Kimberly Pine Kitts, of Palmer, Massachusetts, a stockbroker formerly employed with Royal Alliance Associates, Inc., has been suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity supported by allegations that she failed to abide by FINRA’s request of furnishing information relating to Kitt’s business activities. Case No. 2017056380201 (Jan. 2, 2018).
FINRA Public Disclosure reveals that Kitts has been referenced in four customer initiated investment related disputes pertaining to accusations of Kitts’ violative conduct while associated with Royal Alliance Associates, Inc. Specifically, on April 17, 2008, a customer filed an investment related written complaint involving Kitts’ conduct, where the customer requested $180,000.00 in damages founded on allegations that Kitts failed to execute the customer’s order to liquidate mutual fund investments from the customer’s investment portfolio.
On June 22, 2010, another customer filed an investment related written complaint regarding Kitts’ activities, in which the customer sought $44,000.00 in damages based upon accusations that Kitts inappropriately executed an exchange of the customer’s annuities, causing the customer to sustain losses on her account values while also foregoing a death benefit.
Thereafter, on April 10, 2012, a customer brought an investment related written complaint involving Kitts’ conduct, where the customer requested $24,778.00 in damages supported by allegations that Kitts made unsuitable investment recommendations to the customer in regard to an equity investment strategy. Moreover, on November 7, 2017, a customer filed an investment related written complaint pertaining to Kitts’ activities, alleging that Kitts misappropriated or converted the customer’s funds.
Indeed, on November 15, 2017, Royal Alliance Associates, Inc. fired Kitts founded on accusations cited by a customer’s attorney of Kitts’ misappropriation or conversion of the customer’s funds.
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