V. Cullen Kempson III, a/k/a Voigt C. Kempson, a stockbroker formerly employed by Commonwealth Financial Network, submitted a letter of Acceptance, Waiver, and Consent (AWC) in which he consented to, but did not admit to or deny, the Financial Industry Regulatory Authority’s (FINRA) findings that he made unauthorized discretionary trades in his deceased customer’s accounts.
Voigt Kempson, of Sparta, New Jersey, was found by FINRA to have effected 40 discretionary trades in the accounts of his deceased customer even though he was aware of his customer’s death. Although Mr. Kempson had been authorized to effect discretionary trades while the customer was alive, Mr. Kempson continued to trade in the customer’s accounts even after her death. Further, FINRA found that Mr. Kempson neglected to inform his member firm of the customer’s death. Continue Reading