Richard Aloysius Juracka of New York New York a stockbroker currently registered with Morgan Stanley has been fined $50,00.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he effected unauthorized trades in Morgan Stanley customers’ accounts. Letter of Acceptance Waiver and Consent No. 2017055321601 (Nov. 20, 2018).
According to the AWC, in August of 2017, a call had been placed to FINRA’s Senior Helpline from a customer’s son who claimed that Juracka executed trades in the customer’s account without having consulted with the customer beforehand. The AWC stated that an investigation had then been conducted by Morgan Stanley and FINRA, which concluded that while Juracka had been employed by the firm, he exercised discretion in the accounts of seven customers between August of 2016 and July 2017.
The AWC stated that Juracka had not been provided written authorization from the customers to warrant his discretionary trading. Moreover, no written authorization had been provided by Morgan Stanley to Juracka confirming that the firm accepted the customer accounts as discretionary.
The AWC further revealed that in April of 2017, during the time that Juracka had been registered with Morgan Stanley, he was administered a compliance questionnaire that he falsely completed. In particular, Juracka confirmed with the firm that at no point did he engage in discretionary trading in customer accounts. Since Juracka had traded in the seven customer accounts without permission, FINRA found that Juracka’s conduct was violative of FINRA Rule 2010 and NASD Rule 2510(b).
FINRA Public Disclosure reveals that Juracka has been identified in two customer initiated investment related disputes containing accusations of Juracka’s violative conduct during the time that he was associated with Morgan Stanley. Particularly, on November 21, 2008, a customer filed an investment related complaint concerning Juracka’s activities where the customer requested $20,000.00 in damages based upon accusations that Juracka failed to honor the customer’s investment instructions. Thereafter, on August 4, 2017, a customer filed an investment related complaint involving Juracka’s conduct where the customer sought unspecified damages based upon allegations that unit investment trusts and exchanged traded funds were traded without authorization.
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