Did you lose money investing with Kyle Harrington (CRD# 2282328)?
Galvin Legal, PLLC is launching an investigation on behalf of investors who may have suffered losses investing with Kyle Harrington. If you suffered losses investing with Kyle Harrington, then Galvin Legal, PLLC may be able to help you recover your losses in a Financial Industry Regulatory Authority (“FINRA“) arbitration claim.
If you suffered losses and would like a free consultation with a securities attorney, then please call Galvin Legal, PLLC at 1-800-405-5117.
As of October 12, 2020, Kyle Harrington’s FINRA BrokerCheck Report contains the following:
BARRED: FINRA has barred this individual from acting as a broker or otherwise associating with a broker-dealer firm.
Disclosure Events
9 Customer Dispute(s)
2 Regulatory Event(s)
See FINRA Disciplinary Proceeding No. 2015047303901 Complaint
See FINRA Disciplinary Proceeding No. 2015047303901 OHO Decision
See FINRA Disciplinary Proceeding No. 2015047303901 NAC Decision
2 Employment Separation After Allegations
UPDATE 10/11/2020: According to FINRA’s February 2019 Disciplinary Actions: “Kyle Patrick Harrington (CRD #2282328, San Diego, California) December 31, 2018 – An OHO decision became final in which Harrington was barred from association with any FINRA member in all capacities, ordered to pay $105,000, plus interest, in restitution to his member firm and ordered to pay disgorgement in the amount of $190,974.64, plus interest, to FINRA. The sanctions were based on the findings that Harrington converted customer funds, intentionally causing the customer to wire $19,874.64 of her funds into his account. The findings stated that Harrington took the funds for his own use, without the customer’s authorization, and never returned them. The findings also stated that Harrington attempted to obstruct FINRA’s investigation into his conversion by contacting the customer and asking her to sign a false document stating that she had stayed at his vacation rental property. The findings also included that Harrington engaged in private securities transactions, for which he was compensated, without giving prior notice to or receiving prior written approval from his firm and without the firm’s supervision. FINRA found that Harrington made misstatements and provided false documents to his firm in connection with its investigation into whether he had engaged in outside business activities. Harrington intentionally misrepresented the nature of payments he received and deposited into his bank accounts as rental income and a payment from his former broker dealer. In fact, the payments were for the purchase of stock in Harrington’s outside business. Harrington knowingly caused falsified rental contracts to be sent to his firm in order to conceal the true purpose of the funds he had received. FINRA also found that Harrington provided false and misleading documents and information to FINRA in connection with its investigation of the private securities transactions and the conversion. Harrington produced a bank statement to FINRA that his sales assistant, under his direction, altered to remove a customer’s name as the originator of a wire transfer. Harrington also submitted a written response to FINRA that falsely represented that he was entitled to the funds he directed the customer to wire to him, claiming it was payment for investment advisory fees rendered to the customer. Harrington also falsely testified that the purported rental agreements with another customer were authentic and represented legitimate rental transactions. (FINRA Case #2015047303901 Complaint, OHO Decision, and NAC Decision)
Current and Previous Registrations
12/07/2016 – 07/18/2018 AURORA CAPITAL LLC (CRD#:37924) BRIDGEHAMPTON,, NY
07/05/2012 – 11/18/2016 NATIONAL SECURITIES CORPORATION (CRD#:7569) SAN DIEGO, CA
03/12/2012 – 07/18/2012 BANNOCKBURN PARTNERS, LLC (CRD#:109761) SYOSSET, NY
12/15/2009 – 11/18/2011 MATRIX CAPITAL GROUP, INC. (CRD#:33364) NEW YORK, NY
02/07/2008 – 12/21/2009 FIRST ALLIED SECURITIES, INC. (CRD#:32444) LA JOLLA, CA
07/06/2007 – 02/11/2008 ROBERT B. AUSDAL & CO. INC. (CRD#:7995) LA JOLLA, CA
06/13/2005 – 06/29/2007 DEUTSCHE BANK SECURITIES INC. (CRD#:2525) SAN FRANCISCO, CA
07/01/2003 – 06/13/2005 WACHOVIA SECURITIES, LLC (CRD#:19616) ST. LOUIS, MO
07/18/2002 – 07/01/2003 PRUDENTIAL SECURITIES INCORPORATED (CRD#:7471) NEW YORK, NY
07/09/1999 – 07/19/2002 CIBC WORLD MARKETS CORP. (CRD#:630) NEW YORK, NY
09/01/1998 – 05/19/1999 BANCBOSTON ROBERTSON STEPHENS INC. (CRD#:41271) SAN FRANCISCO, CA
07/17/1998 – 09/01/1998 BANCAMERICA ROBERTSON STEPHENS (CRD#:17977) SAN FRANCISCO, CA
12/17/1997 – 01/21/1998 MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED (CRD#:7691) NEW YORK, NY
08/15/1997 – 09/15/1997 MORGAN STANLEY & CO., INCORPORATED (CRD#:8209) NEW YORK, NY
08/14/1996 – 09/05/1996 GOLDMAN, SACHS & CO. (CRD#:361) NEW YORK, NY
05/17/1994 – 01/16/1995 PUTNAM, LOVELL & THORNTON INC. (CRD#:22698) NEW YORK, NY
08/16/1993 – 02/10/1994 MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED (CRD#:7691) NEW YORK, NY
If you suffered losses and would like a free consultation with a securities attorney, then please call Galvin Legal, PLLC at 1-800-405-5117.
Due Diligence Requirement
FINRA requires broker’s to conduct due diligence on investments and to conduct a suitability analysis when recommending securities to a customer that takes into account the customer’s knowledge and experience. FINRA Rule 2111(a) states that “a member or an associated person must have a reasonable basis to believe that a recommended transaction or investment strategy involving a security or securities is suitable for the customer, based on the information obtained through the reasonable diligence of the member or associated person to ascertain the customer’s investment profile. A customer’s investment profile includes, but is not limited to, the customer’s age, other investments, financial situation and needs, tax status, investment objectives, investment experience, investment time horizon, liquidity needs, risk tolerance, and any other information the customer may disclose to the member or associated person in connection with such recommendation.”
Rule 2111 is composed of three main obligations: reasonable-basis suitability, customer-specific suitability, and quantitative suitability. Brokers and the brokerage firms they work for that fail to conduct adequate due diligence on investments they recommend or that make unsuitable recommendations can be held responsible for the customer’s losses in a FINRA arbitration claim.
If you suffered losses and would like a free consultation with a securities attorney, then please call Galvin Legal, PLLC at 1-800-405-5117.
Request a Free Consultation with a Securities Attorney
If you suffered losses investing with Kyle Harrington and would like a free consultation with a securities attorney, then please call Galvin Legal, PLLC at 1-800-405-5117.
This information is all publicly available and is being provided to you by Galvin Legal, PLLC.
Galvin Legal, PLLC is a national securities arbitration, securities mediation, securities litigation, securities fraud, securities regulation and compliance, and investor protection law practice. For more information on Galvin Legal, PLLC and its representation of investors, please visit www.galvinlegal.com or call 1-800-405-5117.
