Kevin Scott Pang Borrowed Money Without Proper Disclosure, Failed to Comply with FINRA Investigation, Allegedly
Kevin Scott Pang, previously registered by Berthel, Fisher & Company Financial Services, Inc., Honolulu, Hawaii, borrowed money from three customers under circumstances prohibited by FINRA rules while also refusing to provide information requested by FINRA staff, a FINRA Letter of Acceptance, Waiver and Consent (AWC) alleges. Pang, who entered the securities industry in August 2001, was registered as a General Securities Representative at FINRA member Berthel, Fisher & Company Financial Services, Inc. from October 6, 2009 through December 21, 2012, and has not since become associated with or registered at any other FINRA members, the AWC notes.
Kevin Scott Pang Borrowed from Multiple Customers
In August 2011, Pang borrowed $30,000 from a customer known as MY, $25,000 from a customer known as DC, and, in August 2012, Pang borrowed $100,000 from a customer known only as JM, the AWC alleges. At the time of each loan, Berthel, Fisher & Company’s procedures required written notice to and approval from the firm’s Compliance Department at the time of each loan, the AWC notes. Pang, however, entered into the aforementioned loans without providing notice to or receiving approval from Berthel, Fisher & Company. Furthermore, Pang falsely completed an annual compliance questionnaire, and hence, violated FINRA Rules.
Kevin Scott Pang Failed to Provide Information, Reportedly Consents to Sanctions
On February 14, 2014, Pang notified the FINRA staff, through counsel, that he declined to provide the information FINRA requested, and has never provided the information requested by the staff, the AWC notes. Therefore, the AWC alleges, Pang violated FINRA Rules, and consented to a bar from association with all FINRA members in all capacities.
Investment Fraud Lawyers Investigating
The Peiffer Rosca securities attorneys often represent investors who lose money as a result of Ponzi schemes, investment fraud, or stockbroker misconduct. They are currently investigating the possibility of assisting victims with the recovery of their losses. They take most cases of this type on a contingency fee basis and advance the case costs, and only get paid for their fees and costs out of money they recover for their clients.
Investors who believe they lost money as a result of investment fraud or misconduct may contact the securities lawyers at Peiffer Rosca, Alan Rosca or Joe Peiffer, for a free, no-obligation evaluation of their recovery options, at 888-998-0520.
Broker: Kevin Scott Pang
Status: INVESTIGATED by Peiffer Rosca.
For brokercheck report and additional info click here!