The South Florida based law firm, Soreide Law Group, obtained the following summary of information from FINRA's website under, "Disciplinary and Other FINRA Actions, April 2016."
CHRISTOPHER B. KELLY (CRD# 2306054, Jupiter, Florida)
was assessed a deferred fine of $10,000 and suspended by FINRA for four months for allegedly borrowing $150,000 from clients which is in violation of his member firm’s borrowing policy.
FINRA’s findings stated that Christopher B. Kelly did not disclose his borrowing arrangement to the firm, let alone seek an exception to its prohibition on borrowing.
Also, FINRA’s findings stated that Kelly participated in a private securities transaction when he sold a $150,000 convertible preferred equity interest in his investment advisory business to an investor.
Kelly failed to provide his firm with prior written notice of the transaction.
The suspension is in effect from March 7, 2016, through July 6, 2016.
(FINRA Case #2014040813201)
Christopher B. Kelly was in the securities industry for 17 years and two of the firms are listed below:
12/2005 - 04/2014 LPL FINANCIAL LLC - JUPITER, FL
08/2003 - 12/2005 BANC OF AMERICA INVESTMENT SERVICES, INC. - BOSTON, MA
If you were a client of Christopher B. Kelly and experienced financial losses due to his recommendations, or of another broker or financial advisor, call the Pompano Beach, Florida-based Soreide Law Group and speak to an attorney at no cost to you, regarding the possibility of recovering your lost funds at: 888-760-6552.
The Soreide Law Group will represent clients nationwide in FINRA arbitrations.
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