FINRA Investigates Kenneth B. Neuner for Unauthorized Discretion
According to the Financial Industry Regulatory Authority, the regulator has permanently barred Kenneth B. Neuner from the securities industry. Without admitting or denying the findings, Neuner consented to the sanction and to the entry of findings that he refused to appear for FINRA-requested on-the-record testimony during the course of an investigation into his unauthorized exercise of discretion purported by his member firm on a Form U5.
According to his FINRA BrokerCheck report, Neuner was registered with VSR Financial Services in Dallas, TX for twenty years. In 2016 he made the move to Summit Brokerage Services in Dallas, Texas where he was registered until he was discharged in March 2017 for unauthorized exercise of discretion.
Unauthorized trading occurs when a broker buys, sells, or exchanges securities without proper authority from the investor. FINRA Rules 2510(b) and 2020 and NYSE Rule 408(a) prohibit a broker from making or exercising discretionary trading authority in a customer’s account.
For FINRA’s full findings see FINRA case #2017053555601.
Recovery of Investment Losses
Brokerage firms are required to adequately supervise their agents to ensure they are complying with FINRA rules. They can held responsible for any losses in a FINRA arbitration claim if it is determined that they failed to properly supervise their agent.
FINRA operates the largest securities dispute resolution forum in the United States, and has extensive experience in providing a fair, efficient and effective venue to handle a securities-related dispute.
If you suffered losses investing with Kenneth B. Neuner, the attorneys at The White Law Group may be able to help. For a free consultation, please call (888) 637-5510.
The foregoing information, which is all publicly available on FINRA’s website, 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 www.whitesecuritieslaw.com.