James B. Moran, of Florham Park, New Jersey, is subject to a pending customer dispute from May 11, 2016, in which a customer requested $167,640.35 in connection with allegations against Moran of effecting transactions in the customer’s account that were not suitable.
According to FINRA records, Moran has been subject to six additional disclosure incidents. On August 29, 1994, Moran settled a customer dispute for $20,000.00 after customers alleged that Moran sold unsuitable mutual fund investments to the customers. On May 27, 1999, Moran settled another customer dispute for $10,000.00 after he was alleged to have made several unauthorized trades in the customer’s investment account. Disclosure records also reveal that Moran settled a customer dispute on December 5, 1999, in which the customer received $282,500.00 in damages.
Moran’s former employer, Merrill Lynch, terminated him on November 17, 1999, in which the firm alleged that several of the firm’s clients who Moran serviced had made investments in business ventures that were outside the auspices of the firm. Merrill Lynch also claimed that Morgan received a loan from a client, when such loan was not approved by the firm and was in violation of Merrill Lynch’s policies.
On May 15, 2001, Moran was fined and suspended by The National Association of Securities Dealers, Inc. per a NASD Decision which contained findings that Moran engaged in unauthorized outside business activities and private securities transactions while associated with Merrill Lynch. The Decision stated that Moran’s conduct was violative of NASD Rules 2110, 3030, and 3040.
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