James Brian Moran of Florham Park New Jersey a stockbroker currently employed by Capitol Securities Management Inc. is referenced in a customer initiated investment related arbitration claim which settled for $110,000.00 in damages supported by accusations that the customer was placed in unsuitable oil and gas and stock investments in addition to inappropriate mutual fund and over the counter equities products during the time Moran was associated with Capitol Securities Management. Financial Industry Regulatory Authority (FINRA) Arbitration No. 16-02737 (Feb. 8, 2018).
FINRA Public Disclosure confirms that Moran has been suspended for engaging in outside business activities and private securities transactions in violation of National Association of Securities Dealers (NASD) Rules 3030, 3040 and 2110; discharged from securities broker dealer, Merrill Lynch, for violating the firm’s policies in regard to customer loan arrangements; and identified in four more customer initiated investment related disputes pertaining to allegations of his misconduct.
In particular, a customer initiated investment related complaint involving Moran’s conduct was resolved for $20,000.00 in damages founded on accusations that when Moran had been employed by Merrill Lynch, the customers were steered towards investing in mutual funds that were inappropriate given the customers’ objectives for investing and tolerance for risk; and omissions had been made concerning risks of those mutual fund investments. Thereafter, a customer initiated investment related complaint concerning Moran’s activities settled for $10,000.00 in damages based upon allegations of unauthorized trading of stocks in the customer’s Merrill Lynch account.
Moreover, Moran is the subject of a customer initiated investment related complaint in which the customer requested unspecified damages supported by accusations that the customer had been placed in an inappropriate variable annuity product during the period in which Moran was associated with Capitol Securities Management Inc.
