John Moy Investigation
March 2023-Boca Raton, FL
The FINRA records of John Kirkland Moy, an Newbridge Securities Corporation broker, discloses 3 final customer disputes, a pending customer dispute and two terminations from employment.
The Financial Industry Regulatory Authority (FINRA) is the agency that licenses and regulates stockbrokers and brokerage firms. FINRA requires brokers and brokerage firms to report customer complaints and disputes as well as regulatory sanctions. In addition brokers are required to disclose certain financial matters such as personal bankruptcies, judgments and liens.
In 3/2021, FINRA case #21-00584, filed by a National Securities Corp. – Moy’s previous employer – customer alleged suitability in connection with the recommendation to invest in an annuity. The case settled for $50,000 with $40,000 paid by Moy individually.
In 5/2017, FINRA case #17-01156, filed by a Merrill, Lynch, Pierce, Fenner & Smith (former employer of Moy)a customer alleged unsuitable investment recommendations. The case was settled for $65,000.
In 12/2022, FINRA case #22-02821, filed by a Newbridge Securities Corporation customer, alleges breach of fiduciary duty, negligence, negligent supervision, fraud and breach of contract and is seeking damages of $100,000-$500,000. The case is still pending.
Firms Have a Duty to Supervise their Financial Advisors (FINRA Rules 3110 & 2090)
Brokers and their firms have a duty to comply with the FINRA suitability rule which requires that they have a reasonable basis to believe that a recommendation is suitable for the customer. FINRA Rule 2111- suitability
In 4/2019 Moy was discharged from National Securities Corp. in response to allegations that Moy violated firm policies and procedures associated with the recommendation of variable annuity liquidations. .
In 3/2018 Moy was discharged from employment by Morgan Stanley in response to allegation regarding his transition from another firm, including client allegations involving opening of accounts.
Moy has been employed with Newbridge Securities Corporation since 6/2019. Before that time he was with International Assets Investment Management, National Securities Corp., Morgan Stanley and Merrill Lynch Pierce, Fenner & Smith.
If you have questions about an account handled by John Moy , call for a no charge consultation with an experienced securities attorney .
Rex Securities Law , with offices in Boca Raton, FL, and Austin, TX, provides representation to investors nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.
Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.
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