BROKER REPORT: Financial Advisor Catherine A. Sheridan Named in Arbitration Proceedings

11618726-business-woman-black-silhouette-hold-briefcaseThe securities fraud attorneys at Malecki Law are interested in hearing from investors who have complaints against stockbroker Catherine A. Sheridan.  Since April 2015, Ms. Sheridan has been employed and registered with Race Rock Capital, LLC, a broker-dealer, working out of the Boston, Massachusetts office, according to her publicly available BrokerCheck, as maintained by the Financial Industry Regulatory Authority (FINRA).

Per her BrokerCheck report, Ms. Sheridan was previously employed by North South Capital, LLC from 2010 to 2015, Sound Securities, LLC from 2007 to 2010 and Tradition Asiel Securities, Inc. from 2004 to 2007.

Ms. Sheridan was fined and suspended for two months from association with any FINRA member broker-dealer by FINRA according to a Letter of Acceptance, Waiver and Consent No. 2015044475901 (AWC).  According to the AWC, Ms. Sheridan violated Article V, Section 2(c) of FINRA’s By-Laws and FINRA Rules 1122 and 2010 for failing to timely file amendments to her U-4 to report tax liens.  According to the AWC, Ms. Sheridan resigned from North South Capital, LLC two days after she amended her U-4 to report a tax lien.  According to FINRA BrokerCheck records, Ms. Sheridan’s suspension started on May 16, 2016 and ends on July 15, 2016.

The BrokerCheck records also indicate that Ms. Sheridan has become the subject of two customer complaints.  As detailed in the BrokerCheck records,

“[t]he allegations stem from the CT Dept of Banking Decision that from 2007 until 2008, Ulysses Partners, through its members – Respondents [third party] and Catherine Ann Sheridan, allegedly participated in an investment fraud on existing accounting clients…”

In the first case, the customer alleged damages of $880,000 and in the second case the customer alleged damages of $1.4 million, according to the FINRA BrokerCheck records.

It also appears from the FINRA BrokerCheck records that a court action has been instituted arising from the same or similar allegations in the State of Connecticut Superior Court, including that in order to fund the business of Ulysses Partners, investors were sold “unregistered and allegedly unsuitable securities.”   A Connecticut Department of Banking Order to Cease and Desist, Order to Make Restitution, Notice of Intent to Fine and Notice of Right to Hearing, Docket No. CRF-13-8014-S alleges that Ms. Sheridan was paid approximately $2 million “for both business expenses and personal expenses unrelated to Ulysses.”