FINRA Investigates California Advisor Dennis B. McMurray for Unapproved Securities Sales
The White Law Group is investigating potential claims involving financial advisor Dennis B. McMurray.
According to the Financial Industry Regulatory Authority (FINRA), McMurray reportedly failed to provide FINRA-requested documents and information related to an investigation into the circumstances surrounding his termination from his member firm.
The findings stated that McMurray’s firm submitted a Form U5 terminating his registration and disclosing an internal review of McMurray relating to private securities transactions/selling away.
“Selling Away” is the practice of soliciting investments in companies, promissory notes, or other securities that have not been approved by the advisor’s firm.
According to reports, McMurray engaged in several outside business activities including 2 Truths – a mobile application development company, and is a part owner of Veritas IQ, a marketing, networking and personal development company. It is unclear whether or not McMurray’s private securities activities involve these entities or others.
According to his FINRA BrokerCheck report, McMurray was registered with Girard Securities in Irvine, CA from October 2013 through September 2016 when he was dismissed due to “private securities transactions/selling away and for use of a non-approved email address in the conduct of securities business.”
Prior to that, McMurray was affiliated with LPL Financial in Rancho St. Margarita, CA from November 2008 until October 2013 when he was discharged for “violation of the firm’s signature policy.”
Investigating Potential Claims
The White Law Group is investigating the liability that McMurray’s employers may have for losses sustained by his clients. Brokerage firms are required to adequately supervise their agents to ensure they are complying with FINRA rules. If it is determined that the broker dealer failed to supervise their agent, they can be held responsible for losses in a FINRA arbitration claim.
FINRA operates the largest securities dispute resolution forum in the United States, and has extensive experience in providing a fair, efficient and effective venue to handle a securities-related dispute.
Are you concerned about investment losses with Dennis B. McMurray? The attorneys at The White Law Group may be able to help you. For a free consultation with a securities attorney, please call (888) 637-5510.
The foregoing information, which is all publicly available on FINRA’s website, is being provided by The White Law Group. The White Law Group, LLC is a national securities fraud, securities arbitration, investor protection, and securities regulation/compliance law firm with offices in Chicago, Illinois and Franklin, Tennessee.
For more information on The White Law Group, please visit www.whitesecuritieslaw.com.