Charles Kenahan Lawsuit

Charles Kenahan was a Boston, Massachusetts broker for Merrill Lynch until his July 2019 employment separation after allegations of unauthorized trading, unsuitable investment recommendations and excessive trading. Bank of America Merrill Lynch paid $40 million to settle “churning” allegations involving Charles Kenahan, according to the filings. “It’s the largest such settlement in at least a decade,” according to CNBC. According to FINRA’s BrokerCheck, there are two additional pending disputes with requested damages amounts of $42,218,702 and $700,000.

Peiffer Wolf Carr & Kane is currently investigating claims against Charles Kenahan, a previously registered broker with Merrill Lynch, Peirce, Fenner, and Smith Inc. in Boston, Massachusetts.

In addition to the recent historic settlement, Charles Kenahan is being investigated for “unsuitable investment recommendations, excessive trading, and misrpepresentation from February 2012 until December 2017” and “unsuitable investments, unauthorized trading and excessive trading from December 2007 to February 2018.” If you were a client of Charles Kenahan, Contact Us Today by calling 585-310-5140 or by filling out an online contact form for a FREE Consultation.

According to FINRA’s BrokerCheck website for Public Disclosures, Charles Kenahan has been the subject of 5 disclosures.

July 9, 2019: Employment Separation After Allegations – Discharged:  Allegations “Customers’ allegations of unauthorized trading, unsuitable investment recommendations and excessive trading.”

May 3, 2018: Customer Dispute Pending – Damage Amount Requested $700,000:  Allegations “The Customer alleges excessive trading and unsuitable investment recommendations from 2012 until 2017.”

March 3, 2018: Customer Dispute – Settlement Amount of $40,000,000:  Allegations “The Customer alleges excessive trading and unsuitable investment recommendations from 2012 until 2017.”

February 2, 2018: Customer Dispute Pending – Damage Amount Requested $42,218,702:  Allegations “The customer alleges unsuitable investments, unauthorized trading and excessive trading from December 2007 to February 2018.”

August 8, 2009: Customer Dispute Denied – Damage Amount Requested $148,353:  Allegations “The Customer alleges unsuitable investment recommendations and misrepresentation from December 2007 until February 2008.”

To review Charles Kenahan’s Brokercheck report, click here: https://brokercheck.finra.org/individual/summary/1351974

Financial advisors (brokers) have a legal obligation and regulatory obligation to recommend only suitable investments that are appropriate for their individual clients. Their broker-dealer (employing brokerage firm) has a legal obligation and regulatory obligation to supervise the financial advisor’s sales practices and dealings with clients. To the extent that any of these duties are breached, the customer may be entitled to a recovery of his or her investment losses.

Before starting at Merrill Lynch, Charles Kenahan has worked at multiple firms over the years for various lengths of time: Morgan Stanley & Co, Morgan Stanley DW Inc, Smith Barney Inc, Bear Stearns & Co, and Thomson McKinnon Securities. FINRA maintains a database of investor complaints and disciplinary and employment history for registered representatives and publishes some of this information on its BrokerCheck website, www.brokercheck.finra.org.

FREE Consultation |  585-310-5140

Peiffer Wolf Carr & Kane has helped thousands of investors who have suffered substantial losses. If you were a client of Charles Kenahan, Contact Us by calling 585-310-5140 or by filling out an online Contact Form for a FREE Consultation.

Peiffer Wolf (1316 Posts)


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.