Kevin Mark Nevin, of Edina, Minnesota, a stockbroker formerly registered with Dempsey Lord Smith LLC and Sandlapper Securities LLC, has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity supported by accusations that he failed to comply with FINRA’s requests for information in 2021 regarding the non-payment of a FINRA Arbitration Award. Case No. 2020066224901 (July 30, 2021).
FINRA Public Disclosure shows that Nevin was suspended as a stockbroker on July 30, 2021. At that time, Nevin was warned that his failure to comply with FINRA’s inquiry could result in harsher sanctions. The regulator provided Nevin with a July 29, 2021 deadline to request that his suspension be terminated or otherwise cooperate with FINRA’s request. He was automatically barred on July 30, 2021.
Nevin has been sanctioned by FINRA two more times. In one case, he was fined $37,000.00 and suspended for six months from associating with any FINRA member based on findings of his involvement in 11 private securities transactions involving private placements during the time that he was employed by VSR Financial Services. Letter of Acceptance, Waiver, and Consent No. 2012031950301. Nevin violated NASD Rule 3040 and 2110.
FINRA Public Disclosure shows that Nevin has been identified in five more customer initiated investment related disputes concerning allegations of his wrongdoing while employed by securities broker dealers, including VSR Financial Services Inc. Nevin is referenced in a customer initiated investment related FINRA securities arbitration claim which was resolved for $361,250.00 in damages based upon accusations of breach of fiduciary duty and violation of Minnesota Securities Act while he was associated with VSR Financial Services. The claim alleges misrepresentation and fraud pertaining to real estate securities, oil and gas securities, DPPs, and LPs.
Nevin is identified in a different customer initiated investment related FINRA securities arbitration claim where $50,000.00 in damages was requested by the customer supported by allegations of fraud and unsuitability pertaining to a promissory note when Nevin was registered with VSR Financial Services. The claim also contains accusations of breach of fiduciary duty and breach of contract relating to Breakwater Capital Group II LLC.
On March 30, 2020, another customer filed an investment related FINRA securities arbitration claim regarding Nevin’s conduct where they requested $400,000.00 in damages founded on allegations that they had been sold unsuitable investments including direct participation program interests and limited partnership interests during the time that Nevin was employed by Sandlapper Securities. FINRA Arbitration No. 20-00983 (March 30, 2020).
Nevin was registered with Dempsey Lord Smith between May 21, 2019, and February 2, 2021. He was discharged by the securities broker dealer based upon accusations of his unauthorized distribution of consolidated statements to customers. Nevin violated Dempsey Lord Smith’s procedures and policies.