The law firm of Oakes & Fosher is presently investigating the alleged misconduct of securities broker Kevin Curry. According to his publicly available FINRA BrokerCheck report, Kevin Curry has been the subject of multiple customer disputes over the course of his career.

Kevin Curry is a New York-based securities broker. He has worked in the securities industry for twenty-six years. During his career, he has been registered with six different securities firms.

His Registrations

  • Lehman Brothers (1993-1995)
  • Wayne, Grayson Capital Corp. (1995-1997)
  • Gruntal & Co. (1997-1998)
  • Petersen Investments (1998-2018)
  • Royal Alliance Associates (2018-Present)

The Allegations 

  • In February 2012, a customer alleged that Kevin Curry used hard pressure sales tactics regarding the purchase of options and improperly described them as safe. This case was settled for $23,600 in damages.
  • In June 2014, a customer alleged that Kevin Curry churned their account, executed unauthorized transactions, and committed fraud. This case was settled for $285,000 in damages.

What Is Churning?

Securities brokers receive compensation through either charging a commission on every transaction, or by charging an annual fee to customers for managing the brokerage account.  Charging a commission on every trade can lead a broker to buy or sell more frequently in order to earn more compensation. . This method of compensation can lead to a fraudulent method of trading known as churning, where securities brokers trade an investor’s account excessively with the intent of increasing the amount of compensation they receive through commission.  Churning can be incredibly harmful to investors as it prevents their principal from growing as expected, can result in a securities broker making unsuitable trades they might not otherwise, and it causes the customer to incur the highly unnecessary charges paid to the brokers as their commissions. These charges can very easily rack up and significantly drain an investor’s principal.

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 Kevin Curry, 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.