Gerald James OHalloran - FINRA BrokerCheck Report

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BrokerCheck report for Gerald James OHalloran. It is uploaded here by Vernon Healy law firm. To learn more about your broker, please visit investigate your broker, or call us at 877-649-5394.

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Gerald James OHalloran - FINRA BrokerCheck Report

  1. 1. BrokerCheck Report GERALD JAMES OHALLORAN CRD# 1056697 Report #85165-27106, data current as of Tuesday, October 01, 2013. Section Title Page(s) Report Summary 1 Broker Qualifications 2-4 Registration and Employment History 5 Disclosure Events 6
  2. 2. About BrokerCheck® BrokerCheck offers information on all current-and many former-FINRA-registered securities brokers, and all current and former FINRA-registered securities firms. FINRA strongly encourages investors to use BrokerCheck to check the background of securities brokers and brokerage firms before deciding to conduct, or continue to conduct, business with them. · · · · · What is included in a BrokerCheck report? BrokerCheck reports for individual brokers include information such as employment history, professional qualifications, disciplinary actions, criminal convictions, civil judgments and arbitration awards. BrokerCheck reports for brokerage firms include information on a firm’s profile, history, and operations, as well as many of the same disclosure events mentioned above. Please note that the information contained in a BrokerCheck report may include pending actions or allegations that may be contested, unresolved or unproven. In the end, these actions or allegations may be resolved in favor of the broker or brokerage firm, or concluded through a negotiated settlement with no admission or finding of wrongdoing. Where did this information come from? The information contained in BrokerCheck comes from FINRA’s Central Registration Depository, or CRD® and is a combination of: o information FINRA and/or the Securities and Exchange Commission (SEC) require brokers and brokerage firms to submit as part of the registration and licensing process, and o information that regulators report regarding disciplinary actions or allegations against firms or brokers. How current is this information? Generally, active brokerage firms and brokers are required to update their professional and disciplinary information in CRD within 30 days. Under most circumstances, information reported by brokerage firms, brokers and regulators is available in BrokerCheck the next business day. What if I want to check the background of an investment adviser firm or investment adviser representative? To check the background of an investment adviser firm or representative, you can search for the firm or individual in BrokerCheck. If your search is successful, click on the link provided to view the available licensing and registration information in the SEC's Investment Adviser Public Disclosure (IAPD) website at http://www.adviserinfo.sec.gov. In the alternative, you may search the IAPD website directly or contact your state securities regulator at http://www.nasaa.org. Are there other resources I can use to check the background of investment professionals? FINRA recommends that you learn as much as possible about an investment professional before deciding to work with them. Your state securities regulator can help you research brokers and investment adviser representatives doing business in your state. Thank you for using FINRA BrokerCheck. Using this site/information means that you accept the FINRA BrokerCheck Terms and Conditions. A complete list of Terms and Conditions can be found at brokercheck.finra.org For additional information about the contents of this report, please refer to the User Guidance or www.finra.org/brokercheck. It provides a glossary of terms and a list of frequently asked questions, as well as additional resources. For more information about FINRA, visit www.finra.org.
  3. 3. www.finra.org/brokercheck User Guidance GERALD J. OHALLORAN Report Summary for this Broker CRD# 1056697 Currently employed by and registered with the following FINRA Firm(s): KOVACK SECURITIES INC. 150 W. MCKENZIE STREET SUITE 111 PUNTA GORDA, FL 33950 CRD# 44848 Registered with this firm since: 05/07/2004 This report summary provides an overview of the broker's professional background and conduct. Additional information can be found in the detailed report. Broker Qualifications This broker is registered with: 2 Self-Regulatory Organizations 15 U.S. states and territories Is this broker currently suspended or inactive with any regulator? No Disclosure Events Disclosure events are certain criminal matters; regulatory actions; civil judicial proceedings; customer complaints, arbitrations, or civil litigations; employment terminations; and financial matters in which the broker has been involved. This broker has passed: 0 Principal/Supervisory Exams 2 General Industry/Product Exams 1 State Securities Law Exam Registration History This broker was previously registered with FINRA at the following brokerage firms: Are there events disclosed about this broker? Yes The following types of disclosures have been reported: Type Count 1 Criminal Customer Dispute 7 Termination 2 FINANCIAL INVESTMENT ANALYSTS, INC. CRD# 16010 PITTSBURGH, PA 08/2002 - 05/2004 A. G. EDWARDS & SONS, INC. CRD# 4 ST. LOUIS, MO 11/1998 - 06/2000 EDWARD D. JONES & CO., L.P. CRD# 250 ST. LOUIS, MO 02/1992 - 09/1998 ©2013 FINRA. All rights reserved. Report# 85165-27106 about GERALD J. OHALLORAN. Data current as of Tuesday, October 01, 2013. 1
  4. 4. www.finra.org/brokercheck User Guidance Broker Qualifications Registrations This section provides the self-regulatory organizations (SROs) and U.S. states/territories the broker is currently registered and licensed with, the category of each registration, and the date on which the registration became effective. This section also provides, for every brokerage firm with which the broker is currently employed, the address of each branch where the broker works. This individual is currently registered with 2 SROs and is licensed in 15 U.S. states and territories through his or her employer. Employment 1 of 1 Firm Name: KOVACK SECURITIES INC. Main Office Address: 6451 N. FEDERAL HWY. SUITE 1201 FT. LAUDERDALE, FL 33308 Firm CRD#: 44848 SRO Category Status Date FINRA General Securities Representative APPROVED 05/07/2004 NASDAQ Stock Market General Securities Representative APPROVED 07/12/2006 U.S. State/ Territory Category Status Date U.S. State/ Territory Category Status Date California Agent APPROVED 05/07/2004 Ohio Agent APPROVED 01/12/2006 Colorado Agent APPROVED 10/24/2008 Pennsylvania Agent APPROVED 12/11/2006 Delaware Agent APPROVED 01/06/2006 Tennessee Agent APPROVED 05/24/2006 Florida Agent APPROVED 05/07/2004 Georgia Agent APPROVED 10/11/2005 Illinois Agent APPROVED 07/29/2005 Maryland Agent APPROVED 05/07/2004 Massachusetts Agent APPROVED 05/07/2004 Michigan Agent APPROVED 10/28/2008 Minnesota Agent APPROVED 05/17/2004 New Jersey Agent APPROVED 05/06/2013 North Carolina Agent APPROVED 05/07/2004 ©2013 FINRA. All rights reserved. Report# 85165-27106 about GERALD J. OHALLORAN. Data current as of Tuesday, October 01, 2013. 2
  5. 5. www.finra.org/brokercheck User Guidance Broker Qualifications Employment 1 of 1, continued Branch Office Locations KOVACK SECURITIES INC. 150 W. MCKENZIE STREET SUITE 111 PUNTA GORDA, FL 33950 ©2013 FINRA. All rights reserved. Report# 85165-27106 about GERALD J. OHALLORAN. Data current as of Tuesday, October 01, 2013. 3
  6. 6. www.finra.org/brokercheck User Guidance Broker Qualifications Industry Exams this Broker has Passed This section includes all securities industry exams that the broker has passed. Under limited circumstances, a broker may attain a registration after receiving an exam waiver based on exams the broker has passed and/or qualifying work experience. Any exam waivers that the broker has received are not included below. This individual has passed 0 principal/supervisory exams, 2 general industry/product exams, and 1 state securities law exam. Principal/Supervisory Exams Exam Category Date Exam Category Date Investment Company Products/Variable Contracts Representative Examination Series 6 08/20/1982 General Securities Representative Examination Series 7 01/20/1992 Exam Category Date Uniform Securities Agent State Law Examination Series 63 08/11/2003 No information reported. General Industry/Product Exams State Securities Law Exams Additional information about the above exams or other exams FINRA administers to brokers and other securities professionals can be found at www.finra.org/brokerqualifications/registeredrep/. ©2013 FINRA. All rights reserved. Report# 85165-27106 about GERALD J. OHALLORAN. Data current as of Tuesday, October 01, 2013. 4
  7. 7. www.finra.org/brokercheck User Guidance Registration and Employment History Registration History This broker previously was registered with FINRA at the following firms: Registration Dates Firm Name CRD# Branch Location 08/2002 - 05/2004 FINANCIAL INVESTMENT ANALYSTS, INC. 16010 PITTSBURGH, PA 11/1998 - 06/2000 A. G. EDWARDS & SONS, INC. 4 ST. LOUIS, MO 02/1992 - 09/1998 EDWARD D. JONES & CO., L.P. 250 ST. LOUIS, MO 08/1982 - 12/1991 UNITED SERVICES PLANNING ASSOCIATION, 3641 INC. FORT WORTH, TX Employment History Below is the broker's employment history for up to the last 10 years. Please note that the broker is required to provide this information only while registered with FINRA and the information is not updated after the broker ceases to be registered. Therefore, an employment end date of "Present" may not reflect the broker's current employment status. Employment Dates Employer Name Employer Location 05/2004 - Present KOVACK SECURITIES INC. FT. LAUDERDALE, FL 01/2002 - Present FINANCIAL INVESTMENT ANALYSTS, INC. CANONSBURG, PA Other Business Activities This section includes information, if any, as provided by the broker regarding other business activities the broker is currently engaged in either as a proprietor, partner, officer, director, employee, trustee, agent or otherwise. This section does not include non-investment related activity that is exclusively charitable, civic, religious or fraternal and is recognized as tax exempt. 1) DBA: DAEDALIAN FINANCIAL SERVICES, LLC - OWNER; SECURITIES 90% OF TIME SPENT; LIFE, HEALTH, ACCIDENT 5% OF TIME SPENT; LIFE INSURANCE 5% OF TIME SPENT; COMPENSATED ON COMMISSIONS. 11/14/11 ©2013 FINRA. All rights reserved. Report# 85165-27106 about GERALD J. OHALLORAN. Data current as of Tuesday, October 01, 2013. 5
  8. 8. www.finra.org/brokercheck User Guidance Disclosure Events What you should know about reported disclosure events: 1. Disclosure events are certain criminal matters; regulatory actions; civil judicial proceedings; customer complaints, arbitrations, or civil litigations; employment terminations; and financial matters in which the broker has been involved. 2. Certain thresholds must be met before an event is reported to CRD, for example: o A law enforcement agency must file formal charges before a broker is required to report a particular criminal event. o A customer dispute must involve allegations that a broker engaged in activity that violates certain rules or conduct governing the industry and that the activity resulted in damages of at least $5,000. 3. Disclosure events in BrokerCheck reports come from different sources: o As mentioned at the beginning of this report, information contained in BrokerCheck comes from brokers, brokerage firms and regulators. When more than one of these sources reports information for the same disclosure event, all versions of the event will appear in the BrokerCheck report. The different versions will be separated by a solid line with the reporting source labeled. 4. There are different statuses and dispositions for disclosure events: o A disclosure event may have a status of pending, on appeal, or final. § A "pending" disclosure event involves allegations that have not been proven or formally adjudicated. § A disclosure event that is "on appeal" involves allegations that have been adjudicated but are currently being appealed. § A "final" disclosure event has been concluded and its resolution is not subject to change. o A final disclosure event generally has a disposition of adjudicated, settled or otherwise resolved. § An "adjudicated" matter includes a disposition by (1) a court of law in a criminal or civil matter, or (2) an administrative panel in an action brought by a regulator that is contested by the party charged with some alleged wrongdoing. § A "settled" matter generally represents a disposition wherein the parties involved in a dispute reach an agreement to resolve the matter. Please note that brokers and brokerage firms may choose to settle customer disputes or regulatory matters for business or other reasons. § A "resolved" matter usually includes a disposition wherein no payment is made to the customer or there is no finding of wrongdoing on the part of the individual broker. Such matters generally involve customer disputes. For your convenience, below is a matrix of the number and status of disclosure events involving this broker. Further information regarding these disclosure events can be found in the subsequent pages of this report. You also may wish to contact the broker to obtain further information regarding the disclosure events. ©2013 FINRA. All rights reserved. Report# 85165-27106 about GERALD J. OHALLORAN. Data current as of Tuesday, October 01, 2013. 6
  9. 9. www.finra.org/brokercheck User Guidance Pending Final On Appeal Criminal 0 1 0 Customer Dispute 2 5 N/A N/A 2 N/A Termination ©2013 FINRA. All rights reserved. Report# 85165-27106 about GERALD J. OHALLORAN. Data current as of Tuesday, October 01, 2013. 7
  10. 10. www.finra.org/brokercheck User Guidance Disclosure Event Details When evaluating this information, please keep in mind that a discloure event may be pending or involve allegations that are contested and have not been resolved or proven. The disclosure event may, in the end, be withdrawn, dismissed, resolved in favor of the broker, or concluded through a negotiated settlement for certain business reasons (e.g., to maintain customer relationships or to limit the litigation costs associated with disputing the allegations) with no admission or finding of wrongdoing. This report provides the information exactly as it was reported to CRD and therefore some of the specific data fields contained in the report may be blank if the information was not provided to CRD. Criminal - Final Disposition This type of disclosure event involves a criminal charge against the broker that has resulted in a conviction, acquittal, dismissal, or plea. The criminal matter may pertain to any felony or certain misdemeanor offenses, including bribery, perjury, forgery, counterfeiting, extortion, fraud, and wrongful taking of property. Disclosure 1 of 1 Reporting Source: Broker Court Details: BROOKLINE, MA POLICE DEPT. NONE Charge Date: 09/06/1956 Charge Details: UNAUTHORIZED VEHICLE USE Felony? Yes Current Status: Final Status Date: 09/06/1956 Disposition Details: CHARGES DISMISSED. Summary: AS A 17 YR OLD, I WAS INVOLVED WITH THREE OTHERS IN THE UNAUTHORIZED USE OF A VEHICLE. THESE CHARGES WERE DISMISSED. THREE YEARS LATER AT AGE 20, I DISCUSSED THE RECORD WITH THE SAME JUDGE. HE AGREED TO REMOVE THE RECORD SO I COULD JOIN THE USAF. DURING THE PAST 35 YRS, I'VE HELD TOP SECRET CLEARANCES WITHIN THE DOD. THE JUDGE TOLD ME TO ACKNOWLEDGE ANY RECORD OF THIS. ©2013 FINRA. All rights reserved. Report# 85165-27106 about GERALD J. OHALLORAN. Data current as of Tuesday, October 01, 2013. 8
  11. 11. www.finra.org/brokercheck User Guidance Customer Dispute - Award/Judgment This type of disclosure event involves a final, consumer-initiated, investment-related arbitration or civil suit containing allegations of sales practice violations against the broker that resulted in an arbitration award or civil judgment for the customer. Disclosure 1 of 1 Reporting Source: Broker Employing firm when activities occurred which led to the complaint: KOVACK SECURITIES, INC. Allegations: UNAUTHORIZED TRANSACTIONS Product Type: Equity - OTC Other Product Type(s): BONDS Alleged Damages: $64,193.00 Customer Complaint Information Date Complaint Received: 10/16/2006 Complaint Pending? No Status: Arbitration/Reparation Status Date: 08/25/2007 Settlement Amount: Individual Contribution Amount: Arbitration Information Arbitration/Reparation Claim filed with and Docket/Case No.: FINRA #07-01446 Date Notice/Process Served: 08/25/2007 Arbitration Pending? No Disposition: Award to Customer Disposition Date: 05/21/2008 Monetary Compensation Amount: $76,565.08 Individual Contribution Amount: $48,000.00 ©2013 FINRA. All rights reserved. Report# 85165-27106 about GERALD J. OHALLORAN. Data current as of Tuesday, October 01, 2013. 9
  12. 12. www.finra.org/brokercheck User Guidance Individual Contribution Amount: $48,000.00 Summary: [CUSTOMER] WAS PRESENT AND AGREED TO ALL TRANSACTIONS DONE IN HER ACCOUNT. WHEN THE STOCK WHEN DOWN-SHE CAME IN MONTHS LATER ASKING ME TO MAKE GOOD FOR THE LOSSES OUT OF MY OWN POCKET-WHICH I WOULD NOT DO. SHE THREATEN TO SUE AND RUIN MY REPUTATION IN THE SMALL COMMUNITY. ©2013 FINRA. All rights reserved. Report# 85165-27106 about GERALD J. OHALLORAN. Data current as of Tuesday, October 01, 2013. 10
  13. 13. www.finra.org/brokercheck User Guidance Customer Dispute - Settled This type of disclosure event involves a consumer-initiated, investment-related complaint, arbitration proceeding or civil suit containing allegations of sale practice violations against the broker that resulted in a monetary settlement to the customer. Disclosure 1 of 3 Reporting Source: Broker Employing firm when activities occurred which led to the complaint: KOVACK SECURITIES, INC. Allegations: CUSTOMER ALLEGES UNAUTHORIZED TRADES IN THE ACCOUNT DURING FEBRUARY 2011. CLIENT DISCOVERED THE TRADES IN MARCH 2011. Product Type: Other: REVERSE CONVERTIBLE NOTES Alleged Damages: $27,000.00 Alleged Damages Amount Explanation (if amount not exact): APPROXIMATE UNREALIZED LOSS Is this an oral complaint? No Is this a written complaint? Yes Is this an arbitration/CFTC reparation or civil litigation? No Customer Complaint Information Date Complaint Received: 10/27/2011 Complaint Pending? No Status: Settled Status Date: 01/03/2012 Settlement Amount: $14,000.00 Individual Contribution Amount: $14,000.00 i Disclosure 2 of 3 Reporting Source: ©2013 FINRA. All rights reserved. Firm Report# 85165-27106 about GERALD J. OHALLORAN. Data current as of Tuesday, October 01, 2013. 11
  14. 14. www.finra.org/brokercheck User Guidance Employing firm when activities occurred which led to the complaint: A.G. EDWARDS & SONS, INC. Allegations: ALLEGES UNUATHORIZED TRANSACTIONS. SEEKS REIMBURSEMENT OF TRANSACTION. LOSSES IN EXCESS OF $5,000.00 Product Type: Equity Listed (Common & Preferred Stock) Alleged Damages: Customer Complaint Information Date Complaint Received: 05/05/2000 Complaint Pending? No Status: Settled Status Date: 05/24/2000 Settlement Amount: $8,646.30 Individual Contribution Amount: $0.00 i Reporting Source: Broker Employing firm when activities occurred which led to the complaint: A. G. EDWARDS & SONS, INC. Allegations: ALLEGED UNAUTHORIZED TRANSACTIONS. CUSTOMER WAS SEEKING REIMBURSEMENT OF TRANSCTION LOSSES IN EXCESS OF $5,000 FROM ONE TRADE. FINAL SETTLEMENT AMOUNTED TO $8,646.30 Product Type: Equity Listed (Common & Preferred Stock) Alleged Damages: $8,646.30 Customer Complaint Information Date Complaint Received: 05/05/2000 Complaint Pending? No Status: Settled Status Date: 05/25/2000 Settlement Amount: $8,646.30 Individual Contribution ©2013 FINRA. All rights reserved. Amount: $8,646.30 Report# 85165-27106 about GERALD J. OHALLORAN. Data current as of Tuesday, October 01, 2013. 12
  15. 15. www.finra.org/brokercheck User Guidance Individual Contribution Amount: $8,646.30 Summary: BOUGHT 150 SH. S-1 CORP (SONE) 3/29/2000 @ 92 ($13,939). TRADE CONFIRM REFLECTED S-1 CORP. CLIENT WAS CONFUSED. I REMINDED HER THAT WAS SAME STOCK WE AGREED ON AS (SONE) SYMBOL. OKAY! ALMOST DAILY DISCUSSIONS REGARDING ENTIRE PORTFOLIO. MET IN OFFICE 4/12 & 5/4. REVIEWED ANALYST REPORTS (S & P & GOLDMAN SACHS). STOCK DOWN WITH HIGH TECH MARKET, BUT SHE WAS HAPPY WITH FORECAST & AGREED TO KEEP SONE. SELL WHEN LOSS RECOVERED. CLIENT REACTS TO EVERY TV REPORT. AGAINST OUR ADVICE, INCLUDING MANAGER, SHE SOLD $15,000 OF MFD, CLASS A SHARES, OWNED ONLY 2 MONTHS, TO BUY LATEST FAD STOCK. i Disclosure 3 of 3 Reporting Source: Firm Employing firm when activities occurred which led to the complaint: EDWARD D. JONES & CO., LP Allegations: THE CUSTOMER CLAIMS HE DID NOT AUTHORIZE THE EX-IR TO LIQUIDATE $250,000.00 TOTAL FROM TWO OF HIS MUTUAL FUNDS HOLDINGS AND INVEST THE PROCEEDS IN A VARIABLE ANNUITY. CUSTOMER DEMANDS THAT THE ANNUITY BE LIQUIDATED AND THAT HIS FUND HOLDINGS BE REINSTATED WITH ANY NECESSARY ADJUSTMENTS BEING MADE SO HE DOES NOT SUFFER ANY LOSSES AS A RESULT OF THE IR'S ACTION. Product Type: Alleged Damages: Customer Complaint Information Date Complaint Received: 10/01/1998 Complaint Pending? No Status: Settled Status Date: 10/22/1998 Settlement Amount: $9,609.82 Individual Contribution Amount: Summary: ©2013 FINRA. All rights reserved. THE CUSTOMER'S ANNUITY WAS LIQUIDATED AND THE TWO MUTUAL FUNDS HOLDINGS WERE REINSTATED PER THE Report# 85165-27106 about GERALD J. OHALLORAN. Data current as of Tuesday, October 01, 2013. 13
  16. 16. www.finra.org/brokercheck User Guidance Summary: THE CUSTOMER'S ANNUITY WAS LIQUIDATED AND THE TWO MUTUAL FUNDS HOLDINGS WERE REINSTATED PER THE CUSTOMER'S REQUEST, AT NO COST TO THE CUSTOMER. MARKET LOSSES INCURRED DURING THE TRANSFERS WERE $9,609.82. i Reporting Source: Broker Employing firm when activities occurred which led to the complaint: EDWARD D. JONES & CO., LP Allegations: CUSTOMER CLAIMS HE DID NOT AUTHORIZE THE EX-IR TO LIQUIDATE $250,000 TOTAL FROM TWO OF HIS MUTUAL FUNDS HOLDINGS AND INVEST THE PROCEEDS IN A VARIABLE ANMITY. CUSTOMER WANTS TO EXERCISE HIS FREE LOOK PRIVILEGE, AND PLACE THE PROCEEDS BACK INTO THE MUTUAL FUNDS WITHOUT ANY LOSS TO HIM. Product Type: Alleged Damages: Customer Complaint Information Date Complaint Received: 10/01/1998 Complaint Pending? No Status: Settled Status Date: 10/22/1998 Settlement Amount: $9,609.82 Individual Contribution Amount: Summary: ©2013 FINRA. All rights reserved. $9,609.82 SETTLEMENT ON OR ABOUT AUGUST 14TH I CONTACTED THE CUSTOMER. PART OF OUR DISCUSSION CONCERNED TAXES, HE FELT IT WAS TOO MUCH. I TOLD HIM WE COULD TAKE HALF OF HIS AMERICAN FUNDS AND MOVE THEM TO A TAX DEFERRED STATUS USING AMERICAN FUNDS AS LONG AS HE HAD NO PLANS TO USE THE MONEY FOR ABOUT TEN YEARS. I TOLD HIM THAT THIS WOULD BE AN ANNUITY, AND HE WOULD NEED TO NAME A BENEFICIARY. HE IS STILL SINGLE SO HE TOLD ME TO NAME HIS TRUST AS BENEFICIARY. DURING THE LAST WEEK IN SEPTEMBER, THE JONES IR WHO TOOK OVER MY J. OHALLORAN. Data current as of Tuesday, October 01, Report# 85165-27106 about GERALDOFFICE, CALLED ME TO VERIFY THAT THE 2013. CUSTOMER'S TRUST WAS NAMED AS BENEFICIARY. SHE SAID THE 14
  17. 17. www.finra.org/brokercheck User Guidance AS BENEFICIARY. DURING THE LAST WEEK IN SEPTEMBER, THE JONES IR WHO TOOK OVER MY OFFICE, CALLED ME TO VERIFY THAT THE CUSTOMER'S TRUST WAS NAMED AS BENEFICIARY. SHE SAID THE CUSTOMER HAD TOLD ME TO DO THAT A MONTH AGO. THIS ANNUITY IS VERY MUCH IN HIS BEST INTEREST. IT'S UNFORUNATE THAT SOMEONE HAS DISSUADED HIM. ©2013 FINRA. All rights reserved. Report# 85165-27106 about GERALD J. OHALLORAN. Data current as of Tuesday, October 01, 2013. 15
  18. 18. www.finra.org/brokercheck User Guidance Customer Dispute - Closed-No Action/Withdrawn/Dismissed/Denied This type of disclosure event involves (1) a consumer-initiated, investment-related arbitration or civil suit containing allegations of sales practice violations against the individual broker that was dismissed, withdrawn, or denied; or (2) a consumer-initiated, investment-related written complaint containing allegations that the broker engaged in sales practice violations resulting in compensatory damages of at least $5,000; forgery, theft, or misappropriation; or conversion of funds or securities that was closed without action, withdrawn, or denied. Disclosure 1 of 1 Reporting Source: Firm Employing firm when activities occurred which led to the complaint: Allegations: CUSTOMER CLAIMED HE ADVISED EX-IR TO TRANSFER HIS SECURITIES TO OUR FIRM IN MARCH OF 1998. CUSTOMER THEN STATES HE WAS ADVISED BY EX-IR IN MAY THAT FUNDS COULD NOT BE TRANSFERRED AND NEEDED TO BE SOLD TO COMPLETE THE TRANSFER. HE CLAIMED HE INSTRUCTED IR (EMPLOYED BY EDWARD JONES) TO LIQUIDATE THE INVESTMENT AND COMPLETE THE TRANSFER. Product Type: Alleged Damages: $25,000.00 Customer Complaint Information Date Complaint Received: 09/16/1998 Complaint Pending? No Status: Closed/No Action Status Date: 11/02/1998 Settlement Amount: Individual Contribution Amount: Summary: ©2013 FINRA. All rights reserved. CUSTOMER WAS ADVISED THAT EX-IR'S OFFICE MADE DILIGENT EFFORTS TO COMPLETE THE REQUESTED TRANSFER. THERE WERE DELAYS IN THE TRANSFER PROCESS THAT WERE UNUSUAL. HOWEVER CUSTOMER STATEMENTS INDICATE MONEY THAT WAS RECEIVED INTO HIS ACCOUNT WAS INVESTED IN STOCK FUNDS PER CUSTOMERS INSTRUCTION. SINCE THESE TRADES DID INDICATE CUSTOMER INTENT TO STAY IN MARKET CUSTOMER REQUEST THAT HE BE as of Tuesday, October 01, 2013. Report# 85165-27106 about GERALD J. OHALLORAN. Data current REIMBURSED FOR MARKET LOSSES 16
  19. 19. www.finra.org/brokercheck User Guidance SINCE THESE TRADES DID INDICATE CUSTOMER INTENT TO STAY IN MARKET CUSTOMER REQUEST THAT HE BE REIMBURSED FOR MARKET LOSSES RESULTING FROM DELAYED TRANSFER WAS REJECTED. Not Provided i Reporting Source: Broker Employing firm when activities occurred which led to the complaint: Allegations: CUSTOMER CLAIMED HE ADVISED EX-IR TO TRANSFER HIS SECURITIES TO JONES IN MARCH OF 1998. CUSTOMER THEN STATES HE WAS ADVISED BY EX-IR IN MAY THAT FU NDS COULD NOT BE TRANSFERRED AND NEEDED TO BE SOLD TO COMPLETE TRANSFER. HE CLAIMED HE INSTRUCTED IR TO LIQUIDATE THE INVESTMENT AND COMPLETE THE TRANSFER. FUNDS WERE NOT LIQUIDATED UNTIL SEPTEMBER AND CUSTOMER CLAIMED DELAY RESULTED IN A $25,000 LOSS AND REQUESTS REIMBURSEMENT. Product Type: Alleged Damages: $25,000.00 Customer Complaint Information Date Complaint Received: 09/16/1998 Complaint Pending? No Status: Closed/No Action Status Date: 11/02/1998 Settlement Amount: Individual Contribution Amount: Summary: ©2013 FINRA. All rights reserved. CUSTOMER WAS ADVISED THAT EX-IRS OFFICE MADE DILIGENT EFFORTS TO COMPELTE REQUESTED TRANSFER. THERE WERE DELAYS THAT WERE UNUSUAL. HOWEVER CUSTOMER STATEMENTS INDICATE THAT MONEYS RECEIVED INTO HIS ACCOUNT WAS INVESTED IN STOCK FUNDS PER CUSTOMER INSTRUCTIONS. SINCE THESE TRADES INDICATED CUSTOMERS INTENT TO STAY IN MARKET HIS REQUEST THAT HE BE REIMBURSED WAS REJECTED. Report# 85165-27106 about GERALD J. OHALLORAN. Data current as of Tuesday, October 01, 2013. THE COMPANY HOLDING CUSTOMER'S SECURITIES AEGON 17
  20. 20. www.finra.org/brokercheck User Guidance CUSTOMERS INTENT TO STAY IN MARKET HIS REQUEST THAT HE BE REIMBURSED WAS REJECTED. THE COMPANY HOLDING CUSTOMER'S SECURITIES AEGON WENT OUT OF BUSINESS DURING THE ACAT TRANSFER. INITIALLY EVERYTHING WAS TRANSFERRED TO JONES. JONES THEN RETURNED TWO ASSETS THEY COULD NOT HOLD. DURING THIS TIME THE SECURITIES WERE TRANSFERRED TO NFSC. MAY SUBSEQUENT ACAT REQUEST TO LIQUIATE WERE IGNORED. AFTER MANY ATTEMPS AND WITH HELP FROM CUSTOMER'S FORMER BROKER, WE LOCATED A CONTACT ON AUG 24TH. CUSTOMER WAS NOTIFED AND THE LIQUDATION INITIATED. MY ASSISANT WAS ACTIVELY INVOLVED AND COULD PROVIDE SPECIFIC DATES. AFTERWARD NFSC TOLD US THEY WOULD NOT ACCEPT WRITTEN REQUEST. WE DID EVERYTHING WITHIN REASON. CUSTOMER TOLD ME TO LIQUIDATE AND ADD PROCEEDS TO HIS MUTUAL FUNDS. ©2013 FINRA. All rights reserved. Report# 85165-27106 about GERALD J. OHALLORAN. Data current as of Tuesday, October 01, 2013. 18
  21. 21. www.finra.org/brokercheck User Guidance Customer Dispute - Pending This type of disclosure event involves (1) a pending consumer-initiated, investment-related arbitration or civil suit that contains allegations of sales practice violations against the broker; or (2) a pending, consumer-initiated, investmentrelated written complaint containing allegations that the broker engaged in, sales practice violations resulting in compensatory damages of at least $5,000; forgery, theft, or misappropriation; or conversion of funds or securities. Disclosure 1 of 2 Reporting Source: Firm Employing firm when activities occurred which led to the complaint: Allegations: CUSTOMER CLAIMS SHE DID NOT AUTHORIZE IR TO REINVEST THE PROCEEDS OF A $35,000 BOND THAT WAS CALLED WHILE SHE WAS OUT OF THE COUNTRY. SHE ALSO CLAIMS SHE ADVISED IR THAT SHE WOULD NEED $75,000 SHE DEPOSITED INTO HER ACCOUNT TO BUILD A HOME. IR RECOMMENDED SHE INVEST THE $75,000 INTO AN A NNUITY. CUSTOMER HAS NOW BEEN ADIVSED THERE WILL BE A $4,300 WITHDRAWAL FEE AND TAX BILL IF SHE WITHDRAWS THE MONEY. WANTS TO BE MADE WHOLE. ON 12/18/98 A SECOND LETTER WAS RECEIVED FROM CUSTOMER IN WHICH SHE STATES SHE HAD RECEIVED INACCURATE INFORMATION FROM THE INSURANCE COMPANY ABOUT THE ANNUITY. SHE INDICATES SHE HAS BEEN ADVISED BY HER CPA THAT THE TAX INFORMATION SHE RECEIVED WAS NOT CORRECT AND SHE ALSO BELIEVES THE WITHDRAWAL FEE ALSO MAY NOT BE RIGHT. INDICATES SHE NOW WANTS TO LEAVE HER INVESTMENTS INTACT WHILE SHE CONFIRMS THE INFORMATION. Product Type: Alleged Damages: Customer Complaint Information Date Complaint Received: 11/23/1998 Complaint Pending? Yes Settlement Amount: Individual Contribution Amount: Summary: ©2013 FINRA. All rights reserved. Not Provided Not Provided Report# 85165-27106 about GERALD J. OHALLORAN. Data current as of Tuesday, October 01, 2013. 19
  22. 22. www.finra.org/brokercheck User Guidance Summary: Not Provided Not Provided i Reporting Source: Broker Employing firm when activities occurred which led to the complaint: Allegations: CUSTOMER CLAIMS SHE DID NOT AUTHORIZE IR TO REINVEST THE PROCEEDS OF A $35,000 BOND THAT WAS CALLED WHILE SHE WAS OUT OF THE COUNTRY. CUSTOMER ALSO CLAIMS SHE ADVISED IR THAT SHE WOULD NEED $75,000 SHE DEPOSITED INTO HER ACCOUNT TO BUILD A HOME. IR RECOMMENDED SHE INVEST THE $75,000 INTO AN ANNUITY. CUSTOMER NOW HAS BEEN ADVISED THERE WILL BE A $4300 WITHDRAWAL FEE AND TAX BILL IF SHE WITHDRAWS THE MONEY. WANTS TO BE MADE WHOLE. Product Type: Alleged Damages: Customer Complaint Information Date Complaint Received: 11/23/1998 Complaint Pending? Yes Settlement Amount: Individual Contribution Amount: Summary: ©2013 FINRA. All rights reserved. IN MAY 1997 HER ESTIMATED COST OF HER REMODELING WAS $25K-$35K. SINCE THIS MUCH WAS AVAILABLE I SUGGESTED INVESTING THE $75,000 IN HER ANNUITY FOR HER RETIREMENT. SHE AGREED. SHE ALSO SAID SHE HAD OTHER MONEY SHE COULD ALSO USE FOR REMODELING. IN APRIL, 1998, I TOLD HER THAT HER BOND MAY BE CALLED IN MAY. WE AGREED TO FIND ANOTHER WITH HALF, KEEP $5000 IN MM, AND ADD THE REMAINDER TO HER EXISTING ICA FUND. SHE WAS PLEASED WITH THE RESULTS WHEN WE REVIEWED HER ACCOUNT EARLY AUGUST 1998. HER PENALTY TO WITHDRAW $75,000 FROM HER ANNUITY IS $2775, NOT THE AMOUNT SHE WAS ADVISED. IF SHE USES HER BOND, ICA AND MM AS PLANNED ($45,000) HER PENALTY TO W/D THE DIFFERENCE WOULD BE $300. DEC 18, CUSTOMER NOTIFIED JONES TO LEAVE HER ACCT AS INVESTED, SHE'S USING OTHER MONEY FOR THE REMODELING. HER $75,000 INCREASED TO $105,000+, A 40% INCREASE. Report# 85165-27106 about GERALD J. OHALLORAN. Data current as of Tuesday, October 01, 2013. 20
  23. 23. www.finra.org/brokercheck User Guidance i Disclosure 2 of 2 Reporting Source: Firm Employing firm when activities occurred which led to the complaint: EDWARD D. JONES & CO., LP Allegations: CUSTOMER CLAIMS THAT IR WHILE EMPLOYED BY EDWARD JONES ENTERED ORDERS TO PURCHASE MUTUAL FUNDS IN HER ACCOUNT WITHOUT HER AUTHORIZATION. ALSO CLAIMS IR ADVISED HER THERE WOULD BE NO UPFRONT CHARGES OR COMMISSION FEES WHEN SHE REINVESTED HER PORTFOLIO. UPSET WITH THE OVER $20,000.00 IN UNREALIZED LOSSES ON HER INVESTMENTS. REQUESTS ASSISTANCE WITH NO AMOUNT MENTIONED. Product Type: Alleged Damages: Customer Complaint Information Date Complaint Received: 09/28/1998 Complaint Pending? Yes Status: Denied Status Date: 11/03/1998 Settlement Amount: Individual Contribution Amount: Summary: ©2013 FINRA. All rights reserved. IR CLAIMS HE DISCUSSED THE MUTUAL FUNDS WITH THE CUSTOMER AND PROVIDED HER WITH PROSPECTUSES PRIOR TO THE INVESTMENT BEING MADE. THE DISCUSSION INCLUDED A DESCRIPTION OF THE COMMISSION. IR CLAIMS HE FOLLOWED THE CUSTOMERS INSTRUCTIONS WHEN THE MONEY WAS ACCEPTED INTO THE ACCOUNT. ALSO CLAIMS CUSTOMER'S HUSBAND CALLED ON CUSTOMER BEHALF TO CONFIRM INVESTMENTS WERE MADE. CUSTOMER RECEIVED CONFIRMS BUT DID NOT COMPLAIN UNTIL AFTER THE MARKET DROPPED. CLAIM DENIED. Report# 85165-27106 about GERALD J. OHALLORAN. Data current as of Tuesday, October 01, 2013. 21
  24. 24. www.finra.org/brokercheck User Guidance COMPLAIN UNTIL AFTER THE MARKET DROPPED. CLAIM DENIED. i Reporting Source: Broker Employing firm when activities occurred which led to the complaint: EDWARD D. JONES & CO., LP Allegations: CUSTOMER CLAIMS THAT IR ENTERED ORDERS TO PURCHASE MUTUAL FUNDS IN HER ACCOUNT WITHOUT HER AUTHORIZATION. ALSO CLAIMS IR ADVISED HER THERE WOULD BE NO FRONT CHARGES OR COMMISSION FEES WHEN SHE REINVESTER HER PORTFOLIO. UPSET WITH OVER $20,000 UNREALIZED LOSSES DOWN TO $150,000 ON AUGUST 1998 STATEMENT Product Type: Alleged Damages: Customer Complaint Information Date Complaint Received: 09/28/1998 Complaint Pending? Yes Status: Denied Status Date: 11/03/1998 Settlement Amount: Individual Contribution Amount: Summary: ©2013 FINRA. All rights reserved. IR CLAIMS HE DISCUSSED THE MUTUAL FUNDS WITH THE CUSTOMER AND PROVIDED HER WITH PROSPECTUSES PRIOR TO THE INVESTMENT BEING MADE. THE DISCUSSION INCLUDED A DESCRIPTION OF THE COMMISSIONS. IR CLAIMS HE FOLLOWED CUSTOMERS INSTRUCTIONS. ALSO CLAIMS HER HUSBAND CALLED ON HER BEHALF TO CONFIRM INVESTMNENTS WERE MADE. CUSTOMER RECEIVED CONFIRMS BUT DID NOT COMPLAIN UNITL AFTER THE MARKET DROPPED. CLAIM DENIED I HAVE NO ACCESS TO THE CLIENTS OR HER RECORDS. I CONTACTED GREAT AMERICAN. THEY SAID THERE WOULD BE NO PENALTY TO TRANSFER HER IRS. THE CUSTOMER MAY BE REFERRING TO THE TAXES Report# 85165-27106 about GERALD J. OHALLORAN. Data current as of Tuesday, October 01, 2013. THAT WERE REQUIRED TO BE WITHHELD ON HER TSA (SHES OVER 701/2). 22
  25. 25. www.finra.org/brokercheck User Guidance TO TRANSFER HER IRS. THE CUSTOMER MAY BE REFERRING TO THE TAXES THAT WERE REQUIRED TO BE WITHHELD ON HER TSA (SHES OVER 701/2). WE DID DUSCUSS THE UP FRONT FEES OF A VARIABLE ANNUITY. I ALSO EXPLAINED THE INDIVDUAL FUND FEES AND THE RECUDED ANNUAL EXPENSES COMPARED TO AN ANNUITY. WE AGREED TO THIS STRATEGY AND THE FUNDS. I REVIEWED THE BROCHURES AND THE PROSPECTUS WITH THEM BOTH THEY WENT NORTH. SEVERAL MONTHS LATER THE CUSTOMERS CALLED TO TELL ME ABOUT HER PENDING SURGERIES TO INSURE THAT THE FUNDS TRANSFERRED AND INVESTED, AND TO CONFIRM THE BENEFICIARY. USING FUNDS VS ANNUITY MY COMMISSION IS RECUDED BY ABOUT 1/3. ©2013 FINRA. All rights reserved. Report# 85165-27106 about GERALD J. OHALLORAN. Data current as of Tuesday, October 01, 2013. 23
  26. 26. www.finra.org/brokercheck User Guidance Employment Separation After Allegations This type of disclosure event involves a situation where the broker voluntarily resigned, was discharged or was permitted to resign after allegations were made that accused the broker of (1) violating investment-related statutes, regulations, rules or industry standards of conduct; (2) fraud or the wrongful taking of property; or (3) failure to supervise in connection with investment-related statutes, regulations, rules or industry standards of conduct. Disclosure 1 of 2 Reporting Source: Broker Employer Name: A. G. EDWARDS & SONS, INC. Termination Type: Permitted to Resign Termination Date: 05/05/2000 Allegations: IMPROPER HANDLING OF CUSTOMER COMMUNICATION. Product Type: Equity - OTC Other Product Types: Summary: CLIENT LETTER NOT GIVEN TO MANAGER. THE LETTER CONFIRMED AN ADJUSTMENT TO HER ACCOUNT. MY SHARED ASSISTANT HANDED ME THE LETTER THURSDAY, MAY 11, 2000, A SHORT TIME PRIOR TO MY LEAVING THE OFFICE FOR A 4-DAY ROTARY CONFERENCE. I ASSUMED SHE GAVE A COPY TO THE MANAGER AS THAT WAS THE ESTABLISHED PROCEDURE. I SHOULD HAVE ASSUMED THIS RESPONSIBILITY MYSELF. i Disclosure 2 of 2 Reporting Source: Broker Employer Name: EDWARD D. JONES & CO., L.P. Termination Type: Discharged Termination Date: 09/01/1998 Allegations: UNAPPROVED USE OF COMMUNICATIONS WITH THE PUBLIC AND FAILURE TO COMPY WITH RECORD KEEPING REQUIREMENTS. Product Type: Debt - Corporate Other Product Types: Summary: ©2013 FINRA. All rights reserved. UNANNOUNCED JONES AUDIT, UNSAT. TRADE CONFIRMS RETAINED IN TWO CLIENT FILES AT CLIENT REQUEST FOR THEM TO PICK UP LATER. MY ASST. FAX'D FUND COST BASIS W/O DISCLAMER, AND FUND INFO FOR INTERNAL USE ONLY. I INCORRECTLY USED ONE KEY STROKE AND SELECTED WRONG FUND INFO. CLIENT HAD REC'D Report# 85165-27106 about GERALD J. OHALLORAN. Data current as of Tuesday, October 01, 2013. PROSPECTUS THE DAY BEFORE. SENT BOND INVENTORY TO CLEINT. 24
  27. 27. www.finra.org/brokercheck User Guidance SELECTED WRONG FUND INFO. CLIENT HAD REC'D PROSPECTUS THE DAY BEFORE. SENT BOND INVENTORY TO CLEINT. COMPANY LATER CHANGED COMPUTER TO INT. USE ONLY. OLD, CANCELLED ANNUITIES RETAINED IN CLIENT FILE. ADV. RECEIPTS NOT AVAIL. THEY WERE IN OFFICE, BUT IT WAS PART-TIME EMPLOYEES DAY OFF, AND INSPECTOR COULD NOT LOCATE. JONES HAS ALL ONE-BROKER OFFICES AND SUPEVISION CONDUCTED FROM MO. FIRM DISCOVERED I RECEIVED A TRANSFER PROPOSAL, WITH LARGE BONUS, TO COMPETING FIRM. ©2013 FINRA. All rights reserved. Report# 85165-27106 about GERALD J. OHALLORAN. Data current as of Tuesday, October 01, 2013. 25
  28. 28. www.finra.org/brokercheck User Guidance End of Report This page is intentionally left blank. ©2013 FINRA. All rights reserved. Report# 85165-27106 about GERALD J. OHALLORAN. Data current as of Tuesday, October 01, 2013. 26

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