Massachusetts Places Conditions on Christopher O’Brien’s Registration
Christopher O’Brien (CRD #: 1995225), a broker registered with Kovack Securities, has had conditions placed on his registration in Massachusetts, according to his BrokerCheck record, accessed on March 30, 2023. If you have questions about his alleged conduct as a broker, read on.
Massachusetts Regulatory Action
On December 2, 2022, the Massachusetts Securities Division placed conditions on Christopher O’Brien’s registration following the disclosure of an internal review and his resignation from Securities America and sworn testimony before the Division regarding these disclosures and an inquiry by FINRA.
The Division entered a consent order that placed conditions on Christopher O’Brien’s registration requiring Kovack Securities to carry out the following reviews on a quarterly basis for 18 months:
- Randomly select the greater of ten or 10% of Christopher O’Brien’s Massachusetts customer accounts
- Review all of his emails, documents requiring client signatures, and all requests requiring client approval
- Obtain and review a written statement, signed by Christopher O’Brien, in which he indicates that he has not impersonated a client and that he has maintained proper records of all calls with third parties
Further, the firm compliance department’s annual audit must be conducted on-site and involve a review of the greater of ten or 10% of his Massachusetts client accounts, an in-person interview with Christopher O’Brien, and a review of his personnel file to ensure his compliance with the Division’s order.
Lastly, Kovack Securities must notify the Division of the result of FINRA’s inquiry.
FINRA Rule 2010
FINRA Rule 2010 holds brokers to high standards of commercial honor and just and equitable principles of trade.
Resignation from Securities America
On May 26, 2022, Christopher O’Brien was permitted to resign from Securities America after allegedly performing a task on a client’s behalf that should have been performed by the client. The client allegedly approved the activity without knowing it was a violation.
Background Information
Christopher O’Brien has passed the following exams:
- Series 63 – Uniform Securities Agent State Law Examination
- SIE – Securities Industry Essentials Examination
- Series 6 – Investment Company Products/Variable Contracts Representative Examination
Christopher O’Brien is a registered broker in six states.
He has also worked for the following firms:
- Securities America (CRD#:10205)
- Lincoln Financial Advisors (CRD#:3978)
- Ameriprise Financial Services (CRD#:6363)
- Investment Professionals (CRD#:30184)
- Infinex Investments (CRD#:35371)
- Investment Professionals (CRD#:30184)
- CCO Investment Services Corporation (CRD#:39550)
- Linsco/Private Ledger Corporation (CRD#:6413)
- IFMG Securities (CRD#:14416)
- Citizens Financial Services (CRD#:39550)
- FIS Securities (CRD#:30533)
- New England Securities (CRD#:615)
Kurta Law Can Help
If you worked with Christopher O’Brien and you have concerns about your investments, please contact us today at 877-600-0098 or info@kurtalawfirm.com for a free consultation.
For over 20 years, Kurta Law has advocated on behalf of investors who want to recover their investment losses from brokers and brokerage firms. Kurta Law is a nationally recognized law firm and exclusively represents investors against brokers and brokerage firms on a contingency basis. This means that the firm only earns a fee if our securities attorneys recover money on your behalf.