Last Updated: December 2023 (New Port Richey, Florida)
Rudy Molnar Investigation Summary
Here’s what you need to know about New Port Richey, FL, stockbroker Rudolf Molnar:
- Name: Mr. Rudolf L. Molnar
- Current Employer: Ameriprise Financial Services
- Previous Firms: Securities America, AIG Retirement Advisors
- Function: Stock Broker/ Financial Advisor
- Aliases: Rudy Molnar
- Primary Location: New Port Richey, FL
- CRD 3211892
- Can Rudy Molnar be sued in FINRA arbitration: Yes
- Sanctioned by regulator: Yes
- Highest Settlement or Award: $13,500
- Pending Customer Dispute Seeks Damages of $65,000
Discuss your case with experienced investment fraud lawyer Bob Rex at (877) 224-3199 for a free consultation.
Did You Lose Money With Rudy Molnar As Your Stockbroker?
In 2023 a customer of Ameriprise Financial Services was paid $13,500 to resolve allegations that Rudy Molnar recommended an unsuitable, high commission, high-risk and speculative investment in FSKR, a business development company (BDC).
Another customer of Ameriprise currently has a FINRA arbitration pending which seeks damages of $65,000 and alleges that Rudy Molnar recommended an unsuitable, high risk and speculative alternative investment, FS Energy & Power (FSEP), a business development company (BDC).
Alternative Investments: These are assets that are not stocks, bonds or cash. Alternative investments generally fall within five categories: hedge funds, private capital, natural resources (oil and gas, energy), real estate (REITs) and infrastructure. They are typically less liquid that conventional investments, less regulated with higher fees and generally higher risk.
Rudy Molnar was fined $5,000 and suspended for a month by FINRA in 2012 who alleged that Molnar violated FINRA Rule 2010, Standards of Commercial Honor and Principles of Trade, when he impersonated four customers in order to expedite transfer of their accounts from his former firm to his new firm. State regulators in Virginia & Illinois have also sanctioned Molnar.
Allegations of Broker Misconduct Against Rudy Molnar
Customers of Rudy Molnar have alleged the following wrongdoing in connection with the handling of customer accounts:
- Unsuitable Investment Recommendation to purchase high commission, high risk and speculative alternative investments
- Unsuitable Investment Recommendation to purchase FS Energy & Power (FSEP)
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
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.
Recover Your Investment Losses Now With Rex Securities Law
If you have suffered investment losses in an account handled by Rudy Molnar, contact us for a complimentary consultation with an experienced securities lawyer to learn how you may be able to recover damages through FINRA arbitration.
With offices in Boca Raton, FL and Austin, TX, stockbroker fraud attorney Bob Rex provides representation to investors nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers, financial advisors and broker dealers.
If you have questions about how your account has been handled, call (877) 224-3199 to speak with an experienced securities attorney at no cost to you.
Most cases are handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.
