Timothy Charles Sullivan of San Ramon California is a stockbroker registered with SII Investments Inc. who has been fired in December 2017 based upon accusations that he utilized unauthorized communication vehicles and failed to make required regulatory disclosures.
Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that Sullivan has been referenced in nine customer initiated investment related disputes containing allegations of his improper conduct during the time that he was employed with Securities Services Network, Inc., SII Investments, Inc., Alamo Capital, and FSC Securities Corporation.
Specifically, a customer was awarded $23,927.60 in damages according to an investment related arbitration claim containing findings that Sullivan executed the unauthorized transfer of funds from the customer’s money market fund into a stock fund; effected unsuitable transactions in the customer’s account; negligently managed the customer’s investments; made omissions and misrepresentations to the customer; and breached his fiduciary duties. National Association of Securities Dealers (NASD) Arbitration No. 02-04811 (Aug. 1, 2013).
Thereafter, on September 19, 2008, a customer filed an investment related written complaint involving Sullivan’s conduct, where the customer requested $5,000.00 in damages supported by accusations that a collateralized mortgage obligation bond purchase was effected without the customer’s consent. Then, on September 22, 2008, a customer filed an investment related written complaint pertaining to Sullivan’s activities, in which the customer sought $5,000.00 in damages founded on allegations that Sullivan failed to communicate with the customer about the customer’s investment strategy and placed mutual fund transactions without the customer’s authorization.
Moreover, on December 19, 2008, a customer filed an investment related written complaint regarding Sullivan’s activities, where the customer requested $15,950.00 in damages based upon accusations that the customer’s instructions were not timely followed concerning the liquidation of the customer’s mutual fund holdings. On February 20, 2009, another customer filed an investment related written complaint involving Sullivan’s conduct, in which the customer sought $10,030.00 in damages supported by allegations of unauthorized stock purchases having been executed in the customer’s account.
Thereafter, on June 4, 2009, a customer filed an investment related written complaint pertaining to Sullivan’s activities, where the customer requested $67,000.00 in damages founded on accusations that Sullivan failed to take appropriate steps to preserve the customer’s principal after the customer’s individual retirement account sustained losses. Further, on April 2, 2015, a customer filed an investment related written complaint regarding Sullivan’s activities, in which the customer sought $46,188.47 in damages based upon allegations that the customer was not made aware of the tax liabilities for liquidating a variable annuity to buy a life insurance policy.
Sullivan’s registration with SII Investments, Inc. was terminated as of December 7, 2017.
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