Capital City Securities Ordered to Pay for Failing to Supervise Clint Keener
Have you lost money with financial advisor Clint Keener from Powell, Ohio? We are continuing to look into allegations made by FINRA (the Financial Industry Regulatory Authority) against Clint Keener. FINRA recently ordered Keener’s former brokerage firm, Capital City Securities, to pay over $53,000 in restitution to former customers of Keener. FINRA alleged that Capital City Securities failed to adequately supervise Keener’s excessive trading or churning.
In 2019, FINRA barred Clint Keener from the securities industry after he failed to respond to an investigation. Keener was being investigated regarding allegations that he made unsuitable investment recommendations.
Clint H. Keener was a registered representative and financial advisor with Capital City Securities from May 2012 to October 2019. He worked out of a branch office in Powell, Ohio. Keener has been the subject of five customer complaints and three regulatory actions.
Broker-dealers like Capital City Securities have a responsibility to adequately supervise all representatives who are registered through their firm, including investments sold by their registered representatives. Broker-dealers also must take steps to ensure that their financial advisors follow all securities rules and regulations. When broker-dealers fail to adequately supervise their registered representatives, they may be liable for investment losses sustained by customers.
Israels & Neuman PLC is a securities and investment fraud law firm with offices in Denver, Colorado; Seattle, Washington; Phoenix, Arizona and Ann Arbor, Michigan. We represent investors in FINRA arbitration proceedings in all 50 states, including investors in Ohio. Our attorneys have represented over one thousand investors against many brokerage firms in the past.