Jerald James O’Halloran has been the subject of at least eight customer-initiated investment-related disputes, with allegations ranging from unsuitable investments and unauthorized transactions to misrepresentation and breach of fiduciary duty. These complaints span his employment with various firms, including A.G. Edwards Sons Inc., Edward Jones, and Kovack Securities Inc.
In one notable case, an arbitration claim resulted in O’Halloran being found liable for unsuitability and violation of Florida Statutes Chapter 517, with damages awarded to the customer. Several other complaints and arbitration claims have been settled, with customers receiving compensation for losses stemming from O’Halloran’s alleged misconduct.
Regulatory Actions and Fines
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In addition to customer disputes, O’Halloran has faced regulatory scrutiny from the Florida Office of Financial Regulation. He was fined and ordered to cease engaging in violations of Florida Statutes after failing to inform his broker-dealer about his outside business activities and engaging in unethical or dishonest business practices in the securities industry.
Furthermore, O’Halloran executed incomplete or invalid authorization forms related to trading in customer accounts, leading to violations of Florida Statute Chapter 517. These actions demonstrate a pattern of disregard for regulatory requirements and a lack of transparency in his dealings with clients and employers.
Employment Terminations and Current Status
O’Halloran’s alleged misconduct has resulted in two terminations from his employers. He was discharged from A.G. Edwards Sons Inc. in 2000 and from Kovack Securities Inc. in 2018 for engaging in violative activities in the securities industry, including failure to maintain records and handle customer correspondence appropriately.
As of December 4, 2018, O’Halloran is registered with Union Capital Company. However, his history of customer disputes and regulatory issues raises concerns about his ability to serve clients ethically and in compliance with securities laws.
Protecting Investors’ Interests
The case of Gerald James O’Halloran highlights the importance of thorough research and due diligence when choosing a financial advisor. Investors should review a broker’s background, including any customer complaints, regulatory actions, or employment terminations, before entrusting their financial well-being.
If you have suffered investment losses due to a broker’s misconduct like O’Halloran, seeking legal counsel from experienced securities attorneys is essential. These professionals can help you navigate the complex process of pursuing compensation through arbitration or other legal means, ensuring that your rights as an investor are protected.
By holding negligent brokers accountable for their actions, investors can help prevent future misconduct and promote a more transparent and trustworthy financial services industry. Remember, when it comes to your financial future, you deserve nothing less than the utmost professionalism, integrity, and dedication from your chosen advisor.
