Jeffrey Hall Heely, Formerly of NMS Capital, Suspended by FINRA Over Alleged Undisclosed Outside Business Activity

Heely was suspended for two months based on allegations that he registered and incorporated a company without providing notice to his member firm.

The Sonn Law Group is investigating allegations that Jeffrey Heely engaged in an undisclosed outside business activity. If you or a family member has suffered losses investing, we want to discuss your case. Please contact us today for a free review of your case.

Jeffrey Heely (CRD#: 1188842) consented to the sanction of a two-month suspension and to the entry of findings that he engaged in an undisclosed outside business activity for which he received compensation.

The findings stated that without providing prior written notice to his member firm, Heely registered and incorporated a company. The company, through Heely, then entered into a contract with another business to raise money through a private placement offering of senior secured notes. 

Heely solicited potential investors, none of whom were firm clients, to invest in the offering. Although Heely’s outside business activities did not result in any investments, Heely received $17,000 as compensation for his work. Heely actively concealed his involvement with the company and the offering by conducting those activities through a personal email address and by falsely denying engaging in any outside business activities in communications with his firm.

Heely was also fined $5,000. Heely currently has one other disclosure on his BrokerCheck report.

September 2019 Customer Dispute

• Status: Pending
• Allegations: “Representative Heely engaged with client without firm knowledge to enter into a private placement transaction. He signed an agreement on behalf of the firm on a non firm approved engagement agreement, using the wrong firm’s name. He also accepted funds from the company outside the firm’s knowledge.”
• Damage Amount Requested: $40,000.00

The Sonn Law Group is currently investigating allegations that Jeffrey Heely engaged in undisclosed outside business activity. We represent investors in claims against negligent brokers and brokerage firms. If you or your loved one experienced investment losses, we are here to help. For a free consultation, please call us now at 866-827-3202 or complete our contact form.