Keith Connolly Discloses Aegis, JD Nicholas Client Disputes

Investor Disputes Reportedly Concern Sales Practices Of Broker Keith Connolly

Soreide Law Group comes to you regarding the investment disputes alleging sales practice violations by broker Keith Lawton James Connolly (CRD#: 2667382, Melville, New York). Evidently, Connolly worked for firms JD Nicholas (2008 to 2015) and Aegis Capital Corp (2015 to 2019). It appears that investors filed disputes about his actions at those firms, among other firms. Let’s take a closer look at the allegations against the securities broker.

Aegis Capital Corp Client Alleges Unsuitable Investments By Keith Connolly

It appears that a client of Aegis Capital Corp complained about Keith Connolly in January 2020. The FINRA Arbitration Claim mainly alleges unsuitability. Basically, suitability concerns an investor’s risk tolerance, investment objectives, financial needs, and other important information. It is unclear what the client experienced damages from. However, Aegis Capital Corp agreed to pay the client $45,000 in an October 2021 settlement of this matter.

JD Nicholas Client Claims Negligence, Failure To Supervise

Notably, a client of JD Nicholas Associates alleged sales practice violations by Keith Connolly concerning equities and stocks. It appears that the Statement of Claim in this FINRA Arbitration Claim alleges churning, negligence, unsuitability, failure to supervise, and overconcentration. Evidently, JD Nicholas agreed to resolve this matter by paying $43,976 to the client. Still, the firm and securities broker deny the allegations, contending that the strategy aligned with the client’s goals.

Keith Connolly Purportedly Fails To Adhere To Duties In Client’s Account

Also, a JD Nicholas client took issue with Keith Connolly’s trading of stocks and over-the-counter equities. Namely, the client claimed that Connolly failed to follow his duties when creating, administering, and supervising the client’s accounts. Although Connolly alleges that the client's allegations are false, the securities firm agreed to settle the matter by making a $450,000 payment to the client in December 2015.

AF Financial Services Client Alleges Unauthorized Transactions

It appears that a client of AF Financial Securities disputed Keith Connolly’s sales practices. Allegedly, the securities broker engaged in churning and unauthorized transactions. The client also alleges omission of facts and mismanagement. Consequently, AF Financial Services agreed to compensate the client in the amount of $24,900. Connolly denies the allegations of sales practice violations.

Losses Through Keith Connolly?

Did you suffer losses because of securities broker Keith Connolly? If so, call Soreide Law Group at (888) 760-6552 and speak with a helpful securities lawyer about a potential recovery of your losses. Soreide Law Group represents clients on a contingency fee basis and advances all costs. The firm has recovered substantial compensation for hundreds of United States investors who have incurred losses from their financial advisors and securities brokers. Please note that Connolly denies all allegations of sales practice violations.