Ryan Michael Murnane, of Staten Island, New York, a stockbroker formerly registered with Woodstock Financial Group, Inc., was named in an investigation by the State of Montana Securities Department on February 1, 2017, in which Muranne’s conduct is under review for allegedly contacting a customer numerous times to solicit investment related business despite Murnane not having been registered in the state.
Financial Industry Regulatorily Authority (FINRA) Public Disclosure reveals that Murnane has been named in six customer initiated investment related disputes containing allegations of his misconduct while employed with Woodstock Financial Group, Rockwell Securities, LLC, and J.P. Turner & Company LLC. In particular, on August 14, 2013, a customer initiated investment related arbitration claim involving Murnane’s conduct was settled for $50,000.00 in damages based upon allegations that Murnane breached his fiduciary and contractual duties to the customer, committed margin fraud, effected transactions which were neither suitable nor authorized, and churned the customer’s investment account.
On August 14, 2012, a customer initiated investment related written complaint regarding Murnane’s activities was resolved for $17,739.00 in damages based upon allegations that Murnane effected trades in the customer’s account on an excessive and unauthorized basis, and caused the customer to sustain undue investment losses in reference to equity transactions. Subsequently, on August 27, 2013, a customer initiated investment related arbitration claim regarding Murnane’s activities was resolved for $50,000.00 in damages based upon allegations including breach of contract, breach of fiduciary duty, unsuitability, churning, margin fraud, and unauthorized transactions.
Moreover, on October 16, 2013, a customer initiated investment related written complaint involving Murnane’s conduct was settled for $30,000.00 in damages based upon allegations that Murnane churned the customer’s investment portfolio, effected transactions in the customer’s account which were not suitable, breached his contractual and fiduciary obligations owed to the customer, and defrauded the customer in reference to over-the-counter equity transactions.
On January 12, 2017, a customer filed an investment related written complaint regarding Murnane’s activities, in which the customer requested $63,000.00 in damages based upon allegations that Murnane failed to abide by the customer’s investment instructions concerning over-the-counter equities, which caused the customer’s balance to dwindle from $70,000.00 to $7,000.00. Further, on January 26, 2017, a customer filed an investment related written complaint involving Murnane’s conduct, based upon allegations that Murnane was responsible for the customer’s investment losses, and his firm failed to liquidate the customer’s account.
Murnane’s registration with Woodstock Financial Group, Inc. was terminated on February 7, 2017. Since January 12, 2017, he has been registered with Alexander Capital, L.P.
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