The law firm of Oakes & Fosher is presently investigating the alleged misconduct of former securities broker Kenneth Greer Jr. According to his publicly available FINRA BrokerCheck report, Kenneth Greer Jr. has been the subject of a FINRA sanction.
Kenneth Greer Jr. was a Massachusetts based securities broker. He worked in the securities industry for five years. During his career, he was registered with two different securities firms. He is not currently working as a registered securities broker in any fashion.
- Wachovia Capital Markets (2006-2009)
- Liberty Tree Advisors (2013-2016)
Kenneth Greer Jr.’s was officially sanctioned by FINRA in September 2018. The findings in this matter state that he allegedly engaged in outside business activities without providing written notice to his member firm. Due to these alleged actions, he was fined $5,000 and suspended from acting as a securities broker in any fashion for a period of two months.
What Does This Mean?
Securities brokers are not allowed to engaged in outside business activities outside the scope of their member firm without disclosing their involvement to their member firm. This is because private business ventures can often create significant conflicts of interest for securities brokers. Many securities brokers might find themselves recommending privately traded securities to member firm customers because they have a financial stake in it, or because they are receiving cash kickbacks from a third party, or simply because of the incredibly large commission they receive when the transaction is executed. Conflicts of interest like this can very easily lead to brokers recommending securities to customers that are not financially suited for them. It is the responsibility of securities firms to prevent its customers from being harmed in this fashion. They are not excused simply because their registered broker forgoes the disclosure process. These firms are required to have adequate procedures in place designed to monitor its registered brokers and prevent them from engaging in any unauthorized activity.
Oakes & Fosher Can Help
Many investors are unaware of the legal recourse available to them after losing money due to securities broker fraud and/or negligence. The truth is that investors who have lost money in this fashion may actually be entitled to damages. Oakes & Fosher dedicates its entire legal practice to helping investors across the nation. If you, or someone you know, have lost money investing with Kenneth Greer Jr., please contact Oakes & Fosher for a free and private consultation. Oakes & Fosher handles cases on a contingency basis, which means there are no fees charged unless we collect for you.