Timothy O’Brien, with Feltl & Company, Suspended by FINRA
Have you lost money with financial advisor Timothy O’Brien? We are looking into allegations made about Timothy D. O’Brien from Inver Grove Heights, Minnesota. FINRA (the Financial Industry Regulatory Authority) suspended O’Brien from the securities industry for 45 days and fined him $10,000. FINRA alleged that O’Brien made two unauthorized trades in a customer account. It was alleged that O’Brien sold a limited partnership in a customer account and then purchased Class A share mutual funds for the client, without their knowledge or permission.
Timothy O’Brien was a financial advisor and registered representative of Feltl & Company from May 2012 to August 2020. He worked in a branch office in Inver Grove Heights, Minnesota. O’Brien has also been the subject of at least six customer complaints and four tax liens. O’Brien was also previously suspended by FINRA for 10 days in 2015 for unauthorized trades.
Brokerage firms like Feltl & Company have a responsibility to adequately supervise all representatives who are registered through their firm. Brokerage firms also must take steps to ensure that their financial advisors follow all securities rules and regulations, as well as internal firm policies. When brokerage firms fail to adequately supervise their registered representatives, they may be liable for investment losses sustained by customers.
Israels & Neuman PLC is a securities and investment fraud law firm with offices in Seattle, Washington; Denver, Colorado; Ann Arbor, Michigan; and Phoenix, Arizona. We represent investors in FINRA arbitration proceedings in all 50 states, including throughout Minnesota. Our attorneys have represented over one thousand investors against many brokerage firms in the past.