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Michael Gilhooly: Pasadena Financial Advisor Barred by FINRA
A disciplinary action taken by the Financial Industry Regulatory Authority against former South Pasadena, California broker and investment advisor Michael Gilhooly (CRD# 2452559) barred him after finding he refused to provide testimony during its investigation into potential trading violations. A former representative of RJJ Pasadena Securities, Gilhooly was barred from acting as a broker or otherwise associating with a broker-dealer firm.
According to a Letter of Acceptance, Waiver and Consent (No. 2017053556901) dated July 2018, FINRA launched an examination in 2017 into Michael Gilhooly’s trading activity in multiple accounts to determine whether he participated in “conduct that violated federal securities laws or regulations or FINRA rules.” In connection with this examination, Gilhooly provided FINRA with certain information in requested in August and November of that year. When FINRA sent him a request on June 14, 2018 for on-the-record testimony, however, Gilhooly indicated through counsel that he would not appear “at any time” for such testimony as requested. FINRA found this refusal to constitute a violation of FINRA Rule 8210, which states that no associated person shall fail to provide testimony requested by FINRA concerning matters under its investigation, and FINRA Rule 2010, which concerns standards of commercial honor and just and equitable principles of trade. As a result of the foregoing alleged conduct, Michael Gilhooly was barred from association with any FINRA member in any capacity.
Michael Gilhooly’s disclosure records list two other disciplinary actions against him. In 2008 the Washington Securities Division sanctioned him in connection to allegations he executed securities transactions without being properly registered; he was ordered to cease and desist and was fined $3,000. He also received a sanction that year from the Virginia Division of Securities in connection to allegations he executed securities transactions without proper registration; he was ordered to pay a fine of $3,000.
Michael Gilhooly is currently not registered as a broker or investment advisor. His employment history includes RJJ Pasadena Securities in South Pasadena, California; Sutro & Company in San Francisco, Califoria; Crowell Weedon & Company in Los Angeles, California; and Gilford Securities in New York, New York. He currently holds zero state licenses and has passed five securities industry qualification examinations.