Erez Law is interested in speaking with investors who may have suffered losses due to investments with former Sandlapper Securities, LLC broker Kevin Nevin (CRD# 2460059). Nevin has been registered with Dempsey Lord Smith, LLC in Edina, Minnesota since May 2019. Previously, Nevin was registered with Sandlapper Securities, LLC in Edina, Minnesota from 2015 to 2019.
In June 2014, Nevin was sanctioned by FINRA to a $37,000 civil and administrative penalty and fine and was suspended for six months after he consented to the sanctions and to the entry of findings that his customers at his member firm invested a total of $690,000 in private placements. According to the FINRA findings, “these transactions were made directly with the issuer, and the firm had no involvement. Nevin recommended or otherwise facilitated all of these transactions. For Nevin’s role in the transactions, he received a total of approximately $37,000 in commissions. The findings also stated that Nevin did not give his firm prior written notice of his customers’ intended investments in the private placements. As a result, the firm never approved Nevin’s participation in those transactions, did not record any of the transactions on its books and records, and did not supervise Nevin’s activity with respect to the transactions.”
Nevin has been the subject of six customer complaints between 2010 and 2020, one of which was withdrawn, according to his CRD report. Recent complaints are regarding:
- March 2020. “Unsuitable Investments.” The customer is seeking $400,000 in damages and the case is currently pending. The complaint took place while Nevin was registered with Sandlapper Securities and was regarding direct investments and LP interests.
- September 2016. “Unsuitability, Common Law Fraud, Breach of Contract, Breach of Fiduciary Duty.” The customer is seeking $50,000 in damages and the case is currently pending. The complaint took place while Nevin was registered with VSR Financial Services and was regarding Breakwater Capital Group II LLC and promissory notes.
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, Sandlapper Securities, LLC may be liable for investment or other losses suffered by Nevin’s customers.
Erez Law represents investors in the United States for claims against brokers and brokerage firms for wrongdoing. If and 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.