Hilliard Lyons broker Christopher Bennett was recently ordered to pay $445,000
in damages for allegedly committing several FINRA violations that resulted
in significant losses to a client's qualified and non-qualified retirement
accounts. According to the Arbitration Award, the Panel decided that Hilliard
Lyons and Bennett are jointly and severally liable for compensatory damages.
According to Bennett's latest FINRA BrokerCheck report, he states that
Bennett currently has three prior customer disputes and two currently
pending customer disputes alleging misrepresentation, suitability, and
breach of fiduciary duty. He is still registered with Hilliard Lyons.
Brokerage Firms Are Sometimes Held Liable for Investment Losses
Investment misconduct can have serious ramifications for everyone involved.
When brokers like Christopher Bennett omit material facts, fail to disclose
the level of risk associated with recommended investments, and fail to
diversify the allocation of assets with regard to clients' objectives,
age, and financial health, they may be violating industry rules and could
be held liable for their misconduct. Similarly, when brokerage firms fail
to monitor their brokers' activities to ensure compliance with industry
rules, they can be held liable for losses resulting from the misconduct.
If you or someone you know lost money with Bennett, our investment loss
attorneys at Meyer Wilson would like to offer you a
free consultation to evaluate your case. Call us today at (888) 390-6491.