Securities Lawyers Blog
A FINRA disciplinary action against a brokerage firm resolves the regulator’s case, not the customers’ losses. Investors who held accounts at Nolan Securities Corp. during the periods covered by the actions below may have claims of their own. The securities arbitration attorneys at Gana Weinstein LLP represent investors in FINRA arbitration against brokerage firms and can review your accounts, free of charge, to tell you whether the conduct FINRA described affected you.
Nolan Securities is a small broker-dealer that advises companies on financial matters, including financing, securities offerings and private placements, and it does not carry customer accounts. Formed in Connecticut in 1990 and operating as Kelly Securities Corporation doing business as Nolan Securities, the firm is based in Monterey, Massachusetts.
Nolan Securities Corp. – By the Numbers:
- CRD #: 27984
- Regulatory Events: 4
- Broker Employees: 3
Nolan Securities Corp. – In the News:
FINRA v. Nolan Securities Corp. (Case #2020065188801) – Nolan Securities failed to provide for annual independent testing of the firm’s anti-money laundering (AML) compliance program from 2016 through 2019, in violation of FINRA Rules 3310(c) and 2010. Since at least 2016, Kelly has engaged in activities at Nolan Securities that require registration as an Investment Banking Representative (IB), despite not being registered with FINRA in that capacity. As a result, Kelly violated NASD Rule 1031 and FINRA Rules 1210 and 2010.
You do not have to accept investment losses caused by broker negligence or fraud. Gana Weinstein LLP represents investors, including customers of Nolan Securities Corp., in FINRA arbitration and in state and federal court, our consultations are free, and we welcome all inquiries.