FINRA

Respondent Breslin failed to comply with an arbitration award or settlement agreement or to satisfactorily respond to a FINRA request to provide information concerning the status of compliance.

Letter

Suspension

All capacities

Indefinite

Continues until required payment is made or discharged.

1/11/2024

Pursuant to Article VI, Section 3 of FINRA By-Laws, and FINRA Rule 9554, Respondent Breslin is suspended on January 11, 2024 for failure to comply with an arbitration award or settlement agreement or to satisfactorily respond to a FINRA request to provide information concerning the status of compliance.

New Jersey Bureau of Securities

BRESLIN IS THE SUBJECT OF AN ORDER OF A SELF-REGULATORY ORGANIZATION EXPELLING HIM FROM A SELF-REGULATORY ORGANIZATION. BRESLIN ENGAGED IN DISHONEST OR UNETHICAL PRACTICES IN THE SECURITIES BUSINESS.

Order

Denial

Revocation

The agent registration of Timothy J. Breslin is REVOKED. The investment adviser representative registration of Timothy J. Breslin is DENIED. All exemptions contained in N.J.S.A. 49:3-50 subsection (a) paragraph 9, 10, and 11, and subsection (b), are hereby DENIED as to Breslin. The exemptions to the registration requirements provided by N.J.S.A. 49:3-56(b), N.J.S.A. 49:3-56(c), and N.J.S.A. 49:3-56(g), are hereby DENIED as to Breslin. Management.

FINRA

Without admitting or denying the findings, Breslin consented to the sanction and to the entry of finding that he provided falsified bank account statements and checks to FINRA in response to a request for documents, made false statements to FINRA in response to a request for information, and made false statements to FINRA in testimony requested. The findings stated that the requested information concerned the allegations in a Form U5 that was filed by Breslin's member firm which reported that Breslin had been discharged for initiating unfunded automated clearing house (ACH) transfers to his personal account and initially lacked candor regarding the same. In response to the request for information, Breslin stated that he had traveled with his brother and a friend and each of these individuals wrote him a check for $5,000 to reimburse him for expenses on the trip. Breslin claimed he deposited both checks into his bank account, but the checks bounced when he deposited them. However, Breslin's statements were false because he did not receive or deposit a $5,000 check from his brother or friend during the relevant period of the request. FINRA further requested that Breslin provide copies of the checks and that he identifies the corresponding check deposits on his bank account statements. Breslin responded with three falsified checks: the check from his brother; the check from his friend; and another $5,000 check from his friend, which purportedly replaced the prior check from his friend that bounced. On the check from Breslin's brother, Breslin altered the date and amount of the check and removed any identifiable information related to the check's deposit. For the checks from Breslin's friend, Breslin altered the amount and date of both checks and altered the deposit number of one of the checks. Breslin also provided a falsified copy of his bank account statement, listing deposits of the falsified checks. Specifically, Breslin inserted three deposits into the account statements, but the balance in his account did not change. Subsequently, FINRA requested and took Breslin's on-the-record testimony. The morning of Breslin's testimony, he produced another falsified version of his bank account statements. This time Breslin inflated the running balances listed on the statements to falsely reflect deposits of the checks he purportedly received from his brother and friend. Breslin also provided false testimony by claiming he had received and deposited checks from his brother and friend and that he had submitted genuine bank account statements and checks to FINRA.

Acceptance, Waiver & Consent(AWC)

Bar (Permanent)

All capacities

Indefinite

8/3/2023

B. RILEY WEALTH MANAGEMENT

Discharged

Individual provided falsified documents in response to a FINRA inquiry.

Raymond James & Associates, Inc

Discharged

Individual alleged to have initiated unfunded ACH transfers from unrelated financial institution to personal account at the firm, and initially lacked candor when asked regarding cause.

Client alleges her investment instructions were not followed. Allegation Activity Date: 3/05/2021

$55,000.00

PENNSYLVANIA CLIENT ALLEGES THAT INVESTMENTS RECOMMENDED BY THEIR ADVISOR, TIMOTHY BRESLIN, IN SEPTEMBER OF 2008 WERE MORE AGGRESSIVE THAN WAS APPROPRIATE, RESULTING IN DAMAGES ESTIMATED AT $200,000.

$200,000.00

CLAIM DENIED BY FIRM ON DECEMBER 15, 2010. ON REVIEW THE FIXED INCOME INVESTMENTS RECOMMENDED BY MR. BRESLIN APPEAR TO HAVE BEEN SUITABLE FOR CLIENT'S STATED GROWTH AND INCOME INVESTMENT OBJECTIVE.