Were you the victim of McNally Financial Services Corporation broker Mark Kemp (CRD# 2057200)? Mark Kemp has been registered with McNally Financial Services Corporation in Corpus Christi, Texas since 2010. Previously, Mark Kemp was registered with Next Financial Group Inc. in Corpus Christi, Texas from 2008 to 2009, when he was terminated regarding, “solicitation of penny stock in violation of firm policy and failure to observe high standards of commercial order and equitable principal trade.”
In 2012, FINRA suspended Mark Kemp for four days and sanctioned him to pay a $5,000 civil and administrative penalty and fine after it was found that Mark Kemp mismarked seven order tickets for a penny stock as unsolicited when in fact they were solicited.
Mark Kemp Faces Multiple Customer Complaints
Mark Kemp has been the subject of 11 customer complaints between 1998 and 2021, according to his CRD report. The most recent complaints are regarding:
- July 2021. “Violation of equitable principles of trade and fair dealing, violation of Securities Act of 1933, Violation of Securities Exchange Act of 1934, Violation of Texas Securities Act, Common Law Fraud, Fraud in the Inducement, Fraud under Section 27.01 of the Texas Business and Commerce Code, Negligent Misrepresentation, Breach of Fiduciary duty, Breach of Contract, and Participatory and Vicarious Liability.” The customer is seeking $370,006.75 in damages and the case is currently pending. The complaint was regarding direct investments and mutual funds.
- May 2021. “Violation of Common Law Fraud, Fraudulent Concealment, Violation of Common Negligent Misrepresentation, Breach of Fiduciary Duty and Negligence.” The customer is seeking $100,000 in damages.
- February 2019. “Violation of Common Law Fraud, and Violation of Common Negligent Misrepresentation.” The customer is seeking $100,000 in damages.
- November 2017. “Violation of common law fraud, violation of negligent misrepresentation, breach of fiduciary duty and negligence.” The customer sought $100,000 in damages and the case was settled for $9,950.
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, McNally Financial Services Corporation may be liable for investment or other losses suffered by Mark Kemp’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.