FINRA Sanctions James Kelly

Soreide Law Group is investigating possible investor claims against securities broker James Kelly (also known as James E. Kelly) [CRD: 2959343, Owings Mills, MD]. Notably, FINRA sanctioned the securities broker, who worked for Pruco Securities LLC. Here is a brief summary of FINRA’s allegations against James Kelly.

FINRA Sanctions Kelly

Evidently, on November 22, 2021, FINRA issued Case: 2020065022802 sanctioning James Kelly for infractions. Specifically, Kelly was issued a 2-week suspension as a securities broker, meaning FINRA disallowed him from maintaining an association with FINRA-member firms. Also, the financial regulator issued him a fine in the amount of $5,000. Notably, FINRA alleged that Kelly did not disclose a commission-sharing agreement with a registered representative.

Pruco Securities LLC Investor Accused Kelly Of Omissions

Also, on March 23, 2020, a Pruco Securities LLC client filed a complaint about Kelly. Namely, the client alleged that Kelly made omissions of material fact. Because of this, the client allegedly sustained damages on variable annuities. Therefore, the client requested compensation from Pruco Securities LLC or James Kelly. However, the broker denied this complaint.

Kelly Out At Pruco For Compensation Arrangement

Additionally, Pruco Securities LLC disaffiliated with Kelly on December 9, 2019. Allegedly, the firm cited Kelly’s client annuity referrals and compensation arrangement with a registered representative.

Pruco Securities LLC Investor Accused James Kelly Of Omissions

Also, on October 22, 2012, a Pruco Securities LLC client filed a complaint about James Kelly. Namely, the client alleged that Kelly made omissions of material fact and made unsuitable investment recommendations. Because of this, the client allegedly sustained damages on insurance products. Therefore, the client requested compensation from Pruco Securities LLC or Kelly. However, the broker denied this complaint.

Kelly Employment Information

Kelly worked for Pruco Securities LLC in Owings Mills, MD, as a securities broker from August of 2006 to December of 2019.

Damages Resulting From Pruco Securities LLC Securities Broker James Kelly?

Did you incur damages by investing with James Kelly? Get in touch with Soreide Law Group at (888) 760-6552 and speak with a securities lawyer about a possible recovery of your investment losses. Soreide Law Group, who has successfully recovered money for hundreds of investors in the United States, represents clients on a contingency fee basis and advances all costs. The firm will take the time to fully understand your situation and will carefully explain your legal options. Kelly and brokerage firms Kelly worked for deny any and all allegations of sales practice violations.