The Missouri Securities Division alleges that Kenny Securities Corp. engaged in activities as a broker-dealer and employed an unregistered broker-dealer representative in violation of §409.4-401, RSMo Supp. 2005.
Kenny Securities Corp. desires to settle the allegations and the matters raised by the Securities Division relating to Kenny Securities Corp.’s alleged unregistered activities.
Kenny Securities Corp. and the Securities Division consent to the issuance of this Consent Order.
Kenny Securities Corp., without admitting nor denying it violated Missouri law, stipulates and agrees to the issuance of this Consent Order without further proceedings in this matter, agreeing to be fully bound by the terms and conditions specified herein.
Kenny Securities Corp. waives its right to a hearing with respect to this matter.
Kenny Securities Corp. stipulates and agrees that it waives any rights that it may have to seek judicial review or otherwise challenge or contest the terms and conditions of this Order. Further, Kenny Securities Corp. specifically forever releases and holds harmless the Missouri Office of Secretary of State, Secretary of State, Commissioner of Securities and their respective representatives and agents from any and all liability and claims arising out of, pertaining to or relating to this matter.
Kenny Securities Corp. stipulates and agrees that, should the facts contained herein prove to be false or incomplete, the Missouri Securities Division preserves the right to pursue any and all legal or administrative remedies at its disposal.
Kenny Securities Corp. agrees that, should it violate any part of this Order, including the prohibitions set forth in sections 1 and 2 of the Order section of this Order, any suspended fine, penalty or payment shall be immediately payable to the Division and the Division shall have all enforcement powers and authority available to it under Missouri law.
Kenny Securities Corp. is a broker-dealer with an address of 7711 Carondelet Avenue, Suite 308, St. Louis, Missouri 63105. Kenny Securities Corp. was registered in Missouri from 1995 until December 31, 2005.
Kenny Securities Corp. is not currently registered as a broker-dealer in the State of Missouri.
Kenny Securities Corp. operated as a broker-dealer from January 1, 2006 to February 23, 2006 without being registered as a broker-dealer in the State of Missouri.
From January 1, 2006 to February 23, 2006, Kenny Securities Corp. employed one unregistered broker-dealer representative who transacted business on behalf of the firm.
Kenny Securities Corp. had nine clients, during the time period January 1, 2006 to February 23, 2006, that were Missouri residents and transacted business with the firm.
Kenny Securities Corp. and the Securities Division stipulate and agree that the Commissioner has jurisdiction over these matters pursuant to the Missouri Securities Act, Chapter 409, et al.
Kenny Securities Corp. and the Securities Division stipulate and agree that the Commissioner has authority to enter this Consent Order pursuant to §409.6-604(h), RSMo Supp. 2005, which provides:
The commissioner is authorized to issue administrative consent orders in the settlement of any proceeding in the public interest under this act.
WHEREAS, the Commissioner, after consideration of the stipulations set forth above and on the consent of Kenny Securities Corp. and the Securities Division, finds the following Order to be in the public interest, necessary for the protection of public investors and consistent with the provisions of Chapter 409, et al.
NOW, THEREFORE, it is hereby Ordered that:
Kenny Securities Corp. is prohibited from conducting business as a broker-dealer and employing a broker-dealer representatives pursuant to §409.4-401, RSMo Supp. 2005 until becoming registered in the State of Missouri.
Kenny Securities Corp. will pay nine thousand dollars ($9,000) to the Missouri Secretary of State’s Investor Education and Protection Fund. Kenny Securities Corp. will deliver a check to the Securities Division in the amount of $4,000 made payable to the Missouri Secretary of State to be deposited into the Missouri Secretary of State’s Investor Education and Protection Fund. The remaining $5,000 of the $9,000 payment will be suspended provided that Kenny Securities Corp. does not transact business as an unregistered broker-dealer or employ an unregistered agent during the next two years.
In the event that Kenny Securities Corp. violates Paragraph 1 of the Order section of this Order, or transacts business as an unregistered broker-dealer or employs an unregistered agent in the two years following the date of this Order, the suspended $5,000 fine, penalty or payment shall be immediately payable, and the Securities Division will be able to take all enforcement action available to it under Missouri law.
Kenny Securities Corp. shall pay its own costs and attorneys fees with respect to this matter.
WITNESS MY HAND AND OFFICIAL SEAL OF MY OFFICE AT JEFFERSON CITY, MISSOURI THIS 8TH DAY OF MARCH, 2006.
SECRETARY OF STATE
MATTHEW D. KITZI
COMMISSIONER OF SECURITIES
Consented to by:
Mary S. Hosmer
Assistant Commissioner of Securities
Missouri Securities Division
Kenny Securities Group