FINRA Permanently Bars Honetta C. Kao After Allegations of Unauthorized Trading and Mishandled Accounts

Numerous customer complaints surface over the course of his work history with various firms

On August 4, 2015, Honetta C. Kao was suspended by the FINRA for failure to respond to their request for information. And in November, he was permanently barred from acting as a broker or otherwise associating with firms that sell securities to the public.

Kao’s industry experience incudes ten different firms and on record, dates back to 2005 when he worked for Custom Capital Corporation in Brooklyn, New York. Accused of mishandling accounts, giving bad investment advice, making unsuitable recommendations and unauthorized trades, Kao racked up numerous customer complaints and damages while working at Meyers Associates, L.P. and Caldwell International Securities, both in New York.

Kao worked for various other firms during his more than a decade in the industry, including Buckman, Buckman and Reid, Rockwell Securities and John Thomas Financial, all in New York. In addition to the allegations for misconduct and unauthorized trading, he is accused of willfully violating the Securities Exchange Act of 1934, which requires a mandatory disclosure process that is designed to ensure that companies make public the information investors need to make informed investment decisions.

Since being barred by the FINRA, Kao is unable to work in the industry and should not be offering his services to anyone as a stockbroker.

If you have suffered financial loss after working with Kao or any other financial advisor accused of misconduct, it’s advisable that you seek the services of an experienced securities attorney.

The attorneys at Silver Law Group are industry leaders in the field of FINRA and securities arbitration, representing individual and institutional investors nationwide who have lost money at the hands of trusted financial advisors. Our services are on a contingency-fee basis, which means we are only compensated if there is a recovery of losses. Contact us today for a complimentary consultation.