Allenstown, NH
Have you lost money with financial advisor Karen McKinley of Allenstown, New Hampshire? We are continuing to look into allegations made against Karen A. McKinley, formerly known as Karen Boggess. The Securities and Exchange Commission barred McKinley from the securities industry, after she pleaded guilty for stealing money from an elderly customer.
In late 2016, FINRA, the Financial Industry Regulatory Authority, barred McKinley from the securities industry after she failed to respond to a FINRA investigation. She stole nearly $300,000 and was sentenced to 7.5 to 15 years in prison.
Karen McKinley was a financial advisor and registered representative of Morgan Stanley from 2009 to August 2016. She worked at a branch office in Manchester, New Hampshire.
Brokerage firms like Morgan Stanley have a responsibility to adequately supervise all representatives who are registered through their firm. Brokerage firms also must take steps to ensure that their financial advisors follow all securities rules and regulations, as well as internal firm policies. When brokerage firms fail to adequately supervise their registered representatives, they may be liable for investment losses sustained by customers.
Israels & Neuman PLC is a securities and investment fraud law firm with offices in Ann Arbor, Michigan; Denver, Colorado; Phoenix, Arizona; and Seattle, Washington. We represent investors in FINRA arbitration proceedings in all 50 states, including investors in New Hampshire who lost money with an advisor in Nashua. Our attorneys have represented over one thousand investors against many brokerage firms in the past, including Morgan Stanley.