According to a recent Letter of Acceptance, Waiver and Consent (AWC) with the Financial Industry Regulatory Authority (FINRA), Kevin Jedlicka allegedly violated securities laws. Mr. Jedlicka was previously registered through Chapin Davis. Allegedly, between January 30th, 2015 and January 22nd, 2016, he engaged in a pattern of unsuitable short-term trading of Class A mutual fund shares and Unit Investment Trusts (UITs) in customer accounts. This led to his suspension from the industry for six months. It was against securities laws and internal firm rules. UITs tend to be high-risk and illiquid investments that are not suitable for all investors, and a broker has a duty to only recommend and sell those securities that are suitable for the investor based on his age, net worth, investment objectives and investment sophistication. If he does not, his brokerage firm can be held liable for losses.
According to his online, FINRA BrokerCheck report, Mr. Jedlicka was previously registered with Alex Brown & Sons Inc., Global Financial Group, Dean Witter Reynolds, First Union Brokerage Services, Wells Fargo, Chapin, Davis in Baltimore, Maryland from October 2010 until July 2013, BB&T Securities, Chapin, Davis in Baltimore from January 2015 until February 2016 and Capital Portfolio Management. He is not currently registered as a broker.
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