Kevin Chen (CRD #4871316) Has a Civil Disclosure on FINRA BrokerCheck

Kevin Chen (CRD #4871316) is a broker with a civil disclosure on FINRA BrokerCheck. We reviewed his BrokerCheck report on March 25, 2026. It reflects one civil event. If you invested with Kevin Chen and have concerns, keep reading.

BrokerCheck link: BrokerCheck

BrokerCheck report: BrokerCheck Report (PDF)

Civil Disclosures

Kevin Chen’s FINRA BrokerCheck Report reflects one civil disclosure. A summary of the disclosure is below:

On December 31, 2025, Dawn Tindall and Dedra Scow filed a civil action against Kevin Chen. Kevin Chen’s FINRA BrokerCheck report states the plaintiffs, on behalf of the estate of a deceased client, claim violations of fiduciary duties from October 2019 through December 2023. BrokerCheck lists the product as private equity, the relief sought as restitution, and the matter as pending. The report also states the case is pending in the Northern District of Texas, Dallas Division, and includes a denial from Chen.

Rule Summary #1: FINRA Rule 2010 (Standards of Commercial Honor and Principles of Trade)

FINRA Rule 2010 (Standards of Commercial Honor and Principles of Trade) requires members to observe high standards of commercial honor and just and equitable principles of trade. Civil claims involving fiduciary-duty issues can raise concerns about whether conduct met those standards.

Rule Summary #2: FINRA Rule 3110 (Supervision)

FINRA Rule 3110 (Supervision) requires firms to maintain and enforce written supervisory procedures that are reasonably designed to achieve compliance. Disputes tied to private placements or private equity can also raise questions about how the activity was supervised.

Why This Matters to Investors (Regulation Best Interest)

Regulation Best Interest (Reg BI) is a U.S. securities regulation. It strengthens the standard of conduct that broker-dealers owe to retail investors. It applies when they recommend securities transactions or investment strategies. The U.S. Securities and Exchange Commission adopted Reg BI. It became effective on June 30, 2020. Reg BI aims to protect investors while preserving access to brokerage products and services.

Reg BI requires broker-dealers and financial advisors to act in a retail customer’s best interest at the time of a recommendation. They must not place their own financial or other interests ahead of the customer’s. This standard is higher than the older “suitability” rule. Suitability meant a recommendation only had to be appropriate. It did not have to be the best option or free of conflicts.

Reg BI has four key obligations:

Disclosure Obligation – Broker-dealers must disclose material facts about the relationship and the recommendation. This includes fees, the scope of services, and conflicts of interest.

Care Obligation – Broker-dealers must use reasonable diligence, care, and skill. They must consider costs, risks, and alternatives when making a recommendation.

Conflict of Interest Obligation – Firms must identify conflicts of interest. They must disclose them and mitigate or eliminate them. This includes conflicts that create incentives to favor one product over another.

Compliance Obligation – Firms must maintain policies and procedures. Those policies should be designed to ensure compliance with Reg BI as a whole.

Reg BI applies to each recommendation. It is not a continuous duty like the fiduciary standard for registered investment advisers. Even so, it narrows the gap. It puts more focus on costs, conflicts, and investor-focused decision-making.

Overall, Regulation Best Interest promotes transparency. It also aims to improve the quality of investment recommendations. It is designed to reinforce trust between retail investors and broker-dealers in the U.S. securities markets.

Background Information (from BrokerCheck)

Based on his FINRA BrokerCheck report, Kevin Chen:

Is currently registered with PHX Financial, Inc.

Has passed the Securities Industry Essentials (SIE) exam. Kevin Chen has also passed Series 7, Series 99TO, Series 24, Series 65, and Series 63.

Kurta Law Can Help

If you have worked with Kevin Chen and you have concerns about his activity, Kurta Law may be able to help you evaluate your legal options. To speak with Kurta Law, call 877-600-0098 or email info@kurtalawfirm.com.

Helpful resources: Securities Attorney | Securities Fraud

For nearly 20 years, Kurta Law has advocated for investors and helped hold financial professionals accountable. Our firm represents clients nationwide in securities arbitration and related disputes. If you believe a broker or firm mishandled your account, an attorney can review the facts and explain possible next steps.