Investors Allege Donald McKiernan Failed to Supervise
Donald McKiernan (CRD #: 1305965), a broker registered with Landolt Securities, allegedly failed to supervise another broker’s conduct, according to his BrokerCheck record, accessed on February 22, 2023. If you have questions about his alleged conduct as a broker, keep reading.
On December 31, 2022, investors filed a dispute alleging that Donald McKiernan engaged in negligence and failed to supervise another broker who allegedly engaged in the misappropriation of $797,000. The clients seek $856,443 in damages in this pending dispute.
In two pending disputes, filed on October 4 and 31, 2022, multiple investors similarly alleged that Donald McKiernan engaged in negligence and failed to supervise with regard to another broker’s alleged misappropriation. These disputes additionally allege that Donald McKiernan violated the Wisconsin Uniform Securities Act. The investors seek approximately $608,000 in damages.
FINRA Rule 3110
FINRA Rule 3110 requires that firms establish supervisory systems to maintain their compliance with securities regulations. This includes appointing supervisors and providing them with Written Supervisory Procedures (WSPs).
What is broker negligence?
Brokers may act in many negligent ways, ranging from misrepresenting or omitting information to executing unauthorized trades. Investors who feel their losses are the result of broker negligence may be able to recover their funds by pursuing FINRA arbitration.
What are blue sky laws?
Blue sky laws like the Wisconsin Uniform Securities Act are state-level securities regulations that offer investors an extra layer of protection against fraud. These regulations typically also define what investments qualify as securities.
Donald McKiernan has passed the following exams:
- Series 63 – Uniform Securities Agent State Law Examination
- Series 52TO – Municipal Securities Representative Examination
- SIE – Securities Industry Essentials Examination
- Series 7 – General Securities Representative Examination
- Series 28 – Introducing Broker/Dealer Financial Operations Principal Examination
- Series 4 – Registered Options Principal Examination
- Series 24 – General Securities Principal Examination
Donald McKiernan is a registered broker in 15 states and a registered investment adviser in Wisconsin.
He has also worked for the following firms:
- Oberweis Securities (CRD#:42060)
- Birkelbach Investment Securities (CRD#:11490)
- Robert A. Podesta & Company (CRD#:13140)
- The Chicago Corporation (CRD#:1449)
- Oberweis Securities (CRD#:7739)
- Francis Manzo & Company (CRD#:8187)
- Vantage Securities of Colorado (CRD#:8622)
Kurta Law Can Help
If you worked with Donald McKiernan and you have concerns about your investments, please contact us today at 877-600-0098 or firstname.lastname@example.org for a free consultation.
For over 20 years, Kurta Law has advocated on behalf of investors who want to recover their investment losses from brokers and brokerage firms. Kurta Law is a nationally recognized law firm and exclusively represents investors against brokers and brokerage firms on a contingency basis. This means that the firm only earns a fee if our securities attorneys recover money on your behalf.