Brian Patrick Kelly of Canton Ohio a stockbroker formerly employed by LPL Financial LLC has been ordered by the State of Ohio Division of Securities to cease and desist engaging in conduct violative of Ohio Securities Act based upon consenting to findings that Kelly traded in a customer’s account without authorization. In the Matter of: Brian P. Kelly Order No. 18-001 (Jan. 3, 2018).
According to the Order, Kelly traded in customer KS’s investment account despite KS never having provided written authorization for Kelly to exercise discretion. KS reportedly died prior to the trades having been placed in his account. The State of Ohio Securities Division found that Kelly’s conduct was violative of O.AC. 1301:6-3-19(A)(3) and O.AC. 1301:6-3-19(A)(4).
Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that on May 11, 2016, a customer initiated investment related complaint concerning Kelly’s activities was settled for $27,500.00 in damages supported by accusations that Kelly inappropriately solicited securities transactions and placed options trades in the customer’s account on an unsuitable and excessive basis. FINRA Arbitration No. 14-02191 (May 11, 2016).
Kelly has been registered with LPL Financial LLC since January 11, 2008.
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