Publicly available records provided by the Financial Industry Regulatory Authority (FINRA) indicate that broker/advisor, Kevin David Barton (CRD # 2542056) was recently suspended from the securities industry by FINRA’s Department of Enforcement after an investigation into various sales practice violations.
The Law Office of Kevin J. Deloatch, Esq. is interested in speaking to investors who have complaints regarding Mr. Barton.
Registration Background for Kevin Barton
Mr. Barton first became registered in the securities industry in 1994. He is currently registered with Vista, CA based Crown Capital Securities, L.P. (CRD # 6312). His prior registrations include WM Financial Services, Inc. (CRD # 599) from January 1999 to February 2001, Griffin Financial Services (CRD # 10823) from August 1996 to January 1999 and Wells Fargo Securities, Inc. (CRD # 17438) from September 1994 to July 1996.
FINRA’s Allegations Against Kevin Barton
According to FINRA Letter of Acceptance, Waiver and Consent (AWC) dated April 27, 2021, Mr. Barton consented to, without either admitting to or denying, the following findings by FINRA’s Department of Enforcement:
- “[Mr.] Barton participated in an outside business activity without prior written notice to the firm”;
- “In December 2016, [Mr.] Barton signed an employment agreement with “ZM,” a California corporation, and was its sole employee”;
- “[Mr. Barton] omitted it from a disclosure form he completed in December 2017, and only disclosed it to [Crown Capital Securities, L.P.] in November 2018, approximately 22 months after his employment began”;
- “From June 2016 to May 2019, on approximately 15 days, [Mr.] Barton exercised discretion without prior written authorization in four fee-based accounts maintained by four customers, including two seniors”;
- “[T]he customers did not provide written authorization for [Mr.] Barton to exercise discretion nor did they always speak with [Mr.] Barton on the days he effected trades in their accounts”;
- “From June 2016 to May 2019, in the same four customer accounts, [Mr.] Barton marked approximately 80 order tickets as unsolicited when the trades were solicited as a result of his exercising discretion in these accounts”; and
- By virtue of his actions, Mr. Barton violated FINRA Rule 3270, regarding outside business activities; NASD Rule 2510(b) and FINRA Rule 3260 regarding discretionary accounts; FINRA Rule 4511 regarding preserving books and records; and FINRA Rule 2010, regarding standards of commercial honor and principles of trade.
FINRA Sanctions Kevin Barton from Securities Industry
As a result of such violations and in addition to the above described findings and conclusions, FINRA’s April 27, 2021 AWC also indicates that Mr. Barton consented to the following sanction(s):
- A four-month suspension from association with any FINRA member in all capacities; and
- A fine in the amount of $17,000.00.
Kevin Barton Has No History of Securities Industry Customer Complaints
In addition to Kevin Barton being suspended by FINRA from the securities industry for various sales practice violations, FINRA BrokerCheck for Mr. Barton reveals that he has no history of customer complaints and/or customer-initiated arbitrations.
If you or someone you know has or had a brokerage account with Kevin David Barton and have concerns regarding losses in your investments or possible sales practice violations including 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.