Public records provided by the Financial Industry Regulatory Authority (FINRA) on August 29, 2016 indicate that former Pennsylvania-based Signator Investors broker Brian Murphy is currently not licensed to act as a broker. The securities and investment fraud law firm Fitapelli Kurta is interested in hearing from investors who have complaints regarding Mr. Murphy (CRD# 2953503).
Brian Murphy has spent eight years in the securities industry and was most recently registered with Signator Investors in Yeardley, Pennsylvania (2015-2016). Previous registrations include MetLife Securities in Moorestown, Pennsylvania; AXA Advisors in Marlton, New Jersey; and Metropolitan Life Insurance Company in Mount Laurel, New Jersey. He is currently not registered with any state or firm.
According to his BrokerCheck report, Brian Murphy has received one customer complaint and one pending customer complaint.
In July 2016, a customer alleged Brian Murphy, while employed at MetLife Securities, “created a bogus website in efforts to defraud and customer did not authorize the withdrawals in a variable annuity commencing on or about July 2010.” The customer is seeking unspecified damages in the pending complaint.
In July 2016, Brian Murphy was terminated from Signator Advisors following allegations he admitted “to conducting what appears to be an unapproved outside business activity.”
In December 2015, a customer alleged Brian Murphy, while employed at Signator Investors, misrepresented material facts related to a variable annuity sale. The complaint settled in February 2016 for more than $13,800.
In 2014, Brian Murphy was terminated from MetLife following allegations he “represented that he had a professional designation that he had not earned.”
In 2000, Brian Murphy was “permitted to resign” from Pennsylvania Merchant Group following allegations involving “overpayment of unemployment compensation.”
FINRA rules dictate that brokers like Brian Murphy may not participate in outside business activities without providing written notice to their employer. Specifically, FINRA Rule 3270 states: “No registered person may be an employee, independent contractor, sole proprietor, officer, director or partner of another person, or be compensated, or have the reasonable expectation of compensation, from any other person as a result of any business activity outside the scope of the relationship with his or her member firm, unless he or she has provided prior written notice to the member, in such form as specified by the member.” Brokers who violate this rule may be subject to disciplinary activity.
If you have complaints regarding or have lost money investing with Brian Murphy, you may be entitled to recover your losses. Call the securities and investment fraud law firm Fitapelli Kurta at 877-238-4175 for a free consultation. Fitapelli Kurta takes every case on a contingency basis, which means Fitapelli Kurta only gets paid if and when you collect money. By law there may be a limited window to file your claim, so we recommend you avoid delay. Call 877-238-4175 now to speak to an attorney for free.