Kevin Roberson Facing State Securities Investigation and Civil Suit
Kevin Roberson (CRD #: 2298900), a broker registered with Merrill Lynch in Hilton Head Island, is the subject of an investigation by a state securities regulator. This disclosure appears on his BrokerCheck record, accessed on November 10, 2023. Keep reading for more details.
On September 1, 2023, the Georgia Commissioner of Securities alleged that Merrill Lynch and Kevin Roberson failed to supervise the accounts of a client with respect to the styling of the name on the customer’s accounts.
Failure to Supervise
FINRA Rule 3110 requires that firms establish supervisory systems to ensure their compliance with securities regulations. Firms must appoint supervisors and provide them with Written Supervisory Procedures (WSPs) to follow. If a firm fails to catch red flags of broker misconduct, it may face FINRA fines for failure to supervise.
On July 21, 2023, Bellevue Memorial Gardens Inc. filed a civil case against Kevin Roberson alleging a breach of fiduciary duties and negligence.
Brokers are often dually registered as Registered Investment Advisers (RIAs) with the SEC. RIAs are fiduciaries, and fiduciaries are required to act in their clients’ best interests. Brokers are not fiduciaries but must abide by FINRA Rule 2111 and Regulation Best Interest. (To learn more about the differences between brokers and Registered Investment Advisers, click here.)
Kevin Roberson has passed the following exams:
- Series 65 Uniform Investment Adviser Law Examination
- Series 63 Uniform Securities Agent State Law Examination
- SIE – Securities Industry Essentials Examination
- Series 31 Futures Managed Funds Examination
- Series 7 General Securities Representative Examination
- Series 10 General Securities Sales Supervisor – General Module Examination
- Series 9 General Securities Sales Supervisor – Options Module Examination
- Series 8 General Securities Sales Supervisor – (Options Module & General Module)
He is a registered broker in 48 states, D.C., and Puerto Rico. He is a registered investment advisor in South Carolina and Texas.
During his 30 years of experience, Kevin Roberson has exclusively registered with Merrill Lynch, Pierce, Fenner & Smith.
Kurta Law Can Help
If you worked with Kevin Roberson and 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 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.