In October, 2015, a sole public arbitrator convened a FINRA arbitration proceeding, and after receiving evidence issued an award against Kevin Fifer and Regis Asset management and Capital City Securities in the amount of $32,312.
The underlying matter involved claims for breach of contract; breach of fiduciary duty; and excessive trading or churning. The customers alleged that they transferred their accounts to Capital City with the understanding that they would be invested in safe conservative holdings, but once the accounts were transferred, Kevin Fifer liquidated their accounts and re-invested their money in various speculative and risky equities.
The customers also alleged that in 2011, Fifer started a new trading strategy of investing their entire portfolio into one stock and then selling all of the positions within a week, causing losses in their account. After considering the evidence the arbitrator ordered Kevin Fifer and Capital City Securities to pay the customer for 100% of her losses, interest from 2010, and also awarded her $5,000 in attorney’s fees.
As a result of this award The Law Office of David Liebrader has opened an investigation into Kevin Fifer
Kevin Fifer’s broker check report lists onecustomer complaint in 12 years in the industry. In addition to Capital City Securities, he has also been registered with Regis Securities Corporation.
FINRA Code of Arbitration Procedure section 12904 governs the issuance and payments of awards. Key provisions of the rule are that the award may be entered as a judgment in any court of competent jurisdiction, after a motion to confirm the award is filed pursuant to state or federal law. Furthermore, unless the applicable law directs otherwise, all awards rendered under the Code of Arbitration Procedure are final, and are not subject to review or appeal. Grounds for overturning binding FINRA arbitration awards are extremely limited. Kevin Fifer and the other Respondents had thirty days to pay the award, or to seek to have the award vacated.
If you are the victim of investment fraud, or if you have lost money investing with Kevin Fifer, please call The Law Office of David Liebrader at (702) 380-3131 for a free, confidential consultation to discuss your legal rights and options. Our firm takes cases on a straight contingency fee, with no money up front, and no money owed unless there is a recovery.
There is no charge for the initial consultation, so call (702) 380-3131 today to speak with an experienced securities attorney who will fight to recover your losses.
The Law Office of David Liebrader practices exclusively in the field of investment loss recovery. For the past 23 years, we have dedicated our law practice to assisting investors who have been victims of investment fraud via fraudulent and unsuitable investment transactions. During that time we have recovered money for over one thousand individuals, pension plans, trusts and companies. The recoveries we have obtained via judgments, awards and settlements on behalf of our clients exceed $40,000,000.