stock misconduct

Clint Harley Keener of Powell Ohio a stockbroker formerly employed by Capital City Securities LLC has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity founded on findings that Keener failed to comply with an investigation into accusations of customers receiving bad investment advice from Keener. Letter of Acceptance Waiver and Consent No. 2015048347901 (Nov. 12, 2019).

According to the AWC, during the period in which Keener was employed by Capital City Securities, an investigation was launched by FINRA into allegations of unsuitable investment recommendations being made by him. The AWC stated that Keener was sent a request from FINRA on September 24, 2019 in regard to scheduling Keener’s recorded testimony about the accusations. On October 4, 2019, FINRA was notified by Keener that there would be no cooperation on his part. FINRA determined that Keener’s refusal to testify in the investigation constituted violations of FINRA Rules 2010 and 8210. Keener was barred by FINRA as a result of his obstruction of the investigation.

This is not the first time that Keener has been sanctioned by a securities regulator for misconduct. In particular, Keener has been fined $7,500.00 and suspended for two months from associating with any FINRA member in any capacity supported by findings that while associated with Stifel Nicolaus, Keener: (1) executed unauthorized trades in a customer’s account (2) placed the customer in investments that failed to be suitable and (3) mismarked customer order tickets. Letter of Acceptance Waiver and Consent No. 2007009431001. Keener’s conduct was violative of Rules 2110, 2510(b), 2310 and 3110. Keener has also been suspended by the State of Ohio Division of Securities supported by allegations of his unsuitable recommendations, exercise of discretion and unauthorized transactions. Case No. 10-079 11-011.

FINRA Public Disclosure confirms that Keener is referenced in five customer initiated investment related disputes that concern accusations of his violative conduct while he was associated with Stifel Nicolaus. Specifically, a customer initiated investment related complaint concerning Keener’s activities was resolved for $33,000.00 in damages founded on allegations that transactions executed by the stockbroker were unsuitable for the customer; and false or misleading statements had been made by Keener concerning corporate debt investments. Also, Keener is referenced in a customer initiated investment related written complaint which was settled for $12,000.00 based upon accusations that the customer was placed into investments which failed to be suitable given the customer’s objectives for investing or tolerance for risk.

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