Kirk James Crossen (CRD #2742256) Has Regulatory and Customer Dispute Disclosures on FINRA BrokerCheck
Kirk James Crossen (CRD #2742256) has been the subject of disclosure events, which have recently been reported on his FINRA BrokerCheck Report. According to Kirk James Crossen’s FINRA BrokerCheck report accessed on January 24, 2026, Kirk James Crossen has been the subject of two regulatory events, one employment separation, and two customer disputes. If you invested with Kirk James Crossen and you have concerns about his activity, keep reading.
BrokerCheck link: BrokerCheck
BrokerCheck report: BrokerCheck Report (PDF)
Regulatory Action(s)
Kirk Crossen’s FINRA BrokerCheck Report reflects two regulatory event disclosures. A summary of certain disclosures is below:
On May 1, 2025, FINRA imposed an indefinite suspension on Kirk Crossen for failure to comply with an arbitration award or settlement agreement, or to satisfactorily respond to a FINRA request to provide information concerning the status of compliance. Source: FINRA Order
On November 11, 2025, FINRA filed a complaint alleging that Kirk Crossen borrowed a total of $400,000 through three loans from a customer. The complaint further alleges that the member firm’s written supervisory procedures did not allow Kirk Crossen to borrow from the customer’s trust because neither the trust nor its beneficial owner was an immediate family member, and that the beneficial owner was 84 years old and suffering from diminished capacity at the time of the loans. FINRA also alleges that Kirk Crossen concealed the loans from the firm by falsely stating on annual compliance questionnaires that he had not borrowed money from customers. Source: FINRA Complaint
Employment Separation After Allegations
Kirk Crossen’s FINRA BrokerCheck Report includes one employment separation disclosure. On October 31, 2023, Kirk Crossen was discharged from Raymond James & Associates, Inc. after allegations that he lacked candor during an inquiry into a loan from his former client at a prior firm.
Investor Disputes / Customer Complaints
Kirk Crossen’s FINRA BrokerCheck Report reflects two customer dispute disclosures. A summary of the disputes is below:
On April 3, 2025, a claimant alleged that Kirk Crossen (an ex-spouse) did not manage their joint accounts in the claimant’s best interest from 2016 through 2022. The matter is pending and the claimant requested $872,431.07 in damages.
On October 30, 2023, a claimant alleged, among other things, that the investment strategy executed in the client’s account was unsuitable from 2022 through 2023. The product type listed on the disclosure is Equity Listed (Common & Preferred Stock). The matter is pending and the claimant requested $6,000,000.00 in damages in a FINRA arbitration (Case #23-03162).
Rule summary #1: FINRA Rule 3240 (Borrowing From or Lending to Customers)
FINRA Rule 3240 generally prohibits registered representatives from borrowing money from or lending money to a customer unless specific conditions are met, including that the firm’s written procedures allow the arrangement and any required notice and approval requirements are satisfied.
Rule summary #2: FINRA Rule 8210 (Provision of Information and Testimony)
FINRA Rule 8210 authorizes FINRA to require member firms and associated persons to provide documents, information, and testimony in connection with FINRA investigations, examinations, and proceedings. Failure to provide requested information or testimony can result in serious discipline, including suspension.
Why this Matters to Investors (Regulation Best Interest)
Regulation Best Interest (Reg BI) is a U.S. securities regulation designed to strengthen the standard of conduct that broker-dealers owe to retail investors when making recommendations about securities transactions or investment strategies. Adopted by the U.S. Securities and Exchange Commission and effective as of June 30, 2020, Reg BI aims to enhance investor protection while preserving investor access to brokerage products and services.
Reg BI requires broker-dealers and financial advisors to act in the best interest of the retail customer at the time a recommendation is made, and not to place their own financial or other interests ahead of the customer’s. This represents a higher standard than the historical “suitability” requirement, which only required that recommendations be suitable, not necessarily optimal or conflict-free.
Reg BI is built around four key obligations:
- Disclosure Obligation – Broker-dealers must disclose material facts about the relationship and recommendations, including fees, scope of services, and conflicts of interest.
- Care Obligation – Recommendations must be made with reasonable diligence, care, and skill, considering costs, risks, and alternatives.
- Conflict of Interest Obligation – Firms must identify, disclose, and mitigate or eliminate conflicts, particularly those that create incentives to favor one product over another.
- Compliance Obligation – Firms must establish policies and procedures designed to ensure compliance with Reg BI as a whole.
Importantly, Reg BI applies at the recommendation level, not as a continuous duty like the fiduciary standard applicable to registered investment advisers. Still, it significantly narrows the gap by emphasizing cost considerations, conflict management, and investor-focused decision-making.
Overall, Regulation Best Interest seeks to promote transparency, improve the quality of investment recommendations, and reinforce trust between retail investors and broker-dealers in the U.S. securities markets.
Background Information (from BrokerCheck)
Based on his BrokerCheck Report, Kirk Crossen:
- Is not currently registered as a broker.
- Has passed the Securities Industry Essentials (SIE), Series 31, Series 7, Series 65, and Series 63 exams.
- Was previously registered with firms that include Raymond James & Associates, Inc., Morgan Stanley, and Wells Fargo Advisors, LLC.
Kurta Law Can Help
If you have worked with Kirk Crossen and you have concerns about his activity, Kurta Law may be able to help you evaluate potential recovery options. You may be entitled to pursue a claim through FINRA arbitration, depending on the facts of your situation and the investments involved. Contact Kurta Law at 877-600-0098 or info@kurtalawfirm.com for a free consultation.
Helpful resources: FINRA Rule 3240 | What is Securities Fraud?
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