Former Morgan Stanley Broker, Kevin Gunnip, Barred By FINRA For Refusing To Cooperate In FINRA Investigation Into Unsuitable Trading
Kevin Gunnip (CRD # 2701801) is a former Financial Advisor at Morgan Stanely in Southlake, TX. Kevin Gunnip has been in the securities industry since 1996.
According to publicly available records released by the Financial Industry Regulatory Authority (FINRA), in September 2019, FINRA barred Kevin Gunnip from “acting as a broker or otherwise associating with a broker-dealer firm” for refusing “to appear for on-the-record testimony requested by FINRA in connection with its investigation of allegations that Gunnip engaged in unsuitable short-term trading of long-term securities.”
For a copy of the FINRA sanction, click https://www.finra.org/sites/default/files/fda_documents/2017055476201%20Kevin%20Scott%20Gunnip%20CRD%202701801%20AWC%20va.pdf.
In February 2018, Kevin Gunnip was permitted to voluntarily resigned from Morgan Stanley after “allegations about whether the representative may have executed some transactions for non-discretionary client accounts without confirming the trades beforehand in all cases.”
In addition, Kevin Gunnip has three customer complaints on his CRD alleging the following:
- August 2017 – “Claimants alleged, inter alia, excessive trading with respect to transactions made in managed accounts – 2010 to 2014.” That matter settled for $614,000.
- February 2017 – “Claimant alleged, among other things, that some of his investments had trading were unsuitable.” The matter settled for $145,000.
- June 2016 – “Claimants allege, inter alia, that their financial advisor recommended unsuitable investments.” The matter settled for $150,000.
For a copy of Kevin Gunnip’s CRD, click https://brokercheck.finra.org/individual/summary/2701801.
Financial advisors have a legal and regulatory obligation to recommend only suitable investments that are appropriate for their clients’ needs and objectives. Their employing brokerage firm has a legal and regulatory obligation to supervise the Financial Advisors’ sales practices and dealings with clients. To the extent any of these duties are breached, the customer may be entitled to a recovery of his or her investment losses.
The Wolper Law Firm represents investors nationwide in securities litigation and arbitration on a contingency fee basis. Matt Wolper, the Managing Principal of the Wolper Law Firm, is a trial lawyer who has handled hundreds of securities cases during his career involving a wide range of products, strategies and securities. Prior to representing investors, he was a partner with a national law firm, where he represented some of the largest banks and brokerage firms in the world in securities matters. We can be reached at 800.931.8452 or by email at email@example.com.
- Learn How Due Diligence Regulations Protect Investors Seeking Private Placement Transactions
- Triad Investors LLC, Broker and The Just Company Investment Adviser, Mark Just, Has Six Customer Complaints, Including Complaints For The Sale Of Alternative Investments
- Former Stifel, Nicolaus & Company, Inc. Broker Joseph H. Pratt Barred by FINRA for Insider Trading; Customer Complaint Pending
- Former Dinosaur Financial Group, LLC Broker and Investment Adviser David Karandos Has Six Customer Complaints, Including 3 Pending Complaints Alleging Sales Practice Misconduct
- Former Ameriprise Financial Services Broker and Investment Adviser Angel Bardeche Fined and Suspended After Engaging in Unsuitable Mutual Fund Trading for Clients
- Benjamin F. Edwards and Co., Inc. Broker John Griner Fined and Suspended After Allegedly Improperly Exercising Discretion Without Proper Authorization
- FINRA Reports That Margin Levels in Customer Accounts Have Reached All-Time Highs of More Than $722 Billion
- How to Stop Stock Loss Caused by Your Broker-Dealer
- Former LPL Financial LLC Broker, Maziar Monshi, Has Had Three Customer Complaint Disclosures Alleging Sales Practice Misconduct
- Merrill Lynch, Pierce, Fenner & Smith Incorporated Broker, John Gatto, Has Had Eight Customer Complaint Disclosures Alleging Sales Practice Misconduct