Robert J. Kerrigan, of Scottsdale, Arizona, a stockbroker with First Financial Equity Corporation, was permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member firm in any capacity after consenting to findings that he obstructed a FINRA investigation into his alleged misconduct. Letter of Acceptance, Waiver and Consent, No. 2015047151401 (May 11, 2016).
According to the AWC, FINRA started investigating Kerrigan amid allegations that he engaged in unauthorized outside business activities and private securities transactions. The AWC stated that on March 30, 2016, FINRA reached out to Kerrigan for documentation and information, per Rule 8210, in connection with the investigation.
The AWC noted that on April 18, 2016, Kerrigan informed FINRA that he received FINRA’s request, but stated that he would not be providing such information and documentation, or otherwise assisting FINRA at any point. FINRA found that Kerrigan’s failure to cooperate in this regard was violative of FINRA Rules 8210 and 2010, leading to his permanent bar.
Public disclosure records reveal that Kerrigan has been subject to seven disclosure incidents. On July 21, 1997, Kerrigan settled a customer dispute for $48,055.00 after a client alleged that costs associated with life insurance policies were not adequately disclosed. On April 18, 2001, Kerrigan settled a customer dispute for $9,131.71 after a client alleged a variable life insurance policy was misrepresented and that facts regarding such policy were not disclosed.
On January 27, 2005, Kerrigan was named in a customer dispute, where a customer requested $67,757.31 after alleging misrepresentation of variable life policies with regard to tax liability, financial security and other risks. Kerrigan was subject to another customer dispute on February 25, 2008, where a customer alleged misrepresentations associated with variable life policies.
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