Kevin McCarthy Lawsuit & FINRA Bar (Madison Avenue Securities) 2026
The White Law Group is investigating the Kevin McCarthy lawsuit and related customer complaints against the former Madison Avenue Securities broker, who was barred by FINRA in May 2026 after allegations surfaced that $1.6 million disappeared from an elderly client’s bank accounts. Here is what is on his record and what your options may be. If you believe you have a claim, you can also learn more about the FINRA arbitration process.
The Kevin McCarthy Lawsuit: What the Miami-Dade Complaint Alleges
A customer complaint reportedly filed against McCarthy in late 2025 has since evolved into a civil case pending in Miami-Dade County Circuit Court (Docket No. 2025-020070-CA-01). The complaint alleges that McCarthy managed an elderly client’s financial affairs without a valid durable power of attorney and allegedly helped facilitate the disappearance of $1.6 million from three of the client’s bank accounts between January 2018 and June 2024. It further alleges that McCarthy failed to report the client’s death, that his family received money and assets from the client’s accounts, and that unauthorized changes were made to the client’s beneficiary designations without proper signatures. These allegations have not been proven, and McCarthy has not been found liable in this matter.
Who Is Kevin McCarthy?
Kevin Christopher McCarthy (CRD #1702715) entered the securities industry in 1987. He was most recently registered with Madison Avenue Securities, LLC in Hialeah, Florida, from December 2007 until his termination in January 2026. He is not currently registered with any FINRA member firm.
Termination From Madison Avenue Securities
Madison Avenue Securities reportedly discharged McCarthy on January 30, 2026, following an internal review triggered by a written complaint. According to the firm’s disclosure, the review determined that McCarthy had accessed clients’ personal bank accounts and was involved in payments made from those accounts, some of which allegedly went to people with a familial relationship to him.
FINRA Bar Over Refusal to Provide Documents
FINRA barred McCarthy from the securities industry, but the bar itself did not resolve the misappropriation allegations. According to FINRA’s Acceptance, Waiver and Consent letter (Case No. 2025088420501), McCarthy was barred because he allegedly refused to provide documents and information FINRA requested while investigating the Form U5 allegations his firm had reported, in alleged violation of FINRA Rules 8210 and 2010. Without admitting or denying the findings, McCarthy consented to a permanent bar from associating with any FINRA member firm in any capacity, effective May 7, 2026.
Other Customer Disputes on McCarthy’s Record
McCarthy’s BrokerCheck record discloses three other, older customer disputes, all settled. A 2018 dispute alleging unsuitable recommendations and misrepresentation tied to a 2015 real estate security purchase settled for $19,000. A 2012 dispute alleging unsuitable investments sold to a client, her husband, and her mother settled for $135,000. A 2010 FINRA arbitration alleging unsuitability, breach of fiduciary duty, and failure to supervise related to a 2008 REIT investment settled for $40,000. Settlements are not findings of wrongdoing.
Frequently Asked Questions
How do I file a claim to recover money invested through Kevin McCarthy?
Most brokerage account agreements typically contain a pre-dispute arbitration clause, so claims against a broker like McCarthy are generally filed and resolved through FINRA arbitration rather than in court. The pending Miami-Dade case shows that some claims can also proceed as civil litigation depending on how they arise. Either path can result in a monetary recovery for investors who suffered losses.
What does it mean to misappropriate or convert client funds, and why does it matter?
Misappropriation happens when a financial professional takes or diverts a client’s money for a purpose the client never authorized. It is one of the most serious forms of broker misconduct and can support both a regulatory bar and a separate claim for damages. The allegations against McCarthy remain unproven, but if true, they would represent a serious breach of the trust clients place in their broker.
Can Madison Avenue Securities be held responsible for my losses, even if it did not know about or approve McCarthy’s alleged conduct?
Possibly. Brokerage firms have a duty to reasonably supervise their registered representatives, and a firm that fails to detect red flags in how a broker is handling client accounts may be liable for failing to supervise. Investors do not need to show the firm approved the specific transactions at issue to pursue this type of claim.
Was Kevin McCarthy barred for misappropriating client funds?
No. FINRA barred McCarthy after he allegedly refused to provide documents and information requested during its investigation, not based on a finding that he misappropriated funds. The underlying misappropriation allegations remain separate, unresolved, and are now part of the pending Miami-Dade lawsuit.
The White Law Group is a national securities fraud law firm with offices in Chicago and Seattle representing investors in claims against brokers and brokerage firms. If you invested with Kevin McCarthy or Madison Avenue Securities and have concerns about your account, contact The White Law Group for a free consultation at (888) 637-5510 or visit our contact page. You can also learn more about the FINRA arbitration process on our website.
