(CRD #4560737, Conroe, Texas)

August 22, 2025 – An AWC was issued in which Joseph Kelly was fined $10,000, suspended from association with any FINRA member in all capacities for nine months, and ordered to pay $69,830, plus interest, in restitution to customers. Without admitting or denying the findings, Kelly consented to the sanctions and to the entry of findings that he willfully violated Reg BI in the case of one customer and violated FINRA Rules 2111 and 2010 in the case of three customers by recommending a series of trades that were excessive, unsuitable and not in the customers’ best interest. The findings stated that some of the customers relied on Kelly’s advice and routinely followed his recommendations, and as a result, Kelly exercised de facto control over their accounts. Kelly’s recommendations to the customers generated $365,344 in total commissions and caused $262,683 in total realized losses. The amount of restitution is equal to the total commissions charged to two of the customers as the remaining affected customers previously settled claims with Kelly’s member firm. The suspension is in effect from September 15, 2025, through June 14, 2026. (FINRA Case #2018056490332) If you have suffered losses as a result of Joseph Kelly's act and/or actions, we would like to hear from you. We are currently investigating claims on behalf of clients who have suffered significant losses in their portfolios that are managed by Joseph Kelly. The Schwartz Law Firm represents investors in claims against financial advisors and their firms. If you have questions about your potential claim or need assistance from an investment fraud lawyer, please contact us at 866-330-6707 or email Matthew Schwartz directly at mschwartz@tslfirm.com.