Securities Lawyers Blog
The law offices of Gana Weinstein LLP are currently investigating claims that Broker John Noonan (Noonan) has been accused by investors of engaging in fraudulent misappropriation of their funds. According to records kept by The Financial Industry Regulatory Authority (FINRA), it appears that Noonan was employed by Merrill Lynch, Pierce, Fenner & Smith Incorporated at the time of the activity. If you have been a victim of Noonan’s alleged misconduct our firm may be able to assist you in recovering funds.
FINRA BrokerCheck shows a pending customer complaint on March 31, 2026.
Client/Ex-spouse alleges misappropriation involving activity in jointly held and individual accounts from February 2022 through March 2026.
Our legal team has a wealthy experience handling cases where advisors defraud clients by securing loans or selling securities through OBAs. The practice of selling unapproved investments, promoting fraudulent schemes to hide misused funds, and engaging in other deceptive acts is known in the industry as “selling away,” a major infraction of securities laws. The industry defines “selling away” as a practice where a financial advisor offers investments in securities, companies, or promissory notes that have not been authorized by their brokerage firm. While some of these investments may have a degree of legitimacy, they often turn out to be Ponzi schemes or involve advisors misappropriating funds.
However, federal securities laws and the FINRA rules require firms to monitor and supervise its employees in order to detect and prevent brokers from offering investments in this fashion. To effectively supervise their brokers, each firm must implement procedures to monitor advisors’ activities and interactions with the public. Selling away misconduct often occurs where brokerage firms either fail to put in place a reasonable supervisory system or fail to actually implement that system. Supervisory failures allow brokers to engage in unsupervised misconduct that can include all manner improper conduct including selling away.
In cases of selling away the investor is unaware that the advisor’s investments are improper. In many of these cases the investor will not learn that the broker’s activities were wrongful until after the investment scheme is publicized, the broker is fired or charged by law enforcement, or stops returning client calls altogether.
Noonan entered the securities industry in 2004. Noonan has been registered as a Broker with Merrill Lynch, Pierce, Fenner & Smith Incorporated since 2004.
Investors who have suffered losses are encouraged to contact us at (800) 810-4262 for consultation. At Gana Weinstein LLP, our attorneys are experienced representing investors who have suffered securities losses due to the mishandling of their accounts. Claims may be brought in securities arbitration before FINRA. Our consultations are free of charge and the firm is only compensated if you recover.