John Thomas Holly Sr. (also known as Tom Holly), of Boca Raton, Florida, a stockbroker registered with National Securities Corporation, 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 that Holly made unsuitable recommendations of GWG private placements when Holly was associated with National Securities Corporation. Financial Industry Regulatory Authority (FINRA) Arbitration No. 22-01592 (July 18, 2022). The claim alleges that the recommendations were not consistent with the customer’s risk tolerance.
This is not the first time that Holly has been referenced in a customer initiated investment related dispute concerning Holly’s conduct in the securities industry. FINRA Public Disclosure shows that Holly was also referenced in a customer initiated investment related complaint that was settled on February 28, 2001, for $6,000.00 in damages based upon allegations that Holly made misrepresentations of material fact and made unsuitable recommendations of corporate bonds when Holly was associated with JWGenesis Securities Inc.
On April 7, 2003, a customer initiated investment related NASD securities arbitration claim involving Holly’s conduct was settled for $190,000.00 in damages based upon allegations that Holly made unsuitable recommendations of over the counter equities when Holly was associated with First Union Securities Inc. FINRA Arbitration No. 02-01425.
Holly’s registration with National Securities Corporation was terminated on July 22, 2022. Holly has been registered with B. Riley Wealth Management as a stockbroker since July 22, 2022, and registered with B. Riley Wealth Advisors Inc. since May 18, 2004.
