Donald Kiley (CRD #: 2630201), a broker registered Ausdal Financial Partners, Inc., is facing allegations that he made unsuitable investment recommendations, according to his BrokerCheck record, accessed on August 26, 2020. He also has nine tax liens and several regulatory actions on his record.
On June 30, 2020, clients alleged that Donald Kiley recommended unsuitable investments. They are seeking $1,138,244 in damages; the dispute is pending.
On April 15, 2009, the State of Illinois found that Donald Kiley’s registration a salesperson to be subject to revocation. The sanctions ordered Mr. Kiley to not re-apply for this registration for two years. He was also levied the costs of the investigation, with amounted to $750.
On March 14, 2008, Donald Kiley was permitted to resign from his position at Waterstone Financial Group following allegations that he participated in private securities transactions for compensation and failed to give written notice to and receive written approval from his member firm.
On February 8, 2008, Mr. Kiley entered into a Decision & Order of Offer of Settlement with Financial Industry Regulatory Authority (FINRA), following allegations that he participated in private securities transaction for compensation and failed to receive written approval from his member firm. This order also states that he received $20,382.07 from his outside business activities. Donald Kiley consented to a fine of $5,000 and a three-month suspension. You can find a copy of the Decision & Order of Offer Settlement here.
These are not the only allegations of outside business activities on Mr. Kiley’s record.
On October 26, 2005, the State of Wisconsin issued a Summary Order of Prohibition and Censure based on allegations that Donald Kiley had sold unregistered securities in the form of mutual benefits viatical settlements, outside of his business with his member firm.
Mr. Kiley’s Detailed Broker Report lists the following outside businesses in Depere, Wisconisn:
- Cairn Stone Group LLC
- RP-Resources, Inc.
- Seventh Generation Financial
You can find a copy of his Detailed Broker Report here.
Donald Kiley’s tax liens total over $410,000.
Donald Kiley has passed the Series 63 Uniform Securities Agent State Law Examination, the Securities Industry Essentials Examination, the Series 7 General Securities Representative Examination, and the Series 6 Investment Company Products / Variable Contracts Representative Examination. He is a registered broker in California, Indiana, Louisiana, South Carolina, and Wisconsin.
During the course of his career, Donald Kiley has worked at the following firms:
- Waterstone Financial Group, Inc. (CRD #: 10078)
- Walnut Street Securities, Inc (CRD #: 15840)
- Nathan & Lewis Securities, Inc (CRD #: 8503)
If Donald Kiley was your broker and you have questions about your investments, don’t hesitate to contact the securities attorneys at Fitapelli Kurta. Call (877) 238-4175 or email firstname.lastname@example.org for your free case consultation with a securities attorney.