Investors File Disputes About Mark Kemp

Soreide Law Group is investigating possible investor claims against securities broker Mark Kemp AKA Mark Alan Kemp [CRD#: 2057200, Corpus Christi, TX]. Specifically, Financial Industry Regulatory Authority (FINRA) BrokerCheck discloses that investors disputed the sales practices of the securities broker, who worked for McNally Financial Services Corp. Evidently, investors allege sales practice violations in these disputes, including that Kemp made unsuitable recommendations. Here is a brief summary of the disclosures about Kemp.

McNally Financial Services Corp. Investor Accuses Kemp Of Unsuitable Recommendations

Evidently, on March 31, 2022, a McNally Financial Services Corp. client filed FINRA Arbitration #: 22-00728 about Mark Kemp. Namely, the client alleged that Kemp made unsuitable recommendations. Because of this, the client sustained damages on reverse convertible securities. Therefore, the client requested $157,600 in compensation from McNally Financial Services Corp. or Kemp. Evidently, this arbitration is pending a resolution.

McNally Financial Services Corp. Investor Accuses Mark Kemp Of Breach Of Contract

Also, a client of McNally Financial Services Corp. contested Mark Kemp’s sales practices by filing FINRA Arbitration #: 21-01777 on July 14, 2021. Allegedly, Kemp violated securities laws, acted unethically, made misrepresentations, breached a fiduciary duty, and breached a contract. Supposedly, the DPPs, LPs, and mutual funds which Kemp sold or recommended had caused the client to sustain damages. Therefore, the client seeks compensatory relief from McNally Financial Services Corp. or Kemp in the amount of $370,006.75 in this ongoing matter.

Kemp Discloses Misrepresentation Allegations By McNally Financial Services Corp. Client

Evidently, on April 23, 2021, a McNally Financial Services Corp. client filed FINRA Arbitration #: 21-01067 about Mark Kemp. Notably, the client alleged that Kemp acted unethically, made misrepresentations and omissions, breached a fiduciary duty, and was negligent. Because of this, the client sustained damages. Therefore, the client requested $100,000 in compensation from McNally Financial Services Corp. or Kemp. Evidently, this arbitration is pending a resolution.

McNally Financial Services Corp. Investor Accuses Mark Kemp Of Misrepresentation

Also, a McNally Financial Services Corp. client filed FINRA Arbitration #: 17-03103 about Mark Kemp. Namely, the client alleged that Kemp acted unethically, made misrepresentations, breached a fiduciary duty, and was negligent. Because of this, the client sustained damages. Therefore, on December 20, 2018, McNally Financial Services Corp. settled this matter by paying the client $9,950.

Kemp Discloses Unauthorized Transactions Accusations By Hornor Townsend Kent and Next Financial Group Client

Also, a client of Hornor Townsend Kent and Next Financial Group contested Mark Kemp’s sales practices by filing FINRA Arbitration #: 09-05086. Allegedly, Kemp made unauthorized transactions and unsuitable recommendations. Supposedly, the variable annuities, equities, and mutual funds which Kemp sold or recommended had caused the client to sustain damages. Therefore, Hornor Townsend Kent and Next Financial Group opted to settle the matter on September 13, 2010 by compensating the client in the amount of $43,000.

FINRA Sanctions Kemp

Supposedly, in November 2019, while he was associated with NEXT Financial Group Inc., Kemp mismarked seven penny stock order tickets as unsolicited, as opposed to solicited. Kemp’s conduct caused NEXT Financial’s records and books to be inaccurate, which is a violation of the Securities and Exchange Act of 1934. As a result, Kemp violated FINRA Rules 2010 and 3110.

Damages Resulting From McNally Financial Services Corp. Securities Broker Mark Kemp?

Have you experienced damages because of investing through Mark Kemp? If so, contact Soreide Law Group at (888) 760-6552 to talk with a securities lawyer about a possible recovery of your investment losses. v successfully recovered money for investors throughout the United States. The firm represents clients on a contingency fee basis and advances all costs. Kemp and brokerage firms Kemp was employed by deny any and all allegations of sales practice violations.