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Kerry Pope Facing a $25 Million Dispute with Institutional Investor

Kerry Pope (CRD #: 3139298), a broker registered with Fidelity Distributors Company, is the subject of a $25 million investor dispute. This is according to his BrokerCheck record, accessed on November 2, 2023. Details are provided below. 

On August 21, 2023, an institutional investor alleged that Kerry Pope failed to disclose that the recommended fixed-income mutual funds could lose principal. As a result, the investor alleged that the fixed-income mutual funds were unsuitable because they were subject to potential principal loss. An “institutional investor” is an investor that represents an entity such as a company or a hedge fund. In this case, the institutional investor was an SEC-registered public company. 

The investor is seeking $25 million in this pending dispute. 

FINRA Rule 2111 – Unsuitable Investments 

FINRA Rule 2111 defines suitable investments as securities that fit an investor’s profile. Investor profiles have information on the investor’s risk tolerance, tax status, and financial goals. Investments that do not take these factors into account may be unsuitable. Mutual funds that risk losing the principal investment are too risky for many institutional investors. 

Background Information 

Kerry Pope has passed the following exams: 

  • Series 66 Uniform Combined State Law Examination 
  • Series 63 Uniform Securities Agent State Law Examination 
  • SIE – Securities Industry Essentials Examination 
  • Series 7 General Securities Representative Examination 
  • Series 24 General Securities Principal Examination 

He is a registered broker in 50 states, D.C., and Puerto Rico.

In his 19 years of experience, he has registered with three firms: 

  • Fidelity Distributors Company (CRD #: 17507) 
  • Pyramis Distributors Corporation (CRD #: 146430) 
  • State Street Global Markets (CRD #: 30107) 

Kurta Law Can Help

If you worked with Kerry Pope and have concerns about your investments, please contact us today at 877-600-0098 or 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 that 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.