Mark Alan Kemp of Corpus Christi, Texas, a stockbroker currently registered with McNally Financial Services Corporation, is identified in a customer initiated investment related FINRA securities arbitration claim in which the customer requested $370,006.75 in damages based upon accusations of fraud and the violation of federal and Texas securities laws concerning mutual fund and direct investment transactions during the time that Kemp was employed by McNally Financial Services Corporation. Financial Industry Regulatory Authority (FINRA) Arbitration No. 21-01777 (July 20, 2021). According to the claim, Kemp misrepresented information in regard to alternative investments, including direct participation program interests and limited partnership interests. The claim also alleges breach of contract and breach of fiduciary duty.
Kemp has been identified in 10 more customer initiated investment related disputes containing allegations of his harmful activities while employed by Hornor Townsend Kent, Next Financial Group, Money Securities Corporation, and McNally Financial Services Corporation. FINRA Public Disclosure reveals that a customer initiated investment related arbitration claim involving Kemp’s conduct was settled to resolve accusations of unauthorized trading in a customer’s variable annuity when Kemp was associated with Next Financial Group.
Kemp is also the subject of a customer initiated investment related arbitration claim which was resolved for $145,000.00 in damages supported by allegations including unsuitable recommendations relating to mutual funds, stocks, bonds, life insurance, and annuities while Kemp was registered with Next Financial Group and Horner Townsend Kent. The claim also alleges that the customer was misled concerning investment strategies and that Kemp made unauthorized trades.
Another customer initiated investment related arbitration claim regarding Kemp’s activities was settled for $43,000.00 in damages founded on accusations of Kemp’s trading failing to align with the customer’s investment objectives, risk tolerance, and financial needs. According to the claim, Kemp’s unauthorized trading and unsuitable recommendations resulted in damages.
On December 20, 2018, an additional customer initiated investment related arbitration claim concerning Kemp’s conduct was resolved for $9,950.00 in damages based upon allegations of negligence and breach of fiduciary duty by Kemp while at McNally Financial Services Corporation. FINRA Arbitration No. 17-03103 (December 20, 2018). The claim alleges misrepresentation and fraud by the stockbroker, resulting in damages to the customer.
Kemp is also referenced in a customer initiated investment related arbitration claim where the customer sought between $100,000.00 and $500,000.00 in damages supported by accusations of Kemp misrepresenting information to the customer concerning investments at McNally Financial Services Corporation. FINRA Arbitration No. 19-00603. According to the claim, the customer was defrauded.
On May 4, 2021, another customer filed an investment related arbitration claim involving Kemp’s conduct, in which the customer requested between $100,000.00 and $500,000.00 in damages founded on allegations of fraud and breach of fiduciary duty concerning Kemp’s activities at McNally Financial Services Corporation. FINRA Arbitration No. 21-01067. According to the claim, Kemp made investment related misrepresentations. The claim also alleges negligence and fraudulent concealment.
Kemp has also been fined $5,000.00 and suspended from associating with any FINRA member in any capacity based upon findings that he mismarked customer order tickets during the time that he was employed by Next Financial Group.
Kemp has been registered with McNally Financial Services Corporation both as a stockbroker since April 5, 2010, and as an investment adviser representative since July 9, 2018.
