We previously reported on broker Kevin Richard Wilson (CRD #326701), who had two customer disputes filed in 2018. He is currently employed with Worden Capital Management, LLC (CRD#: 148366) of New York, NY. He has been in the industry since 1999.
Since our previous report, there have been six more disputes with allegations of unsuitability and over-concentration. Two were settled, and four are listed as “pending.”
The most recent, filed on 7/21/2020, was settled for $62,500; the client requested damages of $130,000.
Another dispute filed on 11/27/2018 requested damages of $500,000 and settled for $85,000. The client alleged unsuitable recommendations from 2014 through 2017. Wilson denies the allegation, calling it “baseless.”
The remaining four disputes were filed from 4/8/2019 through 11/5/2019, with total requested damages of $4,430,405.00.
Founded in 1947 and headquartered in Seattle, Washington, National Securities Corporation has underwritten many securities offerings. Some of the companies that National Securities underwrote have failed to provide a return for investors. Investors have pursued claims against National Securities and other brokerage firms alleging negligence, breach of fiduciary duty and failure to supervise.
Have You Invested With Kevin Wilson?
FINRA Notice to Member (NTM) 12-17 reminds broker-dealers of their obligations with respect to cold calling. First it reminds them of NASD Rule 2212 (now FINRA Rule 3230)and NYSE Rule 440A. NASD Rule 2212 and NYSE Rule 440A are similar rules that require member firms to maintain and consult do-not-call lists, limit the hours of telephone solicitations and prohibit members from using deceptive and abusive acts and practices in connection with telemarketing. The SEC directed FINRA and NYSE to adopt these telemarketing rules in accordance with the Telemarketing Consumer Fraud and Abuse Prevention Act of 1994 (Prevention Act). If you have been the victim of a cold call, we may be able to help you recover losses.
Silver Law Group represents investors in securities and investment fraud cases. Our lawyers are admitted to practice in New York and Florida and represent investors nationwide to help recover investment losses due to stockbroker misconduct. If you have any questions about how your account has been handled, call to speak with an experienced securities attorney. Most cases are handled on a contingent fee basis, meaning that you won’t owe us until we recover your money for you. Contact us today and let us know how we can help.