Alex Williams (CRD# 2646185), a broker and investment adviser based in New York, has received a pending customer complaint. According...Read More
Capital City Securities Rep Clint Keener Barred: Suitability
Former Powell, Ohio broker/adviser Clint Keener (CRD# 2250146) was recently barred by the Financial Industry Regulatory Authority (FINRA) in connection to allegations he refused to comply with a request for testimony during a FINRA investigation into whether he recommended unsuitable investments. Keener was most recently registered with Capital City Securities.
According to a Letter of Acceptance, Waiver and Consent (No. 2015048347901) dated November 2019, Clint Keener became registered with Capital City Securities in May 2012 as a General Securities Representative, then in November 2013 as an Investment Banking Representative. In September 2019, according to the AWC Letter, FINRA staff sent Keener a request to provide on-the-record testimony in connection with its ‘investigation into potential unsuitable recommendations.” Keener indicated to FINRA in an email via counsel on October 4, 2019, that he had gotten the request but would not appear for the requested testimony “at any time.” FINRA found that this refusal constituted a violation of FINRA Rule 8210, which authorizes FINRA to require persons under its jurisdiction to provide testimony regarding matters under its investigation. As a result of the foregoing alleged conduct, Keener was barred from associating with any FINRA member firm in any capacity.
According to Clint Keener’s BrokerCheck report, he was previously the subject of a FINRA sanction in 2010. That action alleged he made unsuitable trading recommendations involving “purchases resulting in an over-concentration of non-investment grade bonds and other equities” in the account of a couple over 60 years old with no investment experience. This action also alleged that he mis-marked order tickets for these customers and other customers as unsolicited when in fact the trades were solicited, and further that he exercised discretion in several customer accounts with verbal but not written authorization. As a result of this alleged conduct, FINRA suspended Keener for two months and ordered him to pay a fine of $7,500.
Clint Keener is currently not registered with any FINRA member firm. His previous registrations include Capital City Securities, WRP Investments, Stifel Nicolaus & Company, McDonald Investments, Michael Patterson Inc., Quantum Capital Corporation, and the Hamilton-Shea Group. He has passed five securities industry qualifying examination and currently holds no state securities licenses. (Information current as of April 25, 2020.)