WARNING! Impending Investigation–RICHARD F. KENNY, JR. and LIGHTSPEED TRADING LLC
Richard F. Kenny, Jr. and Lightspeed Trading LLC
Have you lost money with financial advisor Richard F. Kenny, Jr.? We are investigating allegations made against Mr. Kenny. Richard Kenny Jr. was recently investigated by FINRA (the Financial Industry Regulatory Authority) for his involvement in private securities transactions while he was a registered representative of Lightspeed Trading LLC. FINRA’s investigation suggested that at least 21 persons (including customers of Lightspeed Trading) had money wired or transferred to or from accounts that were controlled by Mr. Kenny. It is apparent that Kenny did not get approval from Lightspeed Trading for these transactions. Moreover, Mr. Kenny has failed to respond to certain requests for information by FINRA. FINRA seeks to bar Kenny from the securities industry.
Richard F. Kenny Jr. was a financial advisor and registered representative of Lightspeed Trading from October 2010 to January 2014, as well as Terra Nova Trading from 2006 to October 2010. Kenny has worked in branch offices in Chicago and Las Vegas, Nevada.
Broker-dealers like Lightspeed Trading have a responsibility to adequately supervise all representatives who are registered through their firm, including investments sold by their registered representatives. Broker-dealers also must take steps to ensure that their financial advisors follow all securities rules and regulations, as well as internal firm policies. It is unlawful for an advisor to engage in private securities transactions without prior approval of his or her firm, because brokers who engage in unauthorized private securities transactions have higher incidents of fraud and/or theft.
When broker-dealers fail to adequately supervise their registered representatives, they may be liable for investment losses sustained by customers. Our firm has offices in Denver and the Seattle-area, but we continue to represent investors throughout the U.S. If you have lost money through Richard Kenny Jr. or Lightspeed Trading and want to hear about ALL legal options, please visit https://www.israelsneuman.com or call us at 720-599-3505.
Click here to view FINRA AWC regarding Richard F. Kenny Jr.: Kenny FINRA AWC