According to FINRA’s Disciplinary and Other FINRA Actions publication, Kevin Luby (CRD #4568246) was suspended for 10 months and fined $25,000 by FINRA, for failing to disclose to his member firms certain outside business activities he engaged in on behalf of an elderly firm customer.
FINRA alleged that from 2009 to 2013 Luby was a successor co-trustee of a customer’s trust and co-personal representative of her estate. Additionally, FINRA alleged that Luby also assisted this customer in the management of certain rental properties.
Luby failed to disclose the fiduciary appointments and involvement with the rental properties to one of his member firms, and failed to disclose his involvement with the rental properties to the other firm. Furthermore, FINRA affirms that Luby provided false answers on one of the firm’s compliance questionnaires and annual certifications regarding being named the beneficiary of any client’s estate or holding any fiduciary positions for a client.
According to FINRA’s Broker Check Luby is not currently licensed to act as a broker (buying or selling securities on behalf of customers) or as an investment advisor (providing advice about securities to clients). Luby’s suspension is in effect from January 20, 2015, through November 19, 2015. (See FINRA AWC No. 2013038108802)
Kevin Luby was previously registered with the following securities firms:
LPL FINANCIAL, LLC
CRD #6413
SOUTH DAYTONA, FL
03/2012 – 08/2013
STIFEL, NICOLAUS & COMPANY, INC.
CRD #793
DAYTONA BEACH, FL
08/2009 – 03/2012
UBS FINANCIAL SERVICES, INC.
CRD #8174
DAYTONA BEACH, FL
02/2007 – 08/2009
EDWARD JONES
CRD #250
ORMOND BEACH, FL
09/2002 – 02/2007
If you have suffered investment losses as a result of your broker’s or brokerage firm’s misconduct, contact the Hanley Law to discuss your legal options. The Hanley Law is dedicated to helping investors who have been victims of securities fraud. If you have lost money as a result of securities fraud, you may be entitled to recover your investment losses. Contact Hanley Law toll free at (239) 649-0050 for a complimentary initial consultation.