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Written by 5:56 pm Blog, Broker Investigations

Kyle Harrington Barred from Securities Industry

Kyle Harrington

Financial Advisor Kyle Harrington –San Diego, CA

Are you concerned about investments you made with former financial advisor Kyle Harrington? If so, the securities attorneys at The White Law Group may be able to help you to recover your losses.

According to the Financial Industry Authority (FINRA), the regulator has reportedly permanently barred financial advisor Kyle Harrington from associating with any FINRA member firm.

According to FINRA, Harrington was reportedly named a respondent in a FINRA complaint alleging that he converted customer funds by intentionally and without authorization taking and exercising ownership over $19,874.64 belonging to one of his customers when he neither owned the property nor was entitled to possess it.

The complaint further alleges that Harrington engaged in a series of private securities transactions with at least two individuals through which he sold over 300,000 shares of restricted stock he had purportedly received as compensation from a company for approximately $276,000.

Harrington purportedly failed to provide his member firm with prior written notice of his private securities transactions, including his proposed role as seller in the transactions. The complaint also alleges that Harrington lied to his firm when he mischaracterized the purpose of payments received into his bank accounts.

According to his broker report, Harrington was a registered representative with National Securities Corp. in San Diego, California from July 2012 until November 2016 when he was reportedly discharged for “Internal Review regarding the appearance of conversion of client funds.” His FINRA BrokerReport shows 14 disclosure events including two employment separations, 9 customer complaints, and 2 regulatory disclosures.

Harrington reportedly worked for 17 different firms during his 20 years working as broker in the securities industry. Most recently, he was employed with Aurora Capital in Bridgehampton New York until July 2018.

For FINRA’s full findings, see FINRA case No. 2015047303901.

Failure to Supervise

The White Law Group is investigating potential claims involving Kyle Harrington and the liability his employers may have for failure to properly supervise his alleged activities.

Brokerage firms have a responsibility to adequately supervise their advisors and ensure compliance with FINRA rules.

When brokers engage in abusive practices with client accounts or conduct transactions that violate securities laws, the brokerage firm they are affiliated with may be held accountable for any resulting investment losses. If brokerage firms fail to properly monitor the business activities of their employees, they may be liable for investment losses due to negligent supervision.

If a brokerage firm failed to fulfill its duty to supervise its agents appropriately, the firm can be held responsible for losses in a FINRA arbitration claim.

If you suffered investment losses with Kyle Harrington, the securities attorneys at The White Law Group may be able to help you. For a free consultation with an attorney specializing in investment fraud, please call (888) 637-5510.

The foregoing information, which is all publicly available, is being provided by The White Law Group.

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, please visit our website, www.whitesecuritieslaw.com.




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