Publicly available records recently provided by the Financial Industry Regulatory Authority (FINRA) indicate that broker/advisor Clint H. Keener (CRD # 2250146), formerly with Powell, OH based Capital City Securities, LLC (CRD # 146001) was recently barred from the securities industry by FINRA’s Department of Enforcement amidst an “investigation into potential unsuitable recommendations.” The Law Office of Kevin J. Deloatch, Esq. is interested in speaking to investors who have complaints regarding Mr. Keener.
Registration Background for Clint H. Keener
Mr. Keener became registered in the securities industry in 1996 and had been registered with Capital City Securities, LLC from May 2012 to October 2019. His prior registrations included WRP Investments, Inc. (CRD # 7365) from March 2009 to May 2012 and Stifel, Nicholas & Company, Incorporated (CRD # 793) from November 2001 to October 2008.
FINRA’s Finding and Conclusions
According to FINRA Letter of Acceptance, Waiver and Consent (AWC) dated November 12, 2019, Mr. Keener consented to, without either admitting to or denying, the following findings by FINRA’s Department of Enforcement:
- In 2019, FINRA commenced an investigation into potential unsuitable recommendations by Keener;
- In furtherance of the investigation, FINRA sent a request to Keener on September 24, 2019, pursuant to FINRA Rule 8210, requesting on-the-record testimony;
- In an October 4, 2019 email from Keener’s counsel, Keener acknowledged receipt of FINRA’s September 24, 2019 request and indicated that he would not appear for on-the-record testimony; and
- By refusing to appear for on-the-record testimony, Keener violated FINRA Rule 8210 and FINRA Rule 2010.
FINRA Sanctions Clint H. Keener
As a result of such violations and in addition to the above described findings and conclusions, FINRA’s November 12, 2019 AWC also indicates that Mr. Keener consented to the following sanction:
- Being barred from association with any FINRA member firm in any and all capacities.
Clint H. Keener was the Subject of Previous Securities Regulatory Actions
In addition to the above, according to FINRA BrokerCheck for Mr. Keener, he has been the subject of previous actions brought by securities regulators.
On July 13, 2010, Keener entered into AWC 2007009431001 with the NASD, in which he was fined $7,500.00 and suspended in all capacities for two months. The AWC was entered into after the NASD commenced an investigation and made the following findings against him:
- unsuitable recommendations;
- mismarking order tickets as “unsolicited” when they were actually solicited;
- exercising discretion in the accounts of various customers when he did not have written authorization from any of the customers or from his member firm; and
- violations of NASD Rules 2310, 2110 and 3110.
On October 15, 2010 the State of Ohio Department of Commerce Division of Securities, upon stipulation on consent, suspended Keener from the securities industry in all capacities for 10 days, indicating:
- violation of O.R.C. 1707.19(A)(4);
- violation of O.R.C 1707.19(A)(1); and
- [Keener] was not of good business repute as set forth in O.R.C. 1707.19(A)(1).
Clint H. Keener has a History of Customer Complaints
In addition to the above findings in the November 12, 2019 AWC and previous regulatory actions, FINRA BrokerCheck for Clint H. Keener reveals he has a history of securities related customer complaints.
On January 13, 2006, a customer initiated a complaint involving Mr. Keener, alleging damages in the amount of $19,160.00 for unsuitable investments. The complaint was settled on July 19, 2006 in the amount of $12,000.00.
On December 29, 2005, a customer initiated a complaint involving Mr. Keener. More specifically, the customer alleged they sustained losses in the amount of $75,744.41 because they “were mislead about the risks associated with their investments.” The complaint was settled in the amount of $33,000.00, in which Mr. Keener was required to contribute $33,000.00.
If you or someone you know has or had a brokerage account with Clint H. Keener and have concerns regarding losses in your investments or possible fraud, you may be entitled to recover lost funds. The Law Office of Kevin J. Deloatch, Esq. has an extensive securities law practice and over 30 years of experience on Wall Street. Call today at (646) 792-2156 for a free consultation. The time to file your claim may be limited so you should call today to avoid delay.