WARNING! Investigation of KEN KAVANAGH of Morgan Stanley – New York, NY
Ken Kavanagh, previously with Morgan Stanley, Suspended 18 Months by FINRA
Have you lost money with financial advisor Ken Kavanagh? The law firm of Israels & Neuman is investigating allegations made about Ken J. Kavanagh from New York, New York. FINRA (the Financial Industry Regulatory Authority) suspended Kavanagh from the securities industry for 18 months and fined him $25,000. FINRA was investigating Kavanagh after he was alleged to have engaged in outside business activities without telling his former brokerage firm, Morgan Stanley.
Kavanagh began providing services to professional athletes, such as coordinating transportation and housing, making travel arrangements, recommending individuals to attorneys for wills and estate planning, and coordinating payments for clothing, cars, and insurance. Kavanagh was alleged to have earned about $5 million in these fees between 2007 and March 2018 without disclosing it to Morgan Stanley. Kavanagh created CEO Sports and MGMT LLC to provide these services.
Ken Kavanagh was a financial advisor and registered representative of Morgan Stanley from 2009 to May 2018. He worked in a branch office in New York, New York. He was allowed to resign by Morgan Stanley after it discovered this conduct.
Brokerage firms like Morgan Stanley, LPL, and First Financial Equity have a responsibility to adequately supervise all representatives who are registered through their firm. Brokerage firms also must take steps to ensure that their financial advisors follow all securities rules and regulations, as well as internal firm policies. When brokerage firms fail to adequately supervise their registered representatives, they may be liable for investment losses sustained by customers.
Israels & Neuman PLC is a securities and investment fraud law firm with offices in Denver, Colorado; Seattle, Washington; and Ann Arbor, Michigan. We represent investors in FINRA arbitration proceedings in all 50 states, including New York. Our attorneys have recovered millions of dollars for investors against many brokerage firms in the past, including against Morgan Stanley.
Click to view: Kavanagh, Ken FINRA AWC
Click to view: Kavanagh, Ken BrokerCheck 8.8.19
If you lost money with Ken Kavanagh or Morgan Stanley, please CONTACT US at 720-599-3505 for a free evaluation of your case.
Israels & Neuman, PLC is a private law firm and is not affiliated with any government or law enforcement agency. Any investigation referenced in this blog is independent in nature and is being conducted by our law firm privately, not in conjunction with any government or law enforcement agency. All information contained in this blog should be deemed statements of opinion derived from the author’s review of public records, not statements of fact. This blog is advertising material and does not create an attorney client relationship, nor does it constitute legal advice. Everyone’s situation is different and the question of whether or not you have a claim will vary on a case-by-case basis. In contingent representation, clients may still be liable for costs.