Kevin Meadows, formerly with Cape Securities, Suspended from Securities Industry
Have you lost money with financial advisor Kevin Joseph Meadows from Columbus, Georgia? We are looking into allegations made by FINRA (the Financial Industry Regulatory Authority) against Kevin K. Meadows. FINRA suspended Kevin Meadows from the securities industry for three months.
Meadows was being investigated regarding allegations that he engaged in unsuitable and excessive trading (churning). FINRA alleged that one of Meadows’s elderly customers had cost-to-equity ratios of 37% to 53%. To put this in perspective, if an account had a cost equity ratio of 37%, that means the trading in the account would have to make a 37% profit annually just to break even from the costs of trading.
Kevin Meadows was a registered representative and financial advisor with Cape Securities from June 2013 to December 2017. He worked out of a branch office in Columbus, Georgia. Meadows has also been the subject of four customer complaints and three tax liens.
Broker-dealers like Cape 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 Georgia. Our attorneys have represented over one thousand investors against many brokerage firms in the past.
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