Erez Law is currently investigating former National Securities Corporation broker Thomas Kelly (CRD# 2877415) regarding unsuitable investment recommendations. Kelly has been registered with Aegis Capital Corp. in New York, New York since May 2018. Previously, Kelly was registered with National Securities Corporation in New York, New York from 2008 to 2018.
Kelly has been the subject of 14 customer complaints between 2003 and 2020, two of which were closed without action and one was withdrawn, according to his CRD report. Recent complaints are regarding:
- February 2020. “Suitability, negligence, misrepresentation & omissions.” The customer is seeking $33,000 in damages in this pending customer complaint.
- March 2019. “Time frame: unspecified. Unauthorized trading, suitability.”
- November 2018. “Suitability, unauthorized trading, breach of fiduciary duty and negligence.” The customer is seeking $500,000 in damages and the case is currently pending. This case is regarding common and preferred stocks.
- October 2018. “Time frame: unspecified. Claimant alleges misrepresentation, negligence, breach of fiduciary duty.” The customer is seeking $230,000 in damages and the case was settled for $30,000. This case is regarding common and preferred stocks.
- August 2018. “Time frame: unspecified. Claimant alleges unsuitable recommendations, misrepresentations, omissions, breach of fiduciary duty, negligence and breach of contract.” The customer is seeking $750,000 in damages and the case was settled for $200,000. This case was regarding equity OTC.
- July 2018. “Time frame: unspecified. Excessive trading.” The customer is seeking $211,844.00 in damages and the case was settled for $12,000.
Pursuant to FINRA Rules, member firms are responsible for supervising a broker’s activities during the time the broker is registered with the firm. Therefore, National Securities Corporation may be liable for investment or other losses suffered by Kelly’s customers.
Erez Law represents investors in the United States for claims against brokers and brokerage firms for wrongdoing. If and have experienced investment losses, please call us at 888-840-1571 or complete our contact form for a free consultation. Erez Law is a nationally recognized law firm representing individuals, trusts, corporations and institutions in claims against brokerage firms, banks and insurance companies on a contingency fee basis.