The law firm of Oakes & Fosher is presently investigating the alleged misconduct of former securities broker Donald Leary Jr. According to his publicly available FINRA BrokerCheck report, Donald Leary Jr. has been the subject of a FINRA sanction.

Donald Leary Jr. was a New York based securities broker. He worked in the securities industry for twelve years. During his career, he was registered with five different securities firms. He is no longer working as a registered securities broker in any fashion.

His Registrations

  • Roth Capital Partners (2004-2012)
  • Imperial Capital (2007)
  • Brookline Group (2012-2013)
  • Mission Capital (2013-2014)
  • New Albion Partners (2013-2016)

The Allegations

Donald Leary Jr. was officially sanctioned by FINRA in March 2018. The findings in this matter state that he allegedly engaged in an outside business activity that had not been approved by his member firm. Due to these allegations, he was fined $7,500 and suspended from acting as a securities broker in any fashion for a period of two months. He had been terminated from New Albion Partners a year and a half prior when the allegations first came to light.

What Does This Mean?

Securities brokers like Donald Leary Jr. are not allowed to engage in outside business ventures without disclosing the extent of their involvement to their member firm. This is because these types of activities can often corrupt securities broker’s integrity and lead them to recommending unapproved, private investments to member firm customers. Securities firms need to prevent investors from being harmed in this fashion and thus require their registered brokers to disclose this information prior to engagement. However, a broker’s failing to do this does not absolve the firm from liability. They are still responsible for monitoring their registered brokers and preventing them from engaging in any unauthorized activities.

Oakes & Fosher Can Help

Many investors are unaware of the legal recourse available to them after losing money due to securities broker fraud and/or negligence. The truth is that investors who have lost money in this fashion may actually be entitled to damages.

Oakes & Fosher dedicates its entire legal practice to helping investors across the nation. If you, or someone you know, have lost money investing with Donald Leary Jr., please contact Oakes & Fosher for a free and private consultation. Oakes & Fosher handles cases on a contingency basis, which means there are no fees charged unless we collect for you.