Finra panel awards adviser $1.2 million from defunct broker-dealer

The award values Capital Guardian at $6.4 million

Dec 10, 2018 @ 1:52 pm

By Jeff Benjamin

A Finra arbitration panel has ruled in favor of adviser Brian Taylor Kirkpatrick in a share-ownership dispute with his former employer Capital Guardian, a now defunct broker-dealer.

According to the dispute resolution from the Financial Industry Regulatory Authority Inc., Mr. Kirkpatrick has been awarded $1.2 million for his 15% ownership stake in Capital Guardian, a Miami-based firm.

The ownership stake was worth approximately $960,000, but the award included a $255,000 compounded interest penalty.

The award valued Capital Guardian at approximately $6.4 million when Mr. Kirkpatrick left the firm and sought to sell his shares in late 2017.

Capital Guardian's broker-dealer was shut down and the assets were sold to Kovack Securities Inc. in September 2017.


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