gavel on money

Kevin Kimball Meadows of Liverpool New York a stockbroker formerly registered with First Allied Securities and Cape Securities is referenced in a customer initiated investment related written complaint on April 30, 2020 where the customer requested $168,000.00 in damages based upon allegations that transactions executed in the First Allied Securities customer’s account were not suitable and that a fiduciary duty that was owed to the customer had been breached.

According to the complaint, unauthorized trades were effected in the customer’s account. The complaint also alleges that the customer was advised by Meadows to invest in unsuitable stocks and that the customer loaned funds to the stockbroker that were not repaid.

Meadows has been identified in five additional customer initiated investment related disputes regarding accusations of his misconduct while employed by securities broker dealers including JC Bradford Co. and UBS Financial Services. FINRA Public Disclosure reveals that a customer initiated investment related complaint involving Meadows’ conduct was settled for $7,826.57 in damages founded on allegations that Unsuitable over-the-counter equities trades were recommended to the JC Bradford customer by Meadows in breach of fiduciary duty.

Another customer filed an investment related complaint regarding Meadows’s activities in which the customer requested unspecified compensatory damages supported by accusations that excessive trades were executed in the customer’s account while Meadows was registered with UBS Financial Services. According to the claim, Meadows churned the customer’s account. The claim also alleges that money was borrowed by Meadows to purchase mutual funds and that the customer’s accounts were traded by Meadows on a discretionary basis.

Meadows is also the subject of a customer initiated investment related written complaint where the customer requested unspecified damages based upon allegations of theft by the stockbroker while registered with UBS Financial Services. Another customer initiated investment related arbitration claim concerning Meadows’s activities was resolved for $50,000.00 in damages founded on accusations of unauthorized margin use and unauthorized trading of over-the-counter equities in the customer’s UBS Financial Services customer’s account.

Meadows has also been suspended for three months from associating with any FINRA member in any capacity supported by findings that he effected unsuitable trades in an elderly Cape Securities customer’s account. Letter of Acceptance Waiver and Consent No. 2018057846301 (Jan. 28, 2020). According to the AWC, the customer sustained $39,671.00 in losses because of Meadows’s excessive trading. FINRA determined that the customer’s accounts experienced cost-to-equity ratios that were as high as 53 percent and annual turnover rates exceeding 10. Meadows’s trading conflicted with the customer’s objectives for investing and financial circumstances. He violated FINRA Rules 2111 and 2020 in this respect.

Meadows was registered with Cape Securities until December 31, 2017. He was registered with IBN Financial Services Inc. between May 17, 2018 and February 15, 2020.