According to FINRA, Kevin John Herne has been named as a respondent in a FINRA complaint alleging that he willfully failed to disclose a felony charge on his Form U4.

The complaint alleges that the State of Texas issued a criminal complaint charging Herne with Continuous Violence Against the Family, a felony offense under the Texas Penal Code. Herne allegedly was aware of the felony charge when he appeared in court and signed a bail bond stating he had been charged with a felony offense.

However, the complaint alleges that Herne failed to amend his Form U4 to disclose the felony charge within the required 30 days and failed to disclose the charge to his member firm for more than two years. Ultimately, FINRA advised the firm of the charge, and the firm filed a Form U4 amendment on Herne's behalf.

The complaint alleges that the felony charge was material information that a reasonable employer, customer, prospective customer, or regulator would have viewed as relevant to Herne's business and employment.

It is important to note that the issuance of a complaint represents the initiation of formal proceedings, not a determination of the allegations. Herne is entitled to respond to the charges. Investors may wish to monitor this matter for further developments.