Soreide Law Group obtained the following complaint information from FINRA’s website under the February 2017 Disciplinary Report:
(Issuance of a disciplinary complaint represents FINRA’s initiation of a formal proceeding in which findings as to the allegations in the complaint have not been made, and does not represent a decision as to any of the allegations contained in the complaint. Because these complaints are unadjudicated, you may wish to contact the respondents before drawing any conclusions regarding the allegations in the complaint.)
Michael Timothy Dolan (CRD #1209079, St. Paul, Minnesota)
was named a respondent in a FINRA complaint alleging that he participated in the sale of at least $850,000 of membership interests in a hedge fund, Pennington Capital Management (PC), to six individuals, five of whom were clients of his member firm, DOUGHERTY & COMPANY, without prior notice to the firm.
The FINRA complaint alleges that Dolan never received permission from anyone at DOUGHERTY & COMPANY to participate in any manner in the offering. The firm detected Dolan’s involvement with the hedge fund during a supervisory review of Dolan’s email and then conducted an investigation. DOUGHERTY & COMPANY issued Dolan a written warning and special supervision notice in which it disciplined Dolan for his alleged solicitation of Pennington Capital Management (PC). The firm advised Dolan that his solicitation of the investment violated the firm’s written policies and procedures. It also required Dolan to pay a $25,000 penalty to the firm, complete assigned training courses and remain subject to special supervision.
(FINRA Case #2013039306601)
According to FINRA’s BrokerCheck, Michael Timothy Dolan, has had 33 years of experience in the securities industry and was listed with 5 firms, He has been registered with his current firm since 9/30/1997:
DOUGHERTY & COMPANY LLC
90 SOUTH SEVENTH STREET, SUITE 4300
MINNEAPOLIS, MN 55402
If you’ve experienced investment losses due to the recommendations or actions of Michael Timothy Dolan of DOUGHERTY & COMPANY in Minneapolis, or the purchase of Pennington Capital Management (PC), call Soreide Law Group for a no-cost consultation regarding the possible recovery of your financial losses at: 888-760-6552.
Soreide Law Group operates on a contingency fee basis and represents clients nationwide before FINRA.
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