Kevin Christopher McCarthy (CRD #1702715) Has Customer Dispute, Termination, and Financial Disclosures on FINRA BrokerCheck

Kevin Christopher McCarthy (CRD #1702715) was previously registered as a broker. We reviewed his BrokerCheck report on April 10, 2026. It reflects four customer disputes, one employment separation, and one financial disclosure. If you invested with Kevin McCarthy and have concerns, keep reading.

BrokerCheck link: BrokerCheck

BrokerCheck report: BrokerCheck Report (PDF)

Investor Disputes / Customer Complaints

Kevin McCarthy’s FINRA BrokerCheck Report reflects four customer dispute disclosures. Summaries of two disputes are below. Two additional customer dispute disclosures also appear on the report.

On January 17, 2026, a customer dispute was reported as pending. Kevin McCarthy’s FINRA BrokerCheck disclosure says a client alleged he managed the client’s financial affairs without a durable power of attorney and allegedly facilitated the disappearance of $1.6 million from three bank accounts between January 2018 and June 2024. The disclosure also says the client alleged beneficiary changes were made without proper signatures and that a limited partnership remained registered in the client’s name. BrokerCheck lists fixed annuities, banking products, and direct investment interests as the products involved.

Another dispute settled in 2018. Kevin McCarthy’s FINRA BrokerCheck report says a claimant alleged suitability and misrepresentation issues tied to a real estate security purchased in 2015. The customer sought $50,000, and the matter settled for $19,000 on October 21, 2018. The report says Kevin McCarthy contributed $5,000 and denied wrongdoing.

Employment Separation

Kevin McCarthy’s FINRA BrokerCheck Report reflects one employment separation disclosure. A summary of that disclosure is below:

Madison Avenue Securities, LLC discharged Kevin McCarthy on January 30, 2026. Kevin McCarthy’s FINRA BrokerCheck disclosure says the firm ended his registration after an internal review that began with a written complaint. The report says the firm determined he accessed clients’ personal bank accounts and was involved in payments from those accounts. It also says some payments went to people with a familial relationship to him.

Financial Disclosures

Kevin McCarthy’s FINRA BrokerCheck Report reflects one financial disclosure. A summary of that disclosure is below:

BrokerCheck reports that Kevin McCarthy filed for Chapter 13 bankruptcy on November 30, 2017. The disclosure lists the matter as discharged on February 15, 2023. It identifies the case as filed in the United States Bankruptcy Court for the Southern District of Florida, Miami Division.

Rule Summary #1: FINRA Rule 2150 (Improper Use of Customers’ Securities or Funds)

FINRA Rule 2150 bars improper use of a customer’s securities or funds. When a disclosure says a broker accessed client bank accounts or was involved in payments from them, that can raise questions about how customer funds were handled.

Rule Summary #2: FINRA Rule 2111 (Suitability)

FINRA Rule 2111 requires a broker to have a reasonable basis to believe a recommendation is suitable for the customer. Disputes involving real estate securities, REITs, or other complex products can raise questions about risk disclosure and whether the recommendation matched the investor’s profile.

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 McCarthy:

Is not currently registered as a broker.

Has passed the Securities Industry Essentials (SIE) exam. Kevin McCarthy has also passed Series 7TO, Series 7, Series 66, and Series 63.

Was previously registered with firms that include Madison Avenue Securities, LLC, Usallianz Securities, Inc., and Legacy Financial Services, Inc.

Kurta Law Can Help

If you have worked with Kevin McCarthy and you have concerns about his activity, Kurta Law may be able to help you evaluate your legal options. A securities attorney can help you assess potential causes of action and determine whether your losses may be recoverable through FINRA arbitration or other avenues. To speak with Kurta Law, call 877-600-0098 or email info@kurtalawfirm.com.

Helpful resources: Securities Attorney | What Is 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.