Roger Albert Taft Gallagher, of Purchase, New York, a stockbroker registered with Morgan Stanley, has been permanently barred by Financial Industry Regulatory Authority (FINRA) from associating with any FINRA member in any capacity because Gallagher refused to provide documents and information and to appear for testimony requested by FINRA in connection with an investigation concerning the allegations in a criminal indictment filed against him. Letter of Acceptance, Waiver, and Consent No. 2024083816801 (February 19, 2025).
According to the AWC, FINRA’s enforcement action against Gallagher originated from a tip to FINRA regarding a criminal indictment filed against Gallagher in the United States District Court for the Southern District of Florida. USA v. Gallagher, Docket No. 1:24-cr-20239.
In January 2025, FINRA requested that Gallagher provide documents and information and appear for testimony. Gallagher’s lawyer confirmed to FINRA on January 30, 2025, that Gallagher had received the requests but would not comply with them at any time.
FINRA Rule 8210 grants FINRA the authority to require stockbrokers under its jurisdiction to provide information and testify regarding matters under investigation. As a result of his refusal to cooperate, Gallagher violated FINRA Rules 8210 and 2010.
FINRA Public Disclosure shows that on March 10, 2021, a customer filed an investment related complaint involving Gallagher’s conduct in which the customer requested compensatory damages based upon allegations that Gallagher made misrepresentations of material fact in connection with the sale of stocks when Gallagher was associated with Morgan Stanley. The complaint was denied on July 21, 2021.
Gallagher was associated with Morgan Stanley in Purchase, New York, from December 14, 2012, to September 6, 2024. On August 9, 2024, Morgan Stanley discharged Gallagher based upon allegations that Gallagher was involved in undisclosed outside financial arrangements with a company.
