Publicly available records provided by the Financial Industry Regulatory Authority (FINRA) indicate that broker/advisor Martin Joseph Noonan, Jr. (CRD # 2982159) was recently barred from the securities industry by FINRA’s Department of Enforcement. The sanction occurred as a result of his refusal to cooperate in an investigation into unsuitable and excessive trading (“churning’). The Law Office of Kevin J. Deloatch, Esq. is interested in speaking with investors who have complaints regarding Mr. Noonan, Jr.
Registration Background for Martin Joseph Noonan, Jr.
Mr. Noonan, Jr. first became registered in the securities industry in 1997 and was most recently registered with El Segundo, CA based BMA Securities, LLC (CRD # 108219) from December 2013 to April 2020. His prior registrations include Equibond, Inc. (CRD# 37378) from January 2002 to December 2013 and NBC Financial, Inc. (CRD# 46087) from January 2001 to April 2001.
FINRA’s Allegations against Martin Joseph Noonan, Jr.
FINRA’s investigation led to Mr. Noonan, Jr. entering into a Letter of Acceptance, Waiver and Consent (AWC) with FINRA on May 21, 2020. According to the AWC, Mr. Noonan consented to, without either admitting to or denying, the following findings by FINRA’s Department of Enforcement:
- “FINRA began an investigation after reviewing a Dispute Resolution Statement of Claim filed against [Mr.] Noonan, Jr. and BMA alleging unsuitable and excessive trading in a client account”;
- “…[O]n April 3, 2020, F1NRA staff sent a request to [Mr.] Noonan, Jr. for documents and information pursuant to FINRA Rule 8210”;
- “Although [Mr.] Noonan, Jr. initially cooperated with FINRA’s investigation, he ceased doing so in May 2020”;
- “As stated in a May 12, 2020 letter signed by [Mr.] Noonan, Jr., and by this agreement, [Mr. Noonan, Jr.] acknowledges that he received FINRA’s request and will not produce the information or documents requested”; and
- “By refusing to produce the information or documents as requested pursuant to FINRA Rule 8210, [Mr. Noonan, Jr.] has violated FINRA Rules 8210 and 2010”
FINRA Sanctions Martin Joseph Noonan, Jr.
As a result of such violations and in addition to the above described findings and conclusions, FINRA’s May 21, 2020 AWC also indicates that Mr. Noonan, Jr. consented to the following sanction:
- A bar from associating with any FINRA member firm in any capacity.
Martin Joseph Noonan, Jr. has a History of Complaints
In addition to the findings of FINRA’s Department of Enforcement, FINRA BrokerCheck for Mr. Noonan, Jr. reveals he has a history of customer complaints including but not necessarily limited to the following:
- On November 19, 2018 a customer initiated an arbitration against Mr. Noonan, Jr. alleging mismanagement and unsuitable and excessive trading, while registered with Equibond Inc. or BMA Securities LLC. The customer alleged damages in the amount of 250,000.00. The arbitration is currently pending.
If you or someone you know has or had a brokerage account with Mr. Martin Joseph Noonan, Jr. and have concerns regarding losses in your investments or possible sales practice violations including fraud, you may be entitled to recover lost funds. The Law Office of Kevin J. Deloatch, Esq. has an extensive securities law practice and over 30 years of experience on Wall Street. Call today at (646) 792-2156 for a free consultation. The time to file your claim may be limited so you should call today to avoid delay.