Paul William Murans (also known as Peace Murans) of Indianapolis Indiana a stockbroker formerly employed by UBS Financial Services Inc. has been referenced in a customer initiated investment related arbitration claim which has been resolved for $300,000.00 in damages founded on accusations that (1) securities transactions had been executed without the securities broker dealer’s permission (2) purchases or sales of investments had been made without the customer’s consent and (3) private securities transactions were unsuitable in view of the customer’s objectives for investing and tolerance for risk when Murans was employed by UBS. Financial Industry Regulatory Authority (FINRA) Arbitration No. 19-01973 (Sept. 9, 2019).
FINRA Public Disclosure indicates that Murans is the subject of three more customer initiated investment related disputes pertaining to allegations of his bad business practices during the period in which the stockbroker was employed by securities broker dealers including UBS. Specifically, a customer initiated investment related arbitration claim pertaining to Murans’ conduct has been settled for $75,000.00 in damages supported by allegations that when Murans had been employed by UBS, stock trades that he recommended contained risks beyond that which the customer was willing to take, and stocks and closed end funds transactions conflicted with the customer’s goals. FINRA Arbitration No. 16-02128 (Aug. 1, 2017).
Murans is additionally referenced in a customer initiated investment related complaint which has been resolved on June 21, 2018 for $250,000.00 in damages based upon accusations that trades were effected without approval by the customer, and life settlement transactions were unsuitable for the customer. An additional customer initiated related arbitration claim concerning Murans’ activities has been resolved for $355,000.00 in damages founded on accusations that between 2012 and 2017, transactions failed to be adequately supervised by the securities broker dealer, and energy investments were unsuitable for the customer in view of the customer’s objectives for investing and tolerance for risk. FINRA Arbitration No. 18-00599 (Nov. 29, 2018)
Also, prior securities broker dealer employer Merrill Lynch Pierce Fenner Smith Incorporated terminated Murans’ registration based upon allegations that the stockbroker engaged in an outside business activity which he neglected to disclose to the securities broker dealer, and securities transactions were effected by the stockbroker outside its auspices in violation of Merrill Lynch’s policies and procedures.
UBS discharged Murans on October 10, 2017 supported by allegations that the stockbroker neglected to comply with UBS’s directives as he engaged in an outside business activity which he neglected to disclose to the securities broker dealer, and he failed to report a customer complaint.
