South Florida Arbitration & Litigation Lawyer Blog
April 2011 FINRA Account Executive Enforcement Action:
Michael William Keleher (CRD #3244480, Registered Representative, Kenilworth, New Jersey, formerly licensed with Ing Financial Partners, Inc.) submitted an Offer of Settlement in which he was barred from association with any FINRA member in any capacity. Without admitting or denying the allegations, Keleher consented to the described sanction and to the entry of findings that he falsified elderly customers’ account information forms and used those forms to open commission-based brokerage accounts the customers did not authorize. The findings stated that Keleher made unauthorized transactions in customer accounts and received $16,694.28 in commissions. The findings also stated that Keleher paid $78,266 in commissions to an unregistered individual. (FINRA Case #2008013229701).
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