FINRA Bars Matthew D. Kerby of Edward Jones
According to the Financial Industry Regulatory Authority (FINRA), the regulator has permanently barred Matthew D. Kerby (CRD#: 5381195, Paoli, IN) from the securities industry.
FINRA was reportedly investigating allegations that Kerby converted an elderly customer’s funds. During the investigation, Kerby apparently refused FINRA’s request for information. In doing so, according to FINRA, Kerby is violating FINRA rules 8210 and 2010.
According to his FINRA BrokerCheck report, Kerby was registered with Edward Jones in Paoli, Indiana from August 2007 until November 2017 when he was discharged for “Misuse of client funds for his own benefit.”
For FINRA’s full findings see FINRA case #2017056495801.
Failure to Supervise
Brokerage firms are required to adequately supervise their advisors. They must ensure they are complying with FINRA rules.
When brokers abuse client accounts and conduct transactions that violate securities laws, the brokerage firm they are working with may be liable for investment losses. Brokerage firms that fail to monitor the business activities of their employees may be liable for investment losses due to negligent supervision for the misconduct of their employees.
The brokerage firms can be held responsible for any losses in a FINRA arbitration claim if it is determined that they failed to properly supervise their agent.
Are you concerned about investments you made with Matthew D. Kerby? If so, the attorneys at The White Law Group may be able to help you. For a free consultation with a securities attorney, please call (888) 637-5510.
The foregoing information, which is all publicly available, is being provided by The White Law Group.
The White Law Group, LLC is a national securities fraud, securities arbitration, investor protection, and securities regulation/compliance law firm with offices in Chicago, Illinois and Franklin, Tennessee. For more information, please visit our website, www.whitesecuritieslaw.com.