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Written by 3:23 pm Current Investigations

Kevin P. Hudak Barred from Securities Industry

FINRA has permanently barred Kevin P.Hudak (CRD# 4439153, Albuquerque, NM) from acting as a broker or otherwise associating with firms that sell securities to the public.

According to information on FINRA’s website, without admitting or denying the findings, Hudak consented to the sanction and to the entry of findings that he allegedly submitted non-solicitation forms to his member firm that had non-authentic customer signatures. The findings stated that these non-solicitation forms were allegedly required by Hudak’s firm in order to process low-priced securities transactions for his customers.

Hudak allegedly falsified these non-solicitation forms by having customers sign blank forms, which he then photocopied and reused for future low-priced securities transactions. The findings also stated that Hudak purportedly provided false and misleading testimony to FINRA regarding the non-solicitation forms by repeatedly denying that he had asked customers to sign blank non-solicitation forms and that he copied customer signatures for use as if they were authentic.

For FINRA’s full findings see case # 2015047041301.

According to FINRA Broker Check, Hudak was registered with Foothill Securities, Inc. in Albuquerque, NM from 06/2014 – 10/2015, and with Cetera Advisor Networks in Albuquerque, NM from 02/2006 – 06/2014.

Brokerage firms are required to properly supervise all advisors they employ and to ensure that those advisors are complying with applicable FINRA rules and regulations. If it can be demonstrated that Hudak’s former employer failed to properly supervise him, his employer may be held responsible for the losses in a FINRA arbitration claim.

If you suffered losses investing with Kevin Hudak and would like a free consultation to discuss your litigation options, please call The White Law Group at 1-888-637-5510.

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.

Tags: , , , , , , , , , , Last modified: November 18, 2016