Stoltmann Law Offices is investigating Patrick Colligan, a registered broker with Oppenheimer & Company in Stamford, Connecticut. Mr. Colligan allegedly executed detrimentally excessive bond trades, and executed unauthorized transactions, on two separate occasions. These are both against securities laws and internal firm rules. A broker must only make trades that have been authorized by his firm and by the customer, and must not make excessive trades. If he does, his brokerage firm may be liable for losses on a contingency fee basis in the Financial Industry Regulatory Authority (FINRA) arbitration forum.
FINRA public, online records state that Mr. Colligan was previously registered with Oppenheimer & Co. in New York, New York from July 1992 until May 1995, Merrill Lynch in New York from April 1995 until October 1999, Citigroup Global Markets in New York from October 1999 until January 2008, Morgan Stanley in Greenwich, Connecticut from December 2007 until June 2009, Morgan Stanley in Greenwich from June 2009 until May 2012 and UBS in Stamford, Connecticut from May 2012 until April 2013. He is currently registered with Oppenheimer in Stamford, and has been since March 2013. He has two customer disputes against him.