August 2018-Punta Gorda, Florida
The FINRA records of Gerald J. O’Halloran, a previously registered stock broker who was recently employed by Kovack Securities , disclose that he was recently named in an administrative action by Florida Securities Regulators.
In June 2018, the Florida Office of Financial Regulation filed an administrative complaint alleging that O’Halloran failed to observe high standards of commercial honor and equitable principles of trade and failed to report an outside business activity and timely update regulatory records. The complaint seeks a bar from the securities industry and other relief.
The Financial Industry Regulatory Authority (FINRA) is the agency that licenses and regulates stockbrokers and brokerage firms. FINRA requires brokers and brokerage firms to report customer complaints and disputes as well as regulatory sanctions. In addition brokers are required to disclose certain financial matters such as personal bankruptcies, judgments and liens.
O’Halloran’s FINRA record discloses that a customer of Kovack Securities awarded over $76,000 by a FINRA arbitration panel to resolve allegations that O’Halloran made unauthorized trades in the customer’s account.
Four other customers were paid cash settlements to resolve allegations that O’Halloran mismanaged their accounts.
O’Halloran was employed by Kovack Securities from 5/2004-3/2018 and operates Daedalian Financial Services.
If you have losses in an account handled by Gerald J. O’Halloran call for a no charge consultation to discuss your options for recovery of damages.
Rex Securities Law , with offices in Boca Raton, FL, and Austin, TX, provides representation to investors nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.
Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.
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