Ryan Michael Murnane of New York New York a stockbroker formerly employed by Alexander Capital L.P. is referenced in a customer initiated investment related arbitration claim where the customer requested $1,800,000.00 in damages supported by accusations that (1) recommendations of leveraged exchange traded funds and oil and gas investments were in no way suitable for the customer (2) trades had been effected on an unauthorized basis (3) the customer’s account was mismanaged and (4) a fiduciary duty had been violated by Murnane during the period in which he was associated with Alexander Capital LP and Woodstock Financial. Financial Industry Regulatory Authority (FINRA) Arbitration No. 18-03728 (July 9, 2019).
FINRA Public Disclosure reveals that Murnane is referenced in seven additional customer initiated investment related disputes concerning allegations of his misconduct when he was employed by securities broker dealers including Woodstock Financial Group, Rockwell Securities LLC, and J.P. Turner Company LLC. In particular, a customer initiated investment related complaint in regard to Murnane’s activities was resolved for $30,000.00 in damages founded on accusations of contractual and fiduciary obligations not being complied with; unsuitable stock and over the counter equities trades being placed in the customer’s account; churning of the customer’s investment portfolio; and fraudulent activities which led the customer to sustain losses.
Murnane is the subject of a customer initiated investment related complaint on January 12, 2017 in which the customer sought $63,000.00 in damages based upon allegations that when Murnane was associated with Woodstock Financial Group, the customer’s instructions had been disregarded and the customer sustained unwarranted losses on over the counter equities. On January 26, 2017, another customer filed an investment related complaint concerning Murnane’s activities where the customer requested unspecified damages supported by accusations that bad over the counter equities transactions were effected in the customer’s account; and Murnane was unresponsive to the customer’s requests of liquidating the investment account.
Murnane is also the subject of a customer initiated investment related arbitration claim in which the customer sought $1,300,000.00 in damages founded on allegations of the customer’s investment portfolio lacking balance or diversification; and instructions being disregarded by Murnane when he was employed by Woodstock Financial Group. FINRA Arbitration No. 18-03728 (Jan. 14, 2019).
In addition, FINRA Public Disclosure confirms that since May 26, 2017, Murnane has been subject of at least three disciplinary actions or investigations by securities regulators. In fact, Murnane was fined $300,000.00 and barred from being a stockbroker in the State of Montana according to an Order issued by the Montana Securities Commissioner based upon accusations of Murnane, inter alia: failing to abide by the terms of a heighted supervision arrangement; effecting fraudulent trades in a customer’s account; charging excessive fees or commissions; and placing trades in customer accounts on an unauthorized, excessive and unsuitable basis during the time that the stockbroker was associated with Rockwell Securities and Alexander Capital. Case No. SEC-2016-106 (Dec. 7, 2018). Murnane’s actions were found by the Commissioner to be violative of Montana Code Annotated Section 30-10-301 and Admin. R. Mont. 6.10.401(1).
Murnane has also been suspended from associating with any FINRA member in any capacity supported by allegations that he failed to provide information to FINRA personnel after it was requested of him; and after the stockbroker was already subject of at least five customer disputes and sanctions imposed by Montana Securities Commissioner. Case No. 2017052709901 (Feb. 12, 2018).
Murnane’s registration with Alexander Capital L.P. has been terminated on July 16, 2015. From July 15, 2015 to February 7, 2017, Murnane was registered with Woodstock Financial Group Inc., and from January 12, 2017 to April 3, 2017, he was employed again by Alexander Capital L.P.
