Mark Alan Kemp of Corpus Christi Texas a stockbroker and investment advisor representative currently registered with McNally Financial Services Corporation is the subject of a customer initiated investment related arbitration claim in which the customer requested $100,000.00 in damages based upon accusations that misrepresentations had been made by the stockbroker and that the customer was defrauded. Financial Industry Regulatory Authority (FINRA) Arbitration No. 19-00603 (Feb. 27, 2019).
Kemp has been identified in eight more customer initiated investment related disputes containing allegations of his misconduct while employed with Mony Securities Corp, Hornor Townsend Kent, Next Financial Group and McNally Financial. FINRA Public Disclosure confirms that Kemp is referenced in a customer initiated investment related civil action that was resolved for $345,000.00 in damages founded on accusations of Kemp’s fraudulent sale of securities and his false representations to the Money Securities Corporation customer.
Another customer filed an investment related civil action involving Kemp’s conduct which was settled for $1,133,000.00 in damages supported by allegations of false representations and fraud in regard to World Home Industries securities sold to the Mony Securities Corp customer.
Another customer initiated investment related arbitration claim involving Kemp’s conduct was resolved for $145,000.00 in damages based upon accusations of unsuitable and unauthorized purchases of mutual funds and stocks. The claim alleges that the customer’s investment instructions had been disregarded and that the customer had been misled regarding the strategy used at Hornor Townsend Kent.
Kemp is the subject of another customer initiated investment related arbitration claim which was settled for $43,000.00 in damages founded on allegations that the customer had been sold stocks and other securities which did not align with the customer’s financial situation, objectives for investing and the customer’s tolerance for risk. According to the claim, transactions were executed without the customer’s consent.
On December 20, 2018, a customer initiated investment related arbitration claim involving Kemp’s activities was resolved for $9,950.00 in damages supported by accusations of negligence and the sale of fraudulent investments to the customer during the period in which Kemp was associated with McNally Financial. FINRA Arbitration No. 17-03103 (Dec. 20, 2018). The claim alleges that a fiduciary duty that was owed to the customer had been breached and that misrepresentations were made by the stockbroker.