Were you the victim of former Emerson Equity LLC broker James Kent Jr. (CRD# 2255753)? He has been registered with Emerson Equity LLC in San Mateo, California, from April to May 2021, when he was terminated regarding, “failure to disclose to the firm a felony DUI charge within 30 days of the event.” Previously, he was registered with Emerson Equity LLC in Pinellas Park, Florida, from 2016 to 2021. Prior to then, he was registered with the following brokerage firms,
- Newport Coast Securities, Inc. in Pinellas Park, Florida, from 2009 to 2016
- National Securities Corporation in Seminole, Florida, from March to April 2009
- Brecek & Young Advisors, Inc. in Seminole, Florida, from 2007 to 2008
- Brookstreet Securities Corporation in Seminole, Florida, from 2000 to 2007
- Palm State Equities, Inc. in Sun City Center, Florida, from 1998 to 1999
- First Southeastern Securities Group, Incorporated in Tampa, Florida, from 1996 to 1998
- Painewebber Incorporated in Weehawken, New Jersey, from 1994 to 1996
He was terminated from First Southeastern Securities Group, Inc. related to “alleged violation of NASD rule 3030 & violation of internal rules of first southeastern securities.” He was also terminated from Painewebber Incorporated related to “Paine Webber says that they feel that two accounts may have had commissions which were high relative to account equity.”
In March 1999, the NYSE Division of Enforcement charged him with, “i. Engaged in conduct inconsistent with just and equitable principles of trade by effecting trades in the accounts of one or more customers of his member organization employer which were unsuitable in view of the customer’s investment objectives, investment experience and financial resources, charge ii. Engaged in conduct inconsistent with just and equitable principles of trade by effecting trades in the account of a customer of his member organization employer which were excessive in size and frequency in view of that customer’s investment objectives, investment experience and financial resources, charge iii. Engaged in conduct inconsistent with just and equitable principles of trade by effecting an unauthorized trade in the account of a customer of his member organization employer, charge iv. Caused a violation of exchange rule 440, and regulation 240.17a-3 promulgated pursuant to the securities exchange act of 1934, by mismarking order tickets as “unsolicited”, and he is, therefore, subject to discipline pursuant to exchange rule.”
In December 1999, the Illinois Securities Department sanctioned him to pay a $500 fine related to, “the respondent’s salesperson registration in Illinois is subject to revocation, pursuant to an exchange hearing panel of the New York Stock Exchange, Inc. Accepted stipulation of facts and consent to penalty, file no. 99-85.”
In February 2021, FINRA sanctioned him to pay a $3,500 civil and administrative penalty and fine and suspended him for 30 days after he “consented to the sanctions and to the entry of findings that he failed to timely amend his Form U4 to disclose that he was the subject of a federal tax lien. The findings stated that the Internal Revenue Service (IRS) filed a notice of federal tax lien against Kent for $131,952.45 relating to four tax years. Kent worked with a certified public accountant to petition the IRS to remove the lien because he believed it had been filed in error. After Kent paid approximately $4,600, the IRS released the lien. Kent reported the lien on his Form U4 after FINRA inquired with his firm about it.”
In September 2021, FINRA suspended him for four months after he failed to respond to FINRA requests for information.
In July 2022, FINRA sanctioned him to pay a $5,000 civil and administrative penalty and fine and suspended him for eighth months after he “consented to the sanctions and to the entry of findings that he willfully failed to timely amend his Uniform Application for Securities Industry Registration or Transfer (Form U4) to disclose that he was charged with a felony. The findings stated that two days after being charged with the felony of driving under the influence (DUI), Kent updated his Form U4, which included disclosure of a past felony battery charge. Kent did not, however, disclose the felony DUI charge at that time or at any time thereafter. The findings also stated that Kent failed to timely produce information and documents requested by FINRA in connection with its investigation of his failure to disclose.”
James Kent Jr Customer Complaints
He has been the subject of seven customer complaints between 1996 and 2023, one of which was denied, according to his CRD report. The most recent complaints are regarding:
March 2023. “Violations of federal securities laws, fraud, violations of Georgia securities act, unsuitable recommendations, misrepresentations, omissions of material fact, breach of contract, common law fraud, breach of fiduciary duty, negligence and gross negligence.” The customer is seeking $90,000 in damages, and the case is currently pending.
November 2022. “Breach of fiduciary duty; Violation of FINRA/NYSE rules, Reg BI, Breach of contract and negligence, Violation of Florida Securities and Investor Protection Act, section 517, Fla Stat., Fraudulent inducement to hold investment.” The customer is seeking $220,000 in damages, and the case is currently pending.
July 2022. “Suitability, Misrepresentations and Omissions, Violations of FINRA Rules.” The customer is seeking $190,000 in damages, and the case is currently pending.
April 2022. “Violations of Federal Securities Laws; Breach of contract; Common law fraud; Breach of fiduciary duty; Negligence and gross negligence.” The customer sought $600,000 in damages, and the case was settled for $263,476.56.
Pursuant to FINRA Rules, member firms are responsible for supervising a broker’s activities during the time the broker is registered with the firm. Therefore, Emerson Equity LLC may be liable for investment or other losses suffered by James Kent Jr’s customers.
Erez Law represents investors in the United States for claims against brokers and brokerage firms for wrongdoing. If you have experienced investment losses, please call us at 888-840-1571 or complete our contact form for a free consultation. Erez Law is a nationally recognized law firm representing individuals, trusts, corporations and institutions in claims against brokerage firms, banks and insurance companies on a contingency fee basis.
"*" indicates required fields