Timothy O’Brien

Date:

December 10, 2020

Type of alert:

FINRA AWC  

A former general securities representative at Feltl & Company recently consented to a Letter of Acceptance, Waiver, and Consent (AWC) to the Financial Industry Regulatory Authority (FINRA) Department of Enforcement to resolve allegations of violating FINRA Rule 2010.

FINRA alleges in the AWC that Timothy O’Brien, while associated with Feltl in Inver Grove Heights, Minnesota from May 2012 to August 2020, placed two unauthorized trades in a customer’s account. On October 27, 2017, he executed the sale of a limited partnership position in a customer’s account and purchased Class A shares of a mutual fund without authorizing this activity with the client. The client filed a complaint about the unauthorized trade but declined to reverse the transactions.

Without admitting or denying the allegations made against him, O’Brien consented to a 45-day suspension from associating with any FINRA member firm in any capacity and a $10,000 fine.

O’Brien’s FINRA BrokerCheck report reveals numerous tax liens, customer disputes, and regulatory disclosures. In 2014, he consented to a suspension for ten business days and a $5,000 fine for alleged discretionary trading in customer accounts without obtaining prior written authorization from the customers. His most recent customer dispute in July 2020 alleged unsuitable investments, overconcentration, misrepresentation, and excessive losses. The customer requested $450,000 and settled for $350,000.

Take the next steps to find out if you have a claim:

Step 1.

Talk to an Experienced Attorney Today

Call and speak to one of our attorneys* for a no-cost consultation to discuss your situation, answer your questions, and help you determine the next steps. This call usually takes about 15 minutes, but we are happy to talk to you as long as you would like!

Step 2.

Quick Review of Your Paperwork

If we think you might have a case, we will need to review a few basic documents. If we determine you have a case, then you will have the option to hire us as your attorneys to pursue it.

Step 3.

Signed Attorney/Client Agreement

If you decide to hire us to pursue your case, we will have you sign an attorney-client agreement so we can begin the process of trying to recover your losses.*

*In the vast majority of cases, our agreement is contingent – meaning you won’t owe us any money unless we recover money for you.


Request a Consultation

This site contains attorney advertising. The attorneys at ChapmanAlbin are licensed to practice law in Ohio and Michigan. Any reference to past cases or successes made herein should not be construed as a guarantee of any future outcome. Each client and each client’s case is unique, and no result or outcome is or can ever be guaranteed. The information provided in this website is offered for general information purposes only; it is not offered as and does not constitute legal advice in any way. // Disclaimer