According to FINRA’s Disciplinary and Other FINRA Actions publication, Roger Kumar Jr. (CRD No. 2702488) was fined $50,000.00 and suspended by FINRA for one year after he allegedly made misleading and inaccurate statements to numerous corporate bond dealers so that he could participate in and obtain allocations of bonds for an unregistered proprietary trading firm.
FINRA alleged that Kumar operated three disclosed, but unregistered, outside businesses entities for the sole purpose of purchasing securities, mainly IPOs. Kumar allegedly misrepresented the nature of the entities’ business operations, value of assets under management and status, as a minority business qualified institutional buyer and/or institutional account. (See FINRA AWC No. 2012033514201)
Roger Kumar Jr. is not currently registered in the securities industry. His suspension is in effect from March 2, 2015 to March 1, 2016. Prior to his suspension from the industry, he was an active broker for 18 years with the following member firm(s):
HENNION & WALSH, INC.
CRD # 25766
DELRAY BEACH, FL
12/2013 – 3/2015
PMK SECURITIES & RESEARCH, INC.
CRD # 40145
DELRAY BEACH, FL
10/1996 – 5/2014
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 our office toll free at (239) 649-0050 for a free initial consultation.