Former Lenexa, Kansas broker and investment adviser Douglas Elstun (CRD# 2338588) has been named in a pending SEC enforcement action...Read More
FINRA Bars Kestra Rep Gabriel Hynes: Future Income Payments
Former Kestra Investment Services broker and investment adviser Gabriel Hynes (CRD# 3152541) was recently the subject of a disciplinary action by the Financial Industry Regulatory Authority in connection to allegations he did not provide testimony requested during FINRA’s investigation into his sale of investments in Future Income Payments, LLC. Formerly a representative at the firm’s office in St. Augustine, Florida, Hynes was barred from acting as a broker.
According to a Letter of Acceptance, Waiver and Consent (No. 2018059098601) dated January 2020, Gabriel Hynes was associated with NYLife Securities from January 2009 until June 2017, when the firm terminated his registrations with FINRA and association with it. He was then associated with Kestra Investment Services from February 2018 until April 2019, when the firm terminated his registration with FINRA and association with the firm. FINRA sent him a request on December 16, 2019 to appear and provide testimony in connection with its investigation into his sales of “Future Income Payments, LLC’s structured cash flow investments comprised of pension streams.” He indicated to FINRA via an email from counsel on the next day that he was in receipt of its request but would not appear for the requested testimony “at any time.” FINRA states that this refusal constituted a violation of FINRA Rules 8210 and 2010. As a result of the foregoing alleged conduct, he was barred from associating in any capacity with any FINRA member firm.
His BrokerCheck report lists one earlier FINRA action against him. An AWC Letter (No. 2016051410501) filed in August 2017 states that between September 2008 and May 2014, he bought “securities issued by privately-held companies costing a total of $90,000,” that these transactions were beyond the scope of his employment at NYLife Securities, and that while he was required to provide the firm with written notice before participating in the transactions, he did not do so. FINRA’s findings state further that he opened and maintained an account at an outside firm during his employment at NYLife, into which he deposited the securities he had purchased in the outside transactions, and without notifying his firm of the outside account or the outside firm of his association with NYLife Securities. As a result of the foregoing alleged conduct, he was issued a three month suspension from associating with any FINRA member firm. He was also ordered to pay a fine of $10,000.
Gabriel Hynes is currently not registered as a broker. His previous registrations include Kestra Investment Services, NYLife Securities, and AG Edwards & Sons. He has passed four securities industry qualifying examinations and his BrokerCheck report lists zero state securities licenses. (Information current as of May 15, 2020.)