Securities Fraud and Mismanagement

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NYSE pic 2On December 16, 2019, in connection with a regulatory investigation by the Financial Industry Regulatory Authority (FINRA) of Gabriel W. “Gabe” Hynes’ sale of Future Income Payments, LLC’s structured cash flow investments comprised of pension streams, FINRA staff sent a request to Hynes for on-the-record testimony. Hynes acknowledged that he received FINRA’s request and will not appear, thus not contest, the allegations.

As a result, Hynes was barred from the securities industry by FINRA.  This means that he can no longer act as a securities broker and must leave Kestra.

Hynes has previously had significant regulatory problems.  In 2017, he consented to the sanctions in the form of a suspension and a $10,000 fine, and to the entry of findings that he purchased securities issued by privately-held companies costing a total of $90,000. The findings stated that these transactions were outside the regular course and scope of his employment with his member firm. As a result, Hynes was required to provide written notice to the firm before participating in them, but he failed to provide the firm with any notice. The findings also stated that Hynes opened an account at another member firm and maintained the account throughout his association with his firm. 

His employer at the time, NY Life, allowed Hynes to resign when his involvement in these private and undisclosed securities transactions came to light.  After leaving NY Life Gabe Hynes moved to Kestra.

Jeffrey Pederson is a private attorney that assists in the recovery of funds lost by brokers like Gabe Hynes.  For a free consultation, please call 303-300-5022.