Jeffrey Joseph Kelly of Getzville New York a stockbroker formerly registered with Ameriprise Financial Services Inc. has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he failed to provide information and documentation to FINRA concerning his possible misappropriation or conversion of customer funds. Letter of Acceptance Waiver and Consent No. 20170565345-01 (Sept. 12, 2018).
The AWC stated that FINRA was provided notice from Ameriprise that Kelly had been terminated on January 10, 2018 based upon the firm’s accusations that he engaged in unethical behavior concerning an LLC which violated the firm’s conduct standards.
FINRA subsequently launched an investigation into Kelly’s activities. On June 29, 2018, Kelly was apparently sent a letter from FINRA personnel seeking information and documentation referring to Kelly’s possible misappropriation and conversion of customer funds. The AWC stated that Kelly was expected to comply and provide the information to FINRA personnel no later than July 13, 2018. Kelly was apparently warned that his failure to provide the information and documentation could result in FINRA sanctioning him.
Kelly evidently sought and obtained an extension of time to cooperate with FINRA personnel. He was made aware that the information was due by July 27, 2018. However, Kelly reportedly contacted FINRA personnel a week prior to the deadline, informing FINRA that he would at no point be providing information and documentation that FINRA requested of him. FINRA found that Kelly’s refusal to cooperate in this regard was violative of FINRA Rules 2010 and 8210.
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