Publicly available records published by the Financial Industry Regulatory Authority (FINRA) and accessed on July 12, 2017 indicate that Florida and New Jersey-based National Securities broker Ralph Marra has been sanctioned by FINRA in connection to alleged rule violations. Fitapelli Kurta is interested in speaking to investors who have complaints regarding Mr. Marra (CRD# 2128560).
Ralph Marra has spent 26 years in the securities industry and has been registered with National Securities Corporation in Eatontown, New Jersey and Clearwater, Florida since May 2015. Previous registrations include Morgan Stanley in Shrewsbury, New Jersey; UBS Financial Services in Red Bank, New Jersey; Merrill Lynch in Red Bank, New Jersey; Dean Witter Reynolds in Purchase, New York; Prudential Securities Corporation in New York, New York; Donald & Company Securities in Tinton Falls, New Jersey; and Hibbard Brown & Company in New York, New York. He is a registered broker and investment adviser with 18 US states and territories.
According to his BrokerCheck report, he received one FINRA sanction, three customer complaints, and one pending customer complaint.
In May 2017 FINRA sanctioned him following allegations he “effected approximately 176 discretionary transactions in the accounts of six customers without obtaining prior written authorization from those customers, and without his member firm having accepted those accounts as discretionary in writing.” He was issued a 20-day suspension and a fine of $5,000.
In April 2016 a customer alleged Ralph Marra, while employed at Morgan Stanley, made unsuitable investment recommendations, misrepresented material facts, breached his fiduciary duty and executed unauthorized transactions. The customer is seeking $200,000 in damages in the pending complaint.
In 2015 a customer alleged Ralph Marra, while employed at UBS Financial Securities, breached contract, acted negligently, and breached his fiduciary duty. The complaint settled for $37,500.
In 2014 a customer alleged he, while employed at Morgan Stanley, participated in excessive trading. The complaint settled for $50,000.
If you or someone you know has a complaint regarding Ralph Marra, call Fitapelli Kurta at 877-238-4175 for a free consultation. You may be eligible to recoup lost funds. Fitapelli Kurta accepts every case on contingency: we only get paid if and when you collect money. Time to file your claim may be limited, so we recommend you avoid delay. Call 877-238-4175 now to speak to an attorney for free.