Christopher Duke Bennett,  J.J.B. Hilliard, W. L. Lyons, Louisville, KY

FINRA Bars Christopher Duke Bennett for Failure to Cooperate with its Investigation 

According to Financial Advisor IQ, citing a document from the Financial Industry Regulatory Authority on August 6, 2020, the regulator has barred former  J.J.B. Hilliard, W. L. Lyons (Hilliard Lyons) broker, Christopher Duke Bennett who reportedly has “more than a dozen customer disputes dating back to 2016.”

FINRA reportedly launched an investigation in 2019, after a customer alleged that Bennett had traded in the customer’s account without her permission, according to a Letter of Acceptance, Waiver and Consent (AWC). After Bennett reportedly failed to provide requested documents in the investigation, FINRA allegedly barred him from associating with any FINRA member at any time. Bennett reportedly consented to FINRA’s bar without admitting or denying its findings, according to the AWC.

Bennett was reportedly registered with Hillard Lyons in Louisville, KY from 12/13/1995  until 10/22/2018 when he was allegedly discharged from the firm, according to the AWC.

He reportedly currently has 15 customer complaints on his broker profile dating back to 2016. Allegations purportedly include poor performance, unauthorized trading, violation of suitability rules, failure to properly diversify a client’s portfolio, over-concentration, misrepresentation and breach of fiduciary duty, excessive commissions among others, according to BrokerCheck.

Some of the disputes reportedly are still pending, one was denied, and one was awarded $445,000 through arbitration. Several disputes appear to have been settled for amounts ranging from $15,000 to $470,000, according to FINRA.

In addition to the bar, FINRA reportedly suspended and fined Bennett in 2019 over allegations he exercised discretionary trading authority in accounts of several investors without their authorization or the approval of the firm.

Filing a Complaint against your Brokerage Firm

When brokers abuse client accounts or conduct transactions that violate securities laws, such as unauthorized trades or making unsuitable investments, 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.

If you are concerned about investments with Christopher Duke Bennett, the securities attorneys of The White Law Group may be able to help you. For a free consultation with a securities attorney, please call 888-637-5510.

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 on The White Law Group, visit www.WhiteSecuritiesLaw.com.