James Colleary Allegedly Failed to Supervise

James Colleary (CRD #: 5844640), a broker registered with Nationwide Planning Associates, is the subject of a regulatory action. This disclosure appears on his BrokerCheck record, accessed on October 22, 2024. Details concerning this regulatory action are provided below. 

Regulatory Action 

On August 20, 2024, Puerto Rico alleged that James Colleary had failed to uphold his supervisory duties as a supervisor with Nationwide Planning Associates. The regulator alleges that he failed to reasonably supervise an agent and that failure allegedly allowed the agent to cause serious harm to multiple investors by violating the Puerto Rico Uniform Securities Act and recommending unsuitable investments. 

Puerto Rico further alleged that the agent engaged in the switching of mutual funds and Unit Investment Trusts (UITs), unauthorized trading, and misrepresentation. 

Failure to Supervise

FINRA Rule 3110 requires that firms establish systems of supervision to maintain their compliance with securities regulations. This includes appointing supervisors and providing them with Written Supervisory Procedures (WSPs).

Background Information 

James Colleary has passed the following exams: 

• Series 66 Uniform Combined State Law Examination
• Series 99TO Operations Professional Examination 
• SIE – Securities Industry Essentials Examination 
• Series 7 General Securities Representative Examination  
• Series 14 Compliance Officer Examination 
• Series 53 Municipal Securities Principal Examination 
• Series 24 General Securities Representative Examination 

He is a registered broker in seven states and is a registered investment adviser in New Jersey. 

James Colleary has registered with three firms: 

• Nationwide Planning Associates (CRD #: 31029) 
• NPA Asset Management (CRD #: 131534)
• Abramenko & Company (CRD #: 21406) 

Kurta Law Can Help 

If you worked with James Colleary and have concerns about your investments, do not hesitate to contact us at 877-600-0098 or email info@kurtalawfirm.com for a free consultation. 

For nearly 20 years, Kurta Law has advocated for investors to recover their investment losses from brokers and brokerage firms. Kurta Law is a nationally recognized law firm that 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. Do not let securities fraud go unchecked. Start your recovery process today.