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James Kennedy: FINRA Probes, Bars Woodbury Broker
Former Madison, Missouri broker James Kennedy (CRD# 1527660) has been sanctioned by the Financial Industry Regulatory Authority over findings he failed to comply with an investigation into allegations of an unapproved outside business activity. Formerly associated with Woodbury Financial Services, he was barred from associating with any FINRA firm.
According to a Letter of Acceptance, Waiver, and Consent (No. 2019062489101) dated April 2020, James Kennedy was associated with Woodbury Financial Services from 2007 until March 2020, when the firm filed notice that he had been “permitted to resign for engaging in an unapproved outside business activity involving a financial transaction with a couple of clients.” FINRA had previously initiated an investigation into him in April 2019 after receiving “a tip.” In connection with this investigation, FINRA sent him requests on May 6, 2019, August 6, 2019, and August 29, 2019 to produce documents and information regarding the matter. FINRA states that he “provided partial but incomplete responses to these requests,” and appeared to provide FINRA with testimony in December 2019. However, FINRA states, he stopped cooperating with the investigation in March 2020, specifically refusing to respond to a March 20, 2020 request to produce documents and information which he had not provided in response to the earlier requests, as well as new documents and information. FINRA’s findings state that he indicated via a phone call with counsel that he had received its request but would not produce the requested documents and information, a refusal that FINRA states violated FINRA Rules 8210 and 2010. As a result of the foregoing alleged conduct, he was barred from associating with any FINRA member firm.
James Kennedy is currently not registered as a broker. His previous registrations include Woodbury Financial Services, Hartford Equity Sales Company, Edward Jones & Company, Legg Mason Wood Walker, and Howard Weil Labouisse Friedrichs. He has passed four securities industry qualifying examinations and his BrokerCheck report lists zero state securities licenses. (Information current as of May 28, 2020.)