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FINRA Suspends Ryan Michael Murnane

Broker Ryan Michael Murnane (CRD #4784140) has been suspended by FINRA for failure to provide requested information. The suspension was enacted on 02/12/2018. Since no action has been taken in the three-month period, the suspension has become a bar as of April 20, 2018. Murnane’s last employer of record was Alexander Capital LP (CRD #40077) of New York, NY, from 01/12/2017 through 04/03/2017. He is not currently registered with any broker-related firm.

Murnane’s previous employment history includes:

  • Woodstock Financial Group (CRD #38095), of Staten Island, NY, from 07/15/2015 through 02/07/2017. Murnane was discharged from this position; see details below.
  • Alexander Capital LP (CRD #40077) of New York, NY, from 11/25/2013 through 07/16/2015
  • Rockwell Securities (CRD #142483) of New York, NY, from 10/18/2010 through 12/03/2013
  • P. Turner & Company, L.L.C. (CRD #43177), of Hauppauge, NY, from 02/24/2006 through  11/09/2010
  • Granite Associates, Inc. (CRD# 46682) of Melville, NY, from 02/11/2005 through 03/02/2006
  • W. Bach & Company (CRD#:43522) of Port Washington, NY, from 04/26/2004 through 02/17/2005

Murnane is the subject of several disclosures in addition to the aforementioned regulatory suspension.

  • The State of Montana’s Securities Commissioner issued two regulatory sanctions:
    • On 12/19/2017, the MSC began investigations against Murnane alleging: “unregistered salesperson; unauthorized trading; excessive trading; excessive fees; discretionary trading without written discretionary authority; securities fraud. This action is pending.
    • On 05/26/2017, the MSC began investigations against Murnane alleging: “excessive trading; unsuitable trading; unauthorized trading; excessive commissions; unethical and fraudulent trading; unregistered trading; failing to comply with a condition imposed by the Montana Securities Commissioner (Heightened Supervision Agreement)” This action is pending.
  • On 1/26/2017, a customer filed a dispute that the office and representative (Murnane) refused to close an account due to losses. This dispute was closed without any further actions taken.
  • On 01/12/2017, a customer filed a dispute that the representative failed to follow instructions. The client requested damages in the amount of $63,000. The dispute was later withdrawn.
  • On 1/10/2017, The Woodstock Financial Group discharged Murnane after allegations that he destroyed another registered representative’s computer. Murnane also failed to disclose a New York State tax lien to the firm. It was later discovered by FINRA.
  • Murnane has two tax liens—one filed on 11/22/2016 for $28,560.87, and one filed on 08/02/2016 for $31,715.23.
  • A customer filed a dispute on 9/24/2013, alleging “churning, breach of fiduciary duty, common law fraud, breach of contract. From January 2011 thru March 2012.” The customer requested damages in the amount of $100,000; the firm settled with the customer for $30,000.
  • A customer filed a dispute on 8/27/2012, alleging, “breach of fiduciary duty, negligence, securities fraud, common law fraud, breach of contract and prima facie tort.” The client requested damages in the amount of $584,672.30, and the firm settled for $71,116.00. Murnane was not named in the arbitration actions, denied any wrongdoing and did not contribute funds to the settlement.
  • A customer filed a dispute on 07/09/2012, alleging, “unauthorized trades, excessive trading, unnecessary losses.” The customer requested damages in the amount of $40,000; the firm settled for $ 17,739.00. Murnane agreed to reimburse the client for commissions generated during September of 2011.
  • A customer filed a dispute on 05/12/2012, alleging, “unauthorized transactions, margin fraud, churning, unsuitability, breach of contract and breach of fiduciary duty.” The customer requested damages of $160,000; the firm settled for $50,000, with no contribution from Murnane, who denied all the allegations.

Silver Law Group represents investors in securities and investment fraud cases. Our lawyers are admitted to practice in New York and Florida and represent investors nationwide to help recover investment losses due to stockbroker misconduct.  Most cases handled on a contingent fee basis. This means that you won’t any pay legal fees unless we are successful. Call us toll free at 800-975-4345, or user our online contact form to get in touch.

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