Michael Joseph Muratore of Ardsley New York, a stockbroker formerly registered with JP Morgan Securities, has been fined $25,000.00 and suspended for two years from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity founded on findings of Muratore’s forgery of annuities documents during the time that he was registered with JP Morgan Securities. Letter of Acceptance, Waiver, and Consent No. No. 2019063662701 (March 21, 2022).
According to the AWC, between January 2019 and March 2019, the signature and initials of a JP Morgan Securities customer had been forged by Muratore on 18 documents. Those documents concerned annuity sales and purchases. The AWC states that an investment switch form had also been falsified by Muratore in February of 2019.
Muratore violated FINRA Rules 2010 through his forgery and falsification of documents. Muratore also caused the securities broker dealer’s records and books to be inaccurate, violating FINRA Rule 2010 and 4511.
The AWC states that between June of 2018 and April of 2019, Muratore failed to tell JP Morgan Securities about his beneficiary status on a customer’s account. FINRA also states that when Muratore was employed by LPL Financial, he impersonated customers concerning a customer’s annuity, violating FINRA Rule 2010.
FINRA Public Disclosure shows that Muratore has been terminated as a stockbroker by four employers. FINRA Public Disclosure shows that he voluntarily resigned from Credit Suisse Securities supported by accusations of his improper trading in a customer’s account. He was discharged by JP Morgan on April 30, 2019, for unauthorized transactions of a personal nature. He was discharged by LPL Financial and Financial Resources Group Investment Services on February 3-4, 2021, based upon allegations of him impersonating a customer.
Muratore is also the subject of a customer initiated investment related complaint which was settled for $12,581.57 in damages supported by accusations of unauthentic customer signatures on documents relating to a managed account between January 30, 2019, and March 29, 2019, when Muratore was associated with JP Morgan Securities.