Financial Industry Regulatory Authority (FINRA) BrokerCheck reveals disclosures about securities broker Seth McKinney (CRD: 5832597, Houston, Texas). McKinney has a 12-year career in the securities industry, working with firms such as FHN Financial Securities Corp. (2017-2023) and Coastal Securities Inc. (2013-2017).
Recent disclosures indicate that McKinney has been suspended by FINRA due to unauthorized participation in private securities transactions totaling $2 million.
On July 25, 2024, FINRA initiated regulatory action against McKinney (Docket No. 2022076766901) concerning violations related to private securities transactions. Without admitting or denying the findings, McKinney consented to FINRA's sanctions. According to the findings, he participated in private securities transactions without disclosing them to his member firm or obtaining approval.
McKinney established an entity to purchase a commercial property in Georgia, raising $600,000 from eight investors through a private offering. He personally invested $91,515. Subsequently, he formed another entity to acquire a commercial property in Illinois, raising $1.4 million from 12 investors through another private offering, with a personal investment of $91,000.
In addition to investing his own funds, McKinney and his business partner solicited investments, drafted marketing materials, and executed subscription agreements on behalf of the entities. The entities charged a 1% management fee, with McKinney receiving 65% of the fee.
As a result of these actions, FINRA imposed a $10,000 fine and an 18-month suspension (August 5, 2024 - February 4, 2026).
McKinney is currently not registered as a securities broker. His suspension prohibits him from acting in any registered capacity during the designated period. Investors should carefully evaluate any prior or ongoing dealings with McKinney and exercise due diligence when engaging with financial professionals.
Looking for more information about Seth McKinney? If so, reach out to Soreide Law Group online or at (888) 760-6552 to speak with a securities attorney. Soreide Law Group works on a contingency basis, advances all costs, and assists clients throughout the United States with recovering losses from sales practice misconduct. McKinney and the firms he worked for deny accusations of sales practice violations.
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