June 23 O’Connell told the office of the Secretary of the Commonwealth of Massachusetts that he decided to remain unregistered because “it was too expensive to stay registered for just seven clients,” according to the court documents. When a 69-year-old client decided to sell their house and buy a condo, O’Connell recommended taking out a 30-year variable interest rate mortgage on the new property and investing the house-sale proceeds with him. “If they do not accelerate payments, Client 1 will be a few months shy of 100 years old at the time the mortgage is paid,” Galvin’s office writes in court documents. “O’Connell’s recommendation… constitutes unethical and deceptive practices under Massachusetts law given the client’s age and investment profile.”