The law firm of Oakes & Fosher is presently investigating the alleged misconduct of former securities broker Stephen Murray. According to his publicly available FINRA BrokerCheck report, Stephen Murray has been the subject of multiple customer disputes.
Stephen Murray was a Florida based securities broker. He worked in the securities industry for forty-three years. During his career, he was registered with six different securities firms. He is no longer working as a registered securities broker in any fashion.
His Registrations
- Reynolds Securities (1973-1978)
- Morgan Stanley (1978-2003)
- Banc of America Investment Services (2003-2009)
- First Financial Equity Corporation (2010)
- Morgan Keegan & Company (2010-2013)
- Raymond James & Associates (2013-2016)
The Allegations
- In January 1994, a customer alleged that Stephen Murray violated various securities laws. These alleged transgressions took place between 1990 and 1994. This case was settled for $15,000 in damages.
- In February 2011, customers alleged that Stephen Murray made material misrepresentations and unsuitable investment recommendations. This case was settled for $23,000 in damages.
- In June 2013, a customer alleged that Stephen Murray engaged in excessive trading. This case was settled for $10,000 in damages.
- In May 2017, a customer alleged that Stephen Murray churned their account, executed unauthorized trades, handled their account negligently, violated FINRA rules, breached contract, and breached his fiduciary duty. This case was settled for $60,000 in damages.
Stephen Murray was later barred by FINRA from acting as a securities broker in any fashion.
Oakes & Fosher Can Help
Many investors are unaware of the legal recourse available to them after losing money due to securities broker fraud and/or negligence. The truth is that investors who have lost money in this fashion may actually be entitled to damages.
Oakes & Fosher dedicates its entire legal practice to helping investors across the nation. If you, or someone you know, have lost money investing with Stephen Murray, please contact Oakes & Fosher for a free and private consultation.
