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Kevin Horan Terminated by Simplex Trading

Kevin Horan (CRD #: 5902658) has been fired by Simplex Trading following allegations. This disclosure appears on his BrokerCheck record, accessed on November 13, 2023. Details regarding his termination are provided below. 

On September 28, 2023, Simplex Trading fired Kevin Horan following allegations of non-compliance with the firm’s books and records policy. The firm further alleged he was using an unauthorized channel for business purposes and continued to use off-channel communications after being informed of the prohibition by the Simplex Compliance Department. 

FINRA Rule 4511

FINRA Rule 4511 requires firms to keep accurate and up-to-date books and records. Each firm must establish rules designed to ensure compliance with securities rules and regulations, including the requirement for up-to-date records.

FINRA Rule 3110 

FINRA Rule 3110 requires supervisory reviews of outgoing correspondence in order to catch any red flags of securities fraud. This is part of the broader supervision rules outlined by FINRA Rule 3110. Using off-channel communications circumvents this supervision. 

FINRA Rule 2010

FINRA Rule 2010 holds brokers to high standards of commercial honor and just and equitable principles of trade. Unauthorized communications violate this rule. 

Background Information 

Kevin Horan has passed the following exams: 

  • Series 57TO Securities Trader Exam 
  • SIE – Securities Industry Essentials Examination 

During his three years of experience, Kevin Horan has registered with two firms: 

  • Simplex Trading (CRD #: 153585) 
  • G-Bar Limited Partnership (CRD #: 34179) 

Kurta Law Can Help

If you worked with Kevin Horan and have concerns about your investments, please contact us today at 877-600-0098 or info@kurtalawfirm.com for a free consultation.

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