Charles Ernest Kenahan of Boston Massachusetts a stockbroker formerly registered with Merrill Lynch Pierce Fenner Smith Incorporated has been discharged by the securities broker dealer on July 9, 2019 supported by accusations that (1) unauthorized trades were executed in a customer’s account by Kenahan (2) investment recommendations made by the stockbroker failed to be suitable (3) and trades were effected in a customer’s account in an excessive manner by Kenahan.
Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that Kenahan is referenced in four additional customer initiated investment related disputes which pertain to allegations of his misconduct when he was associated with Merrill Lynch. In particular, Kenahan is referenced in a customer initiated investment related complaint in which the customer sought $148,353.00 in damages founded on accusations of false or misleading statements concerning the common or preferred stock transactions effected in the customer’s account, and poor advice concerning equities investments that were held by the customer.
Another customer filed an investment related complaint involving Kenahan’s conduct where the customer requested $700,000.00 in damages founded on allegations of Kenahan providing bad advice to the customer between 2012 and 2017; and the stockbroker effecting excessive and unwarranted stock trades resulting in unwarranted losses. FINRA Arbitration No. 18-01691 (May 1, 2018). Also, a customer filed an investment related arbitration claim concerning Kenahan’s activities where the customer requested $42,218,702.00 in damages based upon allegations that between 2007 and February of 2018, Kenahan effected unauthorized and excessive trades in the customer’s account, and he placed the customer in investments which failed to be suitable given the customer’s objectives for investing, tolerance for risk, or investment circumstances. FINRA Arbitration No. 19-00466 (Feb. 15, 2019).
Kenahan is also the subject of a customer initiated investment related arbitration claim in which the customer sought $40,000,000.00 in damages supported by accusations that from February of 2012 to December of 2017, false or misleading statements had been made to the customer; investment recommendations made by the stockbroker had been inappropriate; and penny stock and equity trades were effected in the customer’s account on an excessive basis. FINRA Arbitration No. 18-00974 (June 11, 2019).
Kenahan was employed by Merrill Lynch between December 27, 2007 and July 9, 2019.
