SEC Bars Sean Michael Kane after Allegations of Misconduct
The SEC has reportedly barred Sean Michael Kane, a financial advisor from Philadelphia, for allegedly deceiving clients about his firing and purportedly impersonating them to conduct transactions, according to a press release.
Kane was purportedly terminated from Waddell & Reed, in February 2021 for alleged multiple policy violations, including unauthorized business activities and breaches in client privacy.
Despite his alleged termination, he purportedly continued advising former clients and reportedly claimed he was leaving voluntarily due to Waddell & Reed’s acquisition by LPL Financial. Allegedly, he impersonated clients in calls to the firm to conceal his dismissal. After Waddell & Reed’s suspicions arose, it reportedly sent cease-and-desist letters to Kane.
Sean Kane has reportedly accepted the SEC’s sanction without admitting guilt. He was later purportedly terminated from Cambridge Investment Research in 2023, following the SEC’s complaint.
FINRA BrokerCheck – Sean Michael Kane
The FINRA BrokerCheck tool is a free online tool that allows investors to research and verify the background and credentials of financial brokers, brokerage firms, and investment advisors registered with FINRA.
According to his FINRA broker report, Sean Kane was reportedly registered with the following firms during his career, among others.
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03/25/2021 – 03/30/2023
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CAMBRIDGE INVESTMENT RESEARCH, INC. (CRD#:39543)
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York, PA
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B
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10/02/2018 – 03/03/2021
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WADDELL & REED (CRD#:866)
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YORK, PA
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B
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03/11/2015 – 05/21/2018
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RESOURCE SECURITIES LLC (CRD#:133022)
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PHILADELPHIA, PA
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Regulation Best Interest
Under the “Regulation Best Interest” standard, broker-dealers are obligated to perform due diligence when evaluating any investment. If your financial advisor fails to perform due diligence on an investment before recommending it to you, they could be held liable for investment losses.
If your advisor unsuitably recommended an investment offering and you lost money, the securities attorneys at The White Law Group may be able to file a complaint for you. You may be able to recover losses by filing a FINRA Arbitration claim against the brokerage firm that sold you the investment.
Free Consultation with National Securities Attorneys
If you have suffered investment losses with Sean Michael Kane, the securities attorneys at the White Law Group may be able to help you. For a free consultation with a securities attorney, please call (888) 637-5510.
About the White Law Group
The White Law Group, LLC is a national securities fraud, securities arbitration, investor protection, and securities regulation/compliance law firm dedicated to helping investors in claims in all 50 states against their financial professional or brokerage firm. Since the firm launched in 2010, it has handled over 700 FINRA arbitration cases.
Our firm represents investors in all types of securities related claims, including claims involving stock fraud, broker misrepresentation, churning, unsuitable investments, selling away, and unauthorized trading, among many others.
With over 30 years of securities law experience, The White Law Group has the expertise to help investors to recover their securities fraud losses.
Last modified: November 13, 2024
