities. That case was settled for $80,000.
In case #04-07684, a customer alleged unsuitability and unauthorized trading in connection with annuity investments. A settlement of $23,000 was reached in that matter.
To resolve FINRA allegations that Keyes violated firm policy by borrowing $214,000 from a customer, Keyes was fined $5,000 and suspended for three months. FINRA Case# 2009017605101.
According to FINRA records, in 3/2009 Keyes was ‘permitted to resign’ from FSC Securities for “borrowing money from firm customer in violation of firm policy.”
In 10/1996, Keyes was ‘permitted to resign’ from Edward D. Jones for “presented checks to the firm for deposit into his money market account knowing that there was not sufficient funds available to pay the check.”
According to FINRA records Keyes has been registered with Kovack Securities since 04/2009. Prior to that he was registered with FSC Securities.
If you have losses in an account handled by Stanley Keyes contact us to discuss how you may be able to recover damages from his employer for those losses.
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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