Matthew Edward O’Callaghan, of New York, New York, a stockbroker with Odeon Capital Group LLC, was barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity after consenting to findings that he had failed to cooperate in a FINRA investigation into allegations that O’Callaghan stole customer funds. Letter of Acceptance, Waiver and Consent, No. 2015047862701 (Feb. 25, 2016).
According to the AWC, FINRA launched an investigation into O’Callaghan after his firm, Odeon Capital Group LLC, notified FINRA on November 19, 2015, that O’Callaghan was terminated amid an internal review into allegations that O’Callaghan committed potential theft and conversion of funds in transactions pertaining to secondary market syndicate loan trades.
The AWC stated that in January, 2016, FINRA sent O’Callaghan two requests, pursuant to Rule 8210, that he provide information and documentation pertaining to the aforementioned allegations. O’Callaghan reportedly failed to respond to either of FINRA’s requests. As such, FINRA found that O’Callaghan’s failure to cooperate was violative of FINRA Rule 8210 and 2010, leading to his permanent bar.
This is not the first time that O’Callaghan was subject to a FINRA disciplinary action. In January 2009, O’Callaghan was fined $10,000.00 and suspended for eighteen months after consenting to findings that he had mismarked corporate bonds in his trading book from March through April 2007. O’Callaghan’s conduct reportedly caused his firm’s records and books to maintain inaccurate bond prices as a result. O’Callaghan was found by FINRA to have violated NASD Rules 3110 and 2110 in connection with his prior misconduct.
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