Kevin Jedlicka, formerly of Chapin Davis, Suspended from Securities Industry for Six Months
Have you lost money with financial advisor Kevin Jedlicka of Baltimore, Maryland? We are investigating allegations made by FINRA, the Financial Industry Regulatory Authority, against Kevin J. Jedlicka. FINRA suspended Jedlicka from the securities industry for six months after he was alleged to have engaged in short-term trading of Unit Investment Trusts (or UITs) in four customer accounts.
UITs are not designed for short-term trading because of their commissions and costs of trading. Between January 2015 and January 2016, Kevin Jedlicka recommended on numerous occasions that his customers sell their UITs and then purchase new, different UITs. FINRA alleged this to be unsuitable in view of the frequency and costs of trading. FINRA further alleged that customers lost over $200,000 from this trading.
Kevin Jedlicka was a financial advisor and registered representative of Chapin Davis from January 2015 to January 2016. He worked at branch offices in Baltimore, Maryland. Jedlicka was fired by Chapin Davis for this conduct, and he also filed for bankruptcy in Maryland in 2017.
Brokerage firms like Chapin Davis have a responsibility to adequately supervise all representatives who are registered through their firm. Brokerage firms also must take steps to ensure that their financial advisors follow all securities rules and regulations, as well as internal firm policies. When brokerage firms 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; Ann Arbor, Michgan; and the Seattle area. We represent investors in FINRA arbitration proceedings in all 50 states, including investors in Maryland and in the Baltimore area. Our attorneys have represented over one thousand investors against many brokerage firms in the past.
Click to view: Jedlicka, Kevin FINRA AWC
Click to view: Jedlicka, Kevin BrokerCheck 1.3.18
If you lost money with Kevin Jedlicka or Chapin Davis, please CONTACT US at 720-599-3505 for a free evaluation of your case.
Israels & Neuman, PLC is a private law firm and is not affiliated with any government or law enforcement agency. Any investigation referenced in this blog is independent in nature and is being conducted by our law firm privately, not in conjunction with any government or law enforcement agency. All information contained in this blog should be deemed statements of opinion derived from the author’s review of public records, not statements of fact. This blog is advertising material and does not create an attorney client relationship, nor does it constitute legal advice. Everyone’s situation is different and the question of whether or not you have a claim will vary on a case-by-case basis. In contingent representation, clients may still be liable for costs.