Investor Alert > Investor Loss Attorneys Investigate Unsuitability Allegations Concerning Barred Broker Kevin Gunnip
Posted Sep 20, 2020
by Alan Rosca

Investor Loss Attorneys Investigate Unsuitability Allegations Concerning Barred Broker Kevin Gunnip

Kevin Scott Gunnip investment recommendationsAllegations of unsuitability involving previously registered investment adviser, and currently barred broker Kevin Gunnip are under investigation by investor loss attorney and adjunct professor of securities regulation Alan Rosca.

Investor loss attorney Alan Rosca, of Rosca Scarlato LLC law firm is investigating conduct related to the bar of Kevin Scott Gunnip by FINRA from a regulatory action instituted against him on the allegations of his refusal to comply with their request to appear for on-the-record testimony. Investors who believe they suffered losses as a result of Gunnip’s investment recommendations may request a free consultation with an experienced securities lawyer at 888-998-0530, via email at arosca@rscounsel.law, or through the contact form on this page. 

Prior to this bar by FINRA, Kevin Gunnip was in the employment of Morgan Stanley and its predecessors. Gunnip was registered with Morgan Stanley DW starting March 1996 until April 2007, when he began his employment with Morgan Stanley & Co. Incorporated. This lasted until June 1st, 2009, when he started his registration with Morgan Stanley where he remained until March 22, 2018. The activities leading to investigation open against him by FINRA were carried out while he was in the employment of the firm. 

Kevin Gunnip Was Barred in Connection to His Alleged Unsuitable Short-Term Trading of Long-Term Securities

Publicly available information reviewed by attorney Rosca indicates that Kevin Scott Gunnip was barred by FINRA on 18th September, 2019. According to the reports on his FINRA brokercheck page, Gunnip was barred indefinitely in all capacities starting from 18th September, 2019. This bar was based on the allegation that former broker Kevin Gunnip refused to appear for on-the-record testimony as requested by FINRA in connection with an investigation initiated against him on the allegations that he engaged in unsuitable short term trading of long term securities. 

In the face of Gunnip’s refusal to comply with the request, the regulatory action was allegedly settled when Kevin Gunnip consented to an Acceptance, Waiver and Consent (AWC) letter. As a result of this, without admitting or denying the findings of the investigation, Gunnip allegedly consented to the sanctions which barred him indefinitely. 

Morgan Stanley Sanctioned for Failure to Supervise Kevin Gunnip

Morgan Stanley was also the subject of a regulatory action instituted by FINRA in connection with the investigation against Kevin Gunnip. The regulatory action was settled by Morgan Stanley through the signing of an AWC.

According to the AWC, Morgan Stanley allegedly failed to reasonably supervise a registered representative who recommended short term trades of corporate bonds and preferred securities in the accounts of ten customers in violation of NASD Rule 3010, FINRA Rule 3110 and FINRA Rule 2010. These alleged failure to supervise was based on activities carried out between January 2012 and December 2017. Without admitting or denying the findings, the firm allegedly consented to the following sanctions: a censure, the payment of a fine of $175,000 and the payment of restitution to the customers to the tune of $774,574.08.

Investors concerned about their investment with former Morgan Stanley broker Kevin Gunnip should discuss their case with a securities attorney. Call 888-998-0530, send an email at arosca@rscounsel.law, or leave a message through the contact form on this page for a free case evaluation of potential recovery options. 

Broker Kevin Gunnip lawsuitTexas Based Ex Broker Kevin Gunnip Involved in Customer Disputes Reported As Settled

The investor loss attorney Alan Rosca also found, as reported on Kevin Gunnip’s FINRA brokercheck page, that he was involved in customer disputes based on various allegations. A Gunnip customer settled a dispute on 8th August 2017 initiated on the allegation of excessive trading with respect to transactions made in their managed accounts between 2010 and 2014. The client sought to recover $2,000,000 in damages but the dispute was settled for $614,000.

Another Kevin Gunnip customer settled dispute earlier in 2017. The dispute shown as settled on 9th February 2017 was initiated on the allegation that some of the investments and trading were unsuitable. The client in this dispute requested $400,000 in damages but the dispute was eventually settled for $145,000. 

The earliest customer dispute settled by a Kevin Gunnip customer was reported on 24th June 2016. In this dispute, the client alleged that former Morgan Stanley financial advisor made unsuitable investment recommendations to them. As a result, the client requested $200,000 in damages but they eventually got $150,000 in settlement. 

Finally, it is important to note that, as of the date of this article, there has not been a finding of liability as to the complaints or allegations mentioned in this article, unless otherwise indicated. Any reader should also read the original sources hyperlinked in this blog for accuracy, including any BrokerCheck report and/or record of any disciplinary or regulatory action. Those sources are incorporated by reference into the text of this blog, and are the governing materials in case of any inconsistencies or typos in this blog.

Have You Suffered Losses As A Result of Kevin Gunnip’s Investment Recommendations? 

Investor loss attorneys at Rosca Scarlato LLC law firm have extensive experience in defending investor interests in cases ranging from arbitrations to class actions. They often represent victims of investment fraud or stockbroker misconduct, and are currently evaluating recovery options for investors who believe they suffered losses as a result of Kevin Gunnip‘s recommendations.

Typically, cases like these are taken on a contingency fee basis. The firm advances the case costs, and investors are required to reimburse it for the fees and costs only if there is a recovery. Kevin Gunnip investors who believe they lost money in connection with the allegations of unsuitable trading surrounding his bar, may contact attorney Alan Rosca for a free no-obligation evaluation of their recovery options, at 888-998-0530, via email at arosca@rscounsel.law, or through the contact form on this webpage.

Contact us. All evaluations are free

DISCLAIMER

In our legal system, every person is innocent until and unless found guilty by a court of law or a tribunal. Whenever we reference “allegations” or charges that are “alleged,” such allegations or charges have not been proven, and are merely accusations, not findings of fault, as of the date of the blog. We do not have, nor do we undertake, a duty to continue to monitor or follow matters about which we report, and/or to publish subsequent updates regarding various developments that may occur in such matters. Readers are encouraged to conduct their own research regarding any such matters and any developments that may or may not have occurred in such matters. Also, the Brokercheck report linked to some of our blogs is the up-to-date version as of the date of accessing by the reader. The information in our blogs is current as of the date of the drafting of the blog, and given that sometimes certain past complaints may no longer be listed in newer Brokercheck reports, some of the events referenced in some of our blogs may later on be removed from newer Brokercheck reports. Visitors may check the most recent version of each brokercheck report at www.finra.org, and may contact FINRA for the earlier version of the Brokercheck report upon which various blogs may be based.

If you believe you lost money as a result of investment-related fraud or misconduct, please contact our law firm for a free, no-obligation evaluation of your recovery options.

Contact us at 888‑998‑0530 or through the contact form on this page.
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