Lawrence Eugene Murphy of Edison New Jersey a stockbroker formerly registered with Equity Services Inc. has been terminated on October 11, 2016 based upon a civil action having been filed against him containing allegations of fraud.
Financial Industry Regulatory Authority (FINRA) Public Disclosure confirms that on May 12, 2017, a customer initiated investment related civil action involving Murphy’s activities was settled for $635,000.00 in damages supported by accusations that Murphy breached his fiduciary duties to the customer, negligently transacted in the customer’s account and committed fraud in regard to the customer’s annuity and investment transactions.
Murphy was terminated from MSI Financial Services, Inc. on August 12, 2016 based upon allegations that he failed to conform to the policies of the company concerning the handling of customer account documentation. Murphy has been associated with International Assets Advisory LLC since October 13, 2016.
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