Brian Donnelly Formerly with First Allied Suspended by FINRA
ISELIN, NEW JERSEY
Did you lose money with stockbroker Brian Donnelly, formerly with First Allied Securities? Our investment fraud law firm is reviewing allegations made about Brian Donnelly. In June 2022, FINRA (the Financial Industry Regulatory Authority) suspended Donnelly from the securities brokerage industry for four months. Donnelly was not fined for this conduct.
FINRA began its investigation into Donnelly regarding allegations that he participated in private securities transactions. In particular, Donnelly was alleged to have sold $250,000 of units in a limited partnership to a customer of his former firm, First Allied Securities. Donnelly allegedly did not disclose these sales to First Allied Securities.
Brian Donnelly had been licensed with First Allied Securities from December 2015 to May 2021. He was assigned to an Iselin, New Jersey office. Donnelly has also been the subject of a 2019 complaint involving GPB Capital, seven tax liens, and he was previously “permitted to resign” by Triad Advisors in 2015.
Pursuant to FINRA Rule 3110, securities brokerage firms like First Allied Securities must reasonably supervise their financial advisors like Brian Donnelly. If the firm fails to perform sufficient supervision, they may be responsible for harm suffered by investors.
Our securities arbitration law firm represents investors throughout the country, including investors in New Jersey. Most of our cases are filed in FINRA arbitration, and we have previously brought cases against First Allied Securities.
View Donnelly, b BrokerCheck 6.22.22