In a recent development, Kay Johnson, a broker associated with ONESOURCE FI LLC (CRD 310933) and ALLIED MILLENNIAL PARTNERS, LLC (CRD 16569), has been named as one of 17 respondents in a pending customer dispute alleging failure to supervise. The disclosure, dated January 8, 2024, involves equity listed (common & preferred stock) products, with the damage amount requested undisclosed at this time. Bad financial advice and investment fraud are serious issues that can have devastating consequences for investors.
The allegation against Kay Johnson and the other respondents centers around the failure to supervise, a serious breach of duty in the financial industry. According to FINRA Rule 3110, firms and their associated persons must establish and maintain a system of supervision that is reasonably designed to achieve compliance with applicable securities laws and regulations, as well as FINRA rules. This includes the establishment, maintenance, and enforcement of written procedures to supervise the activities of each associated person.
The pending customer dispute against Kay Johnson and the other respondents is a matter of significant concern for investors. Failure to supervise can lead to a range of misconduct, from unsuitable investment recommendations to fraud, resulting in substantial financial losses for clients. Investors rely on the diligence and oversight of financial professionals to protect their interests and ensure that their investments are handled appropriately.
Investors who suspect they have been victims of financial advisor malpractice should be aware of red flags, such as unauthorized transactions, inconsistent or excessive trading, and a lack of communication from their advisor. If any of these warning signs are present, investors should promptly report their concerns and explore their options for recovering losses.
Haselkorn & Thibaut, a national investment fraud law firm with offices in Florida, New York, North Carolina, Arizona, and Texas, is currently investigating Kay Johnson and the associated firms. With over 50 years of combined experience and a 98% success rate, Haselkorn & Thibaut has a proven track record of helping investors recover losses through FINRA arbitration.
FINRA arbitration provides a forum for investors to seek resolution and potential recovery of damages from disputes with financial advisors and firms. By filing a claim with FINRA, investors can present their case before a neutral panel of arbitrators who will hear the evidence and render a binding decision.
Haselkorn & Thibaut offers free consultations to clients and operates on a “No Recovery, No Fee” basis, ensuring that investors can pursue their claims without upfront costs. If you believe you have suffered losses due to the misconduct of Kay Johnson or any other financial advisor, contact Haselkorn & Thibaut at their toll-free number, 1-888-628-5590, to discuss your situation and potential legal options.
As the investigation into the allegations against Kay Johnson and the other respondents unfolds, it is crucial for investors to remain vigilant and proactive in protecting their rights and interests. By working with experienced legal professionals like those at Haselkorn & Thibaut, investors can navigate the complex process of FINRA arbitration and work towards recovering any losses resulting from financial advisor malpractice.
