Gerald James O’Halloran of Punta Gorda, Florida, a stockbroker currently registered with Union Capital Company, is the subject of a customer initiated investment related FINRA securities arbitration claim in which the customer requested $100,000.00 in damages based upon allegations of O’Halloran’s unsuitable recommendations to the customer concerning business development companies (BDCs) and limited partnerships (LPs) when O’Halloran was employed by Union Capital Company and Kovack Securities Inc. Financial Industry Regulatory Authority (FINRA) Arbitration No. 21-02588 (December 3, 2021). The claim also alleges unauthorized transactions.
O’Halloran has been identified in nine more customer initiated investment related disputes regarding accusations of his misconduct when employed by securities broker dealers, including Edward Jones, AG Edwards Sons, and Kovack Securities. FINRA Public Disclosure shows that a customer filed an investment related complaint involving O’Halloran’s activities in which the customer sought compensatory damages for placing unauthorized transactions. According to the complaint, the customer allegedly was told that they would not incur commissions, fees, or upfront charges.
On May 5, 2020, a customer filed an investment related complaint concerning O’Halloran’s conduct where the customer requested compensatory damages supported by accusations of O’Halloran’s unauthorized stock transactions while registered with AG Edwards Sons. O’Halloran is also referenced in a customer initiated investment related FINRA securities arbitration claim in which the customer was awarded $65,394.00 in compensatory damages based on Kovack Securities being found liable for the customer’s claims of unsuitable recommendations.
Another customer initiated investment related complaint regarding O’Halloran’s conduct was settled for $14,000.00 in damages based upon allegations of unauthorized reverse convertible notes while O’Halloran was associated with Kovack Securities.
O’Halloran is also identified in a customer initiated investment related FINRA securities arbitration claim which was resolved for $60,000.00 in damages founded on accusations of breach of contract, negligence, and breach of fiduciary duty by O’Halloran during the time that he was registered with Kovack Securities. FINRA Arbitration No. 16-02140 (August 17, 2017). According to the claim, information relating to UDF IV had been omitted or misrepresented by O’Halloran.
On May 29, 2020, another customer initiated investment related complaint involving O’Halloran’s activities was settled for $24,000.00 in damages supported by allegations of O’Halloran placing the customer in risky investments, including real estate securities as well as common and preferred stocks.
O’Halloran has also been fined $4,000.00 and ordered to cease and desist violating Florida securities laws based upon a Florida Office of Financial Regulation Order concerning findings of O’Halloran’s signing of incomplete customer trading forms and his failure to maintain a trade blotter at Kovack Securities Inc.
O’Halloran was employed by Kovack Securities between May 7, 2004, and March 2, 2018. He has been associated with Union Capital Company since December 4, 2018.
