Brian Patrick Murphy of Yardley Pennsylvania a stockbroker formerly registered with Signator Investors Inc. has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon accusations that he failed to respond to a request from FINRA concerning Murphy’s business activities. Case No. 2016050677201 (Jan. 30, 2017).
Murphy was initially suspended By FINRA on November 21, 2016, where he was provided until January 29, 2017 to request that his suspension by terminated. Murphy reportedly failed to request that his suspension be terminated by the deadline, resulting in FINRA imposing an automatic bar in all capacities.
FINRA Public Disclosure reveals that Murphy has been referenced in three customer initiated investment related disputes containing allegations of Murphy’s violative conduct during the time that he was employed by Signator Investors, Inc. and MetLife Securities Inc. Specifically, a customer initiated investment related complaint regarding Murphy’s activities was settled for $13,875.22 in damages supported by accusations that a variable annuity had been misrepresented by Murphy.
Thereafter, a customer filed an investment related civil action in the Superior Court of New Jersey in which the customer alleged that Murphy effected unauthorized transactions in the customer’s variable annuity account and engaged in a scheme to defraud the customer. Civil Action No. C-96-16 (Sept. 23, 2016). Moreover, on July 27, 2017, a customer filed an investment related complaint involving Murphy’s conduct where the customer requested more than $5,000.00 in estimated damages based upon allegations that the terms and conditions of variable annuity policy transactions had been misrepresented by Murphy.
FINRA Public Disclosure additionally confirms that Murphy has thrice been terminated from employment after accusations of his misconduct surfaced. Particularly, on November 5, 2014, Murphy was terminated from MetLife founded on allegations that he lied about having a professional designation. Then, on July 12, 2016, Murphy was terminated from Signator Investors, Inc. supported by accusations that he engaged in unauthorized outside business activities.
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