BROKER REPORT: Robert Emmet Gill Is Fined $5,000 and Suspended from the Securities Industry for 30 Days

The securities fraud attorneys at Malecki Law are interested in hearing from investors who have complaints against stockbroker Robert Emmet Gill.  Mr. Gill is employed and registered with Chelsea Financial Services, a broker-dealer with an office in Tinton Falls, New Jersey, according to his publicly available BrokerCheck, as maintained by the Financial Industry Regulatory Authority (FINRA).  He was also previously registered with J.P. Turner & Company, LLC, Grayson Financial, LLC, M.S. Farrell & Company, Inc. and Investors Associates, Inc.  Grayson and Investors Associates were expelled from FINRA in 2006 and 1998, respectively.

According to his BrokerCheck report, a Letter of Acceptance, Waiver and Consent (AWC) was accepted by FINRA stating that Mr. Gill was fined $5,000 and suspended from associating with any broker-dealer for borrowing $100,000 from a customer without notifying his then-employer J.P. Turner & Company, in violation of industry rules.  Mr. Gill’s BrokerCheck report also discloses that he was “permitted to resign” from J.P. Turner based on the same allegations as those set forth in the AWC.

Mr. Gill’s BrokerCheck report sets forth that he was the subject of four customer disputes involving allegations of unsuitable investment recommendations, misrepresentations made and churning.  Three of those four disputes resulted in settlements of $700,000 (with Mr. Gill contributing $50,000 personally), $32,500 and $35,610, respectively, according to industry records.

Mr. Gill’s BrokerCheck report also the subject of the following prior disciplinary history:

  • On May 11, 2013, the New York State Department of Financial Services – Insurance fined Gill $750 for failing to disclose his criminal history on an insurance producer application and administrative actions taken by other state insurance departments.
  • On April 28, 2010, the Alabama Department of Insurance fined Gill $300 for providing incorrect information on the Uniform Application for Individual Insurance Producer License with regard to Gill’s NASD disciplinary history.
  • On April 20, 2004, Gill submitted an AWC in which, without admitting or denying the allegations, he consented to findings that he entered an unauthorized purchase of 350 shares of equity securities in violation of’ NASD Conduct Rule 2110 and IM-23104. Gill was fined $5,000 and was suspended from associating with any FINRA member firm in all capacities for 10 business days.

If you or a family member lost money that was invested with Mr. Gill, you are encouraged to contact the securities fraud lawyers at Malecki Law for a free consultation and case evaluation at (212) 943-1233.

Malecki Law has successfully brought securities actions on behalf of investors who suffered losses as a result of unscrupulous actions taken in their securities accounts, recovering millions of dollars for their clients.

Malecki Law takes a proactive and informed approach to the financial news of today: actively engaging in fact-finding analysis on prospective cases from around the world. Our thorough knowledge of securities law’s history and fine points makes us ideal consultants for investors who have suffered losses due to misadvice from their broker or other financial counsel.