James Michael O’Brien aka Jay O’Brien (CRD #2534087, Registered Principal, Encinitas, California) submitted a Letter of Acceptance, Waiver and Consent in which he was suspended from association with any FINRA member in any capacity for 18 months. In light of O’Brien’s financial status, no monetary sanctions have been imposed. Without admitting or denying the findings, O’Brien consented to the described sanction and to the entry of findings that he participated in private securities transactions outside the regular course and scope of his employment with his member firm, and never provided notice to, nor did he receive approval from, the firm for these transactions. The findings stated that O’Brien referred investors to an entity that sold them securities in the form of promissory notes. The total dollar amount of the investments was $2,654,596. For these referrals, O’Brien received selling compensation totaling $125,416. The suspension is in effect from January 7, 2013, through July 6, 2014. (FINRA Case #2011027353201).