Moloney Securities Corporation: 5 Customer Complaints, 6 Regulatory Actions
Public records provided by the Financial Industry Regulatory Authority (FINRA) and accessed on June 13, 2019 indicate that Missouri-based brokerage Moloney Securities Corporation has received customer complaints and regulatory sanctions in connection to alleged rule violations. Fitapelli Kurta is interested in hearing from investors who have complaints regarding Moloney Securities Corporation (CRD# 38535).
Established in Missouri in 1995, Moloney Securities Corporation is headquartered in Manchester, Missouri and registered with 51 US states and territories. The company is organized as a corporation and its fiscal year ends in December. According to the firm’s BrokerCheck report, Moloney Securities Corporation Corporation has received five customer complaints and six regulatory sanctions.
In 2016 the Securities and Exchange Commission sanctioned Moloney Securities Corporation in connection to allegations it violated securities law by failing, among other things, to have written compliance policies and procedures in place concerning its investment advisory business. In connection with these and other findings, the firm was censured and issued a fine of $34,000.
In 2017 a customer alleged the firm committed fraud, breached its fiduciary duty, misrepresented and omitted material facts, breached contract, made unsuitable investment recommendations, and failed in its supervisory duties in connection to investments in common stock and limited partnerships. The complaint resulted in an award to the customer of $300,000.
In 2016 the State of Missouri sanctioned the firm in connection to allegations it failed to update inaccurate application information. The firm was issued fine of $25,000.
In 2015 FINRA sanctioned the firm in connection to allegations it failed to quickly and effectively investigate the activities of one of its representatives once it learned of a complaint filed by a customer against the representative. The firm was censured and issued a fine of $15,000.
In 2014 FINRA sanctioned the firm in connection to allegations its supervisory system failed to address the sale or supervision of investments in non-traditional exchange traded funds, and additionally that it failed to perform due diligence of non-traditional ETF investments prior to its representatives’ recommendation and sale of such. In connection with these findings, the firm was censured and issued a fine of $20,000.
In 2013 a customer alleged Moloney Securities Corporation breached its fiduciary duty, misrepresented and omitted material facts, engaged in manipulation, recommended unsuitable investments, executed unauthorized investments, breached contract, failed in its supervisory duties, and acted negligently in connection to investments in common stock and mutual funds. The complaint resulted in an award to the customer of $273,119.
In 2005 the National Association of Securities Dealers sanctioned the firm in connection to allegations of TRACE reporting failures. It was censured and issued a fine of $21,000.
In 2003 a customer alleged Moloney Securities Corporation churned investments, made unsuitable investment recommendations, and failed in its supervisory duties. The complaint resulted in an award to the customer of $10,675.
If you have lost money investing with Moloney Securities Corporation, you may be able to recover your losses. Call Fitapelli Kurta at 877-238-4175 for a free consultation. All cases are taken on a contingency basis: Fitapelli Kurta only gets paid if and when you collect funds. Time to file your claim may be limited, so we encourage you to avoid delay. Call 877-238-4175 now to speak to an attorney for free.