Allegations of Excessive Trading and Unsuitable Investment Recommendation for Merrill Lynch Broker Charles Kenahan

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According to FINRA public records, broker Charles Ernest Kenahan has three disclosed customer disputes.  FINRA (Financial Industry Regulatory Authority, Inc.) registers and regulates brokers and brokerage firms.

Customers filed the disputes against Kenahan between February 2018 and May 2018.  All claims are pending and allege excessive trading and unsuitable investment recommendations.  The most recent claim requests damages of $700,000.

Brokers generally earn transactional fees on their customers’ trades.  Due to these fees, a broker can cause his customer significant losses by recommending or placing excessive volumes of trades.  Rules require brokers to recommend only suitable investment strategies to their customers, which requires brokers recommend or place only appropriate volumes of trades that avoid excessive fees.

Additionally, brokerage firms owe customers a duty to closely supervise their brokers to ensure they do not commit violations, such as placing excessive trades.  Firms may be found liable for any such excessive trading commissions and fees.

Charles Kenahan has worked at Merrill Lynch since December 2007.  He is currently registered as both a broker and investment advisor and holds licenses in twenty states.

If you have questions about investments made with Charles Kenahan, contact Marquardt Law Office LLC for a free phone consultation.

Marquardt Law Office LLC is a securities law firm that represents investors nationwide who have suffered losses due to misconduct such as fraud and negligence.

Information regarding Charles Ernest Kenahan was obtained from FINRA BrokerCheck records accessed on July 7, 2018

Adam J. Marquardt

Adam Marquardt represents investors in securities litigation claims such as unsuitable investments, negligence, and fraud. He is dedicated to recovering financial losses for investors, primarily through FINRA arbitration. Adam’s background includes experience as a FINRA regulator, an accountant and auditor, and an attorney who recovered $8 million litigating cases involving fraudulent financial practices. Adam is a certified public accountant and attorney licensed in Illinois.

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