Kinan Nimeh— Alleged Unsuitable Recommendations and Sales Practice Violations

Kinan Nimeh Allegedly Made Unsuitable Recommendations of Non-traditional ETF’s and Purportedly Committed Sales Practice Violations

Kinan Nimeh allegedly made unsuitable recommendations of non-traditional ETF’s and purportedly committed sales practice violations according to a recent Letter of Acceptance, Waiver, and Consent (AWC) presently being reviewed by attorneys Alan Rosca and James Booker.

Investors who believe they may have lost money in activity related to Kinan Nimeh‘s alleged unsuitable recommendations of non-traditional ETF’s are encouraged to contact attorneys Alan Rosca or James Booker with any useful information or for a free, no obligation discussion about their options.

The Peiffer Rosca Wolf securities lawyers are currently investigating Kinan Nimeh‘s alleged unsuitable recommendations of non-traditional ETF’s.

Nimeh allegedly recommended unsuitable transactions in leveraged Exchange Traded Funds in the accounts of 29 customers in alleged violation of FINRA Rules, according to the aforementioned AWC.

FINRA Rules state that a “member or an associated person must have a reasonable basis to believe that a recommended transaction or investment strategy involving a security or securities is suitable for the customer, based on the information obtained through the reasonable diligence of the member or associated person to ascertain the customer’s investment profile.”

Nimeh Suspended and Fined $5,000 and Ordered to Pay Restitution in the Sum of $3,578 to a Customer

Kinan Nimeh, based on the alleged aforementioned behavior, allegedly violated FINRA Rules and hence, has been suspended and fined $5,000 and ordered to pay restitution in the sum of $3,578 to a customer, according to the aforementioned AWC currently being reviewed by attorneys Alan Rosca and James Booker.

Nimeh allegedly recommended that the aforementioned non-traditional positions be held in these customers’ accounts from between 62 and 176 days, the AWC notes, and the alleged average holding period was 130 days.

What is more, Nimeh allegedly did not have reasonable grounds for believing that these recommendations were suitable, the AWC reports.

Nimeh allegedly has  four customer disputes in total, the most recent one was in 2015, where a  customer alleged unsuitability, excessive trading, unauthorized trading, and excessive margin, and the dispute was allegedly settled for $20,000, according to Nimeh’s BrokerCheck Report.

Finally, one should also note that, according to the AWC,  Kinan Nimeh neither admitted nor denied the FINRA findings.

Securities Lawyers Investigating

The Peiffer Rosca Wolf securities lawyers often represent investors who lose money as a result of investment-related fraud or misconduct and are currently investigating Kinan Nimeh‘s alleged unsuitable recommendations of non-traditional ETF’s. 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 Kinan Nimeh’s alleged unsuitable recommendations of non-traditional ETF’s may contact the securities lawyers at Peiffer Rosca Wolf, Alan Rosca or James Booker, for a free no-obligation evaluation of their recovery options, at 888-998-0520 or via e-mail at arosca@prwlegal.com or jbooker@prwlegal.com.

Alan Rosca (1234 Posts)

Alan is a securities lawyer. He also teaches Securities Regulation at the Cleveland-Marshall College of Law. He focuses his legal practice on complex commercial and financial litigation and arbitration, particularly in the areas of securities and investment fraud. His office is in Cleveland, Ohio.


In our legal system, every person is innocent until and unless found guilty by a court of law or a tribunal. Whenever we reference “allegations” or charges that are “alleged,” such allegations or charges have not been proven, and are merely accusations, not findings of fault, as of the date of the blog. We do not have, nor do we undertake, a duty to continue to monitor or follow cases about which we report, and/or to publish subsequent blogs regarding various developments that may occur in such cases. Readers are encouraged to conduct their own research regarding any such cases and any developments that may or may not have occurred in such cases.