Did you suffer investment losses with Moloney Securities (CRD# 38535) (SEC# 801-64722, 8-48326)?
Galvin Legal, PLLC is launching an investigation on behalf of investors who may have suffered losses investing with Moloney Securities. If you suffered losses investing with Moloney Securities, then Galvin Legal, PLLC may be able to help you recover your losses in a Financial Industry Regulatory Authority (“FINRA“) arbitration claim.
If you suffered losses and would like a free consultation with a securities attorney, then please call Galvin Legal, PLLC at 1-800-405-5117.
As of July 7, 2020, Moloney Securities’s FINRA BrokerCheck Report contains the following:
7 Regulatory Event Disclosures
5 Arbitration Disclosures
UPDATE 7/25/2020: According to FINRA’s July 2020 Disciplinary Actions: “Moloney Securities Co., Inc. (CRD #38535, Manchester, Missouri) May 4, 2020 – An AWC was issued in which the firm was censured, fined $100,000 and ordered to pay $15,574.13, plus interest, in restitution to a customer. Without admitting or denying the findings, the firm consented to the sanctions and to the entry of findings that it failed to establish and maintain a supervisory system, including WSPs, reasonably designed to achieve compliance with FINRA’s suitability rule with respect to qualitative suitability and concentration in high-risk products. The findings stated that the firm’s WSPs contained a cursory discussion of monitoring for qualitative suitability, including procedures related to speculative, low-priced securities and no discussion of concentration in high-risk products. Further, the firm did not provide any training to its regional managers on reviewing the suitability of recommendations in such products, nor did it issue any instructional materials or alerts, such as compliance bulletins, addressing these issues. The electronic surveillance system provided to and utilized by the firm was not equipped to reasonably surveil for concentration in high-risk products or qualitative suitability. While the firm generally instructed regional managers to review transactions for potential suitability concerns, it did not provide reasonable guidance, written procedures or training programs to address how to conduct those reviews. The firm also failed to provide regional managers with reasonable automated tools that would have helped them perform those reviews. A firm registered representative recommended that senior customers purchase risky oil and gas limited partnerships and oil and gas exchange traded funds which caused them to become concentrated in these products. The firm’s electronic surveillance system did not flag the transactions for concentration issues, nor was the concentration questioned or reviewed by anyone at the firm. Similarly, an elderly customer accepted the representative’s recommendations to purchase oil and gas limited partnerships in accounts she held at the firm causing her to suffer unrealized losses of $15,574.13. The firm paid restitution totaling $195,500 to four of the senior customers. The findings also stated that the firm failed to establish and maintain a supervisory system reasonably designed to achieve compliance with applicable rules pertaining to the detection and prevention of a form of manipulative trading known as “marking the close.” The firm also failed to reasonably investigate two of its representatives who frequently executed purchase or sale orders of common stock of a thinly traded security at or near the close of the market. Subsequently, the firm revised and enhanced its supervisory system and procedures pertaining to the supervision and prevention of marking the close activity. (FINRA Case #2015046315102)”
Main Office Location
13537 BARRETT PARKWAY DRIVE
#300
MANCHESTER, MO 63021
UNITED STATES
Mailing Address
13537 BARRETT PARKWAY DRIVE
#300
MANCHESTER, MO 63021
UNITED STATES
Business Telephone Number
314-909-0600
If you suffered losses and would like a free consultation with a securities attorney, then please call Galvin Legal, PLLC at 1-800-405-5117.
Moloney Securities’s Direct Owners and Executive Officers
BRIAR GREEN HOLDINGS, INC., OWNER
HANCOCK, DONALD RALPH (CRD#:828811), CHIEF EXECUTIVE OFFICER,CHIEF FINANCIAL OFFICER, CHAIRMAN
KAYS, KENNETH KEITH (CRD#:265616), DIRECTOR
MEDLEY, JOSEPH RONALD JR (CRD#:2619119), INVESTOR/DIRECTOR
MOLONEY, EDWARD JOHN JR (CRD#:3188341), PRESIDENT & CHIEF OPERATING OFFICER/DIRECTOR
ROSEMAN, JEFFREY PATRICK (CRD#:6296481), VICE PRESIDENT/COMPLIANCE OFFICER
STEEL, GEORGE DONALD (CRD#:716992), INVESTOR/DIRECTOR
WIESER, RYAN MATHEW (CRD#:4940639), VICE PRESIDENT/DIRECTOR OF OPERATIONS/DIRECTOR
WRISBERG, CATHLEEN ANNE (CRD#:5861789), CHIEF COMPLIANCE OFFICER & COUNSEL
If you suffered losses and would like a free consultation with a securities attorney, then please call Galvin Legal, PLLC at 1-800-405-5117.
Due Diligence Requirement
FINRA requires broker-dealers to conduct due diligence on investments and to conduct a suitability analysis when recommending securities to a customer that takes into account the customer’s knowledge and experience. FINRA Rule 2111(a) states that “a member or an associated person must have a reasonable basis to believe that a recommended transaction or investment strategy involving a security or securities is suitable for the customer, based on the information obtained through the reasonable diligence of the member or associated person to ascertain the customer’s investment profile. A customer’s investment profile includes, but is not limited to, the customer’s age, other investments, financial situation and needs, tax status, investment objectives, investment experience, investment time horizon, liquidity needs, risk tolerance, and any other information the customer may disclose to the member or associated person in connection with such recommendation.”
Rule 2111 is composed of three main obligations: reasonable-basis suitability, customer-specific suitability, and quantitative suitability. Broker-Dealers that fail to conduct adequate due diligence on investments they recommend or that make unsuitable recommendations can be held responsible for the customer’s losses in a FINRA arbitration claim.
If you suffered losses and would like a free consultation with a securities attorney, then please call Galvin Legal, PLLC at 1-800-405-5117.
Request a Free Consultation with a Securities Attorney
If you suffered losses investing with Moloney Securities and would like a free consultation with a securities attorney, then please call Galvin Legal, PLLC at 1-800-405-5117.
This information is all publicly available and is being provided to you by Galvin Legal, PLLC.
Galvin Legal, PLLC is a national securities arbitration, securities mediation, securities litigation, securities fraud, securities regulation and compliance, and investor protection law practice. For more information on Galvin Legal, PLLC and its representation of investors, please visit www.galvinlegal.com or call 1-800-405-5117.
Formerly Known As, Aliases, and Affiliates
ADVANCED FINANCIAL SOLUTIONS, LLC, ARLINGTON FINANCIAL SERVICES, ARTISAN ASSET MANAGEMENT, ARTISAN ASSET MANAGEMENT, LLC, ASSET ALLIANCE FINANCIAL, BRIDGES FINANCIAL ASSOCIATES, BRIDGES FINANCIAL ASSOCIATES, INC., C&A FINANCIAL ADVISORS, CHRISTIANSON FINANCIAL ADVISORS, LLC, CORRIGAN-JONES & CO., CORRIGAN-JONES INVESTMENT ADVISORS, FIRST MID AMERICA, INC., FULCRUM INVESTMENTS, GILSTRAP FINANCIAL, GRAND GLAIZE WEALTH MANAGEMENT, GRESHAM GROUP, LLC, HERITAGE INVESTMENT MANAGEMENT LLP, HERITAGE INVESTMENT MANAGEMENT, LLP, INVESTMENT CENTER, INVESTMENT CENTER OF ESTES PARK, INVESTMENT CENTER OF ESTES PARK, INC., INVESTMENT CENTER OF TOMAHAWK, JCL CAPITAL MANAGEMENT, JCL CAPITAL MANAGEMENT, LLC, JIM RAIA INVESTMENT GROUP, KEKERIS FINANCIAL GROUP,LBW, INC., LITTLEWOOD FINANCIAL SERVICES, INC., MINNESOTA VALLEY INVESTMENTS, MOLONEY SECURITIES ASSET MANAGEMENT, MOLONEY SECURITIES CO., INC., MONETARY MANAGEMENT GROUP, INC., MONTIE & SPENCER INVESTMENT TEAM, MOSECO ASSET MANAGEMENT, PELLEY GROUP, PHILLIPS FINANCIAL SERVICES, PROFESSIONAL INVESTMENT MANAGEMENT, SALISH WEALTH MANAGEMENT, SECURUS, SECURUS SENIOR PLANNING SOLUTIONS, LLC, SENTINEL WEALTH MANAGEMENT, ST. CROIX CAPITAL MANAGEMENT, ST. CROIX CAPITAL MANAGEMENT, INC., ST. LOUIS ASSET MANAGEMENT, STERLING FINANCIAL, SUGAR CREEK INVESTMENT ADVISORY GROUP, LLC, SYNERGISTIC FINANCIAL, SYNERGISTIC FINANCIAL CENTER, TEAM DUNCAN FINANCIAL, THE RESOURCE PARTNERS GROUP, VANCE CAPITAL, WARREN FINANCIAL SERVICES, WESTPORT ADVISORY GROUP, ADVANCED FINANCIAL SOLUTIONS, LLC, ARLINGTON FINANCIAL SERVICES, ARTISAN ASSET MANAGEMENT, ARTISAN ASSET MANAGEMENT, LLC, ASSET ALLIANCE FINANCIAL, BRIDGES FINANCIAL ASSOCIATES, BRIDGES FINANCIAL ASSOCIATES, INC., C&A FINANCIAL ADVISORS, CHRISTIANSON FINANCIAL ADVISORS, LLC, CORRIGAN-JONES & CO., CORRIGAN-JONES INVESTMENT ADVISORS, FIRST MID AMERICA, INC., FULCRUM INVESTMENTS, GILSTRAP FINANCIAL, GRAND GLAIZE WEALTH MANAGEMENT, GRESHAM GROUP, LLC, HERITAGE INVESTMENT MANAGEMENT LLP, HERITAGE INVESTMENT MANAGEMENT, LLP, INVESTMENT CENTER, INVESTMENT CENTER OF ESTES PARK, INVESTMENT CENTER OF ESTES PARK, INC., INVESTMENT CENTER OF TOMAHAWK, JCL CAPITAL MANAGEMENT, JCL CAPITAL MANAGEMENT, LLC, JIM RAIA INVESTMENT GROUP, KEKERIS FINANCIAL GROUP,LBW, INC., LITTLEWOOD FINANCIAL SERVICES, INC., MINNESOTA VALLEY INVESTMENTS, MOLONEY SECURITIES ASSET MANAGEMENT, MOLONEY SECURITIES CO., INC., MONETARY MANAGEMENT GROUP, INC., MONTIE & SPENCER INVESTMENT TEAM, MOSECO ASSET MANAGEMENT, PELLEY GROUP, PHILLIPS FINANCIAL SERVICES, PROFESSIONAL INVESTMENT MANAGEMENT, SALISH WEALTH MANAGEMENT, SECURUS, SECURUS SENIOR PLANNING SOLUTIONS, LLC, SENTINEL WEALTH MANAGEMENT, ST. CROIX CAPITAL MANAGEMENT, ST. CROIX CAPITAL MANAGEMENT, INC., ST. LOUIS ASSET MANAGEMENT, STERLING FINANCIAL, SUGAR CREEK INVESTMENT ADVISORY GROUP, LLC, SYNERGISTIC FINANCIAL, SYNERGISTIC FINANCIAL CENTER, TEAM DUNCAN FINANCIAL, THE RESOURCE PARTNERS GROUP, VANCE CAPITAL, WARREN FINANCIAL SERVICES, WESTPORT ADVISORY GROUP
