A Severna Park, Md., man was fined $118,291 by financial regulators for violating securities regulations on churning and suitability, according to FINRA records.

The man, Brian James Kelly, was a registered representative, who was found to have engaged in excessive trading on a customer account for which he exercised effective control, records show. FINRA investigators also found that Kelly exercised discretion in the customer’s account without the member firm’s prior written authorization and misled his firm, which was not identified, by falsely answering compliance-related questionnaires.

Kelly recommended a trading strategy that offered “risks incompatible with the customer’s investment objectives and financial needs,” FINRA records state.

Kelly was fined $108,291.41 and suspended from association with any FINRA member for two years for the churning and suitability charges, and he was fined $10,000 and suspended from any association with FINRA members for 30 days for exercising discretion without written authority. The suspensions were to run concurrently.

The National Adjudicatory Council imposed the sanction after Kelly appealed a Office of Hearing Officers decision based on the FINRA findings, records show.