Erez Law is investigating Union Capital Company broker Gerald O’Halloran (CRD# 1056697) regarding unsuitable investment recommendations. He has been registered with Union Capital Company in Punta Gorda, Florida, since 2018. He was registered with Kovack Securities Inc. in Punta Gorda, Florida, from 2004 to 2018, Financial Investment Analysts, Inc. in Pittsburgh, Pennsylvania, from 2002 to 2004, A. G. Edwards & Sons, Inc. in St. Louis, Missouri, from 1998 to 2000, when he was terminated regarding, “improper handling of customer communication.” He was registered with Edward D. Jones & Co., L.P. in St. Louis, Missouri, from 1992 to 1998, when he was terminated regarding, “unapproved use of communications with the public and failure to company with record keeping requirements.”
In June 2018, the Florida Office of Financial Regulation sanctioned him to pay a $4,000 civil and administrative penalty and fine following allegations that he failed “to observe high standards of commercial honor and equitable principles of trade, failure to report an outside business activity, and failure to update Form U-4.”
Gerald O’Halloran Customer Complaints
He has been the subject of 11 customer complaints between 1998 and 2024, one of which was closed without action, according to his CRD report. The most recent complaints were regarding:
June 2024. “Allegation is Unsuitable product purchased in 2020.” The customer is seeking $120,000 in damages, and the case is currently pending.
July 2022. “Jackson National sent Union Capital a letter they received from Client. Client alleges unsuitable variable annuity.” The customer is seeking $10,000 in damages, and the case is currently pending. The complaint was regarding variable annuities, and it took place while he was registered with Union Capital Company.
October 2021. “Claimant alleges that Representative recommended unsuitable investments and conducted unauthorized activity.” The customer sought $100,000 in damages, and the case was settled for $25,000. The complaint was regarding LPs and BDCs, and it took place while he was registered with Kovack Securities Inc. and Union Capital Company.
January 2020. “Client’s daughter alleges that representative sold unsuitable high risk investments.” The customer sought $90,000 in damages, and the case was settled for $24,000. The complaint was regarding common and preferred stocks and real estate securities, and it took place while he was registered with Kovack Securities Inc.
August 2016. “Client alleges negligence, misrepresentation, omission of a material fact, negligent supervision, breach of fiduciary duty & breach of contract.” The customer sought $135,000 in damages, and the case was settled for $60,000. The complaint was regarding real estate investment trust (REIT), and it took place while he was registered with Kovack Securities Inc.
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, Union Capital Company may be liable for investment or other losses suffered by Gerald O’Halloran’s customers.
Erez Law represents investors in the United States for claims against brokers and brokerage firms for wrongdoing. If you 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.
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