Kenneth Stewart Tyrrell (Ken Tyrrell), Financial Advisor Barred from Securities Industry | Goodman & Nekvasil P.A., May Recover Investor Losses
Goodman & Nekvasil P.A., May Recover Investor Losses | Kenneth Stewart Tyrrell (Ken Tyrrell), Financial Advisor Barred from Securities Industry
Ken Tyrrell was a previously licensed financial advisor with Cary Street Partners and UBS Financial Services, Inc. FINRA reports that Ken Tyrrell was barred from the securities and investment banking industry in December 2017.
ACCORDING TO FINRA: Tyrrell consented to the sanction and to the entry of findings that he participated in undisclosed private securities transactions without providing prior written notice to his member firm. The findings stated that Tyrrell participated in private securities transactions totaling more than $13 million with a customer involving the customer's investment in private equity and debt securities in companies in a variety of industries as part of the customer's overall financial plan. Although Tyrrell was not compensated for these transactions, he participated in them by, among other things, referring investments to the customer, conducting due diligence and relaying his views on the transactions at the customer's request, helping the customer establish certain holding companies to make the investments, and facilitating transfers of funds from the customer's firm accounts to the companies. The findings also stated that Tyrrell engaged in outside business activities without providing prior written notice to his firm. All of the outside business activities involved the same customer mentioned above. Three of the outside business activities involved Tyrrell, at the customer's request, serving as an officer of the holding companies the customer used to make his outside investments. A fourth was a company Tyrrell co-founded in which the customer invested. The fifth was a concierge services company owned by Tyrrell's spouse with which Tyrrell was also involved which was formed in part to provide personal services to Tyrrell's customer. Between June 2013 and June 2016, Tyrrell caused approximately $498,000 to be transferred from the customer's firm accounts to the concierge services company to pay for goods and services on the customer's behalf. In June 2016, the customer raised questions about the concierge services company. Thereafter, Tyrrell performed an audit of the concierge company's expenditures and returned approximately $130,000 to the customer's firm accounts, consisting of the balance of the customer's unspent funds held in the concierge service company's bank account, and repayment of certain operating expenses which the concierge services company had charged to the customer. The findings also included that Tyrrell provided his firm with compliance questionnaires that failed to disclose his participation in the private securities transactions and outside business activities.
If you lost any money on investments with Ken Tyrrell, you may be able to recover your losses. If you lost money on investments with Ken Tyrrell and believe the investments may have been unsuitable or otherwise improper for you, we would like to discuss the possibility of your retaining our firm to represent you in an arbitration action concerning Ken Tyrrell’s conduct. There is no charge for an evaluation of your case. Further, we handle our cases on a contingency fee basis. This means that unless we recover money for you, we charge no attorney’s fee. Unless you recover any money, you pay us nothing, not even the costs and expenses which the firm will advance on your behalf.
Kalju Nekvasil, Esq., formerly regional counsel with the NASD, now known as FINRA, has practiced in this area of the law for more than 35 years. Goodman & Nekvasil, P.A. has recovered more than $180 million on behalf of victimized investors. If you lost money on investments with Ken Tyrrell and would like your case evaluated by a securities attorney (again, there is no charge for an evaluation and all cases are handled on a purely contingency fee basis), please contact us.
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