FINRA Suspends Ryan Michael Murnane

Broker Ryan Michael Murnane (CRD #4784140) has been suspended by FINRA for failure to provide requested information. The suspension was enacted on 02/12/2018. Since no action has been taken in the three-month period, the suspension has become a bar as of April 20, 2018. Murnane’s last employer of record was Alexander Capital LP (CRD #40077) of New York, NY, from 01/12/2017 through 04/03/2017. He is not currently registered with any broker-related firm.

Murnane’s previous employment history includes:

Woodstock Financial Group (CRD #38095), of Staten Island, NY, from 07/15/2015 through 02/07/2017. Murnane was discharged from this position; see details below.
Alexander Capital LP (CRD #40077) of New York, NY, from 11/25/2013 through 07/16/2015
Rockwell Securities (CRD #142483) of New York, NY, from 10/18/2010 through 12/03/2013
P. Turner & Company, L.L.C. (CRD #43177), of Hauppauge, NY, from 02/24/2006 through 11/09/2010
Granite Associates, Inc. (CRD# 46682) of Melville, NY, from 02/11/2005 through 03/02/2006
W. Bach & Company (CRD#:43522) of Port Washington, NY, from 04/26/2004 through 02/17/2005

Murnane is the subject of several disclosures in addition to the aforementioned regulatory suspension.

The State of Montana’s Securities Commissioner issued two regulatory sanctions:
- On 12/19/2017, the MSC began investigations against Murnane alleging: “unregistered salesperson; unauthorized trading; excessive trading; excessive fees; discretionary trading without written discretionary authority; securities fraud. This action is pending.
- On 05/26/2017, the MSC began investigations against Murnane alleging: “excessive trading; unsuitable trading; unauthorized trading; excessive commissions; unethical and fraudulent trading; unregistered trading; failing to comply with a condition imposed by the Montana Securities Commissioner (Heightened Supervision Agreement)” This action is pending.
On 1/26/2017, a customer filed a dispute that the office and representative (Murnane) refused to close an account due to losses. This dispute was closed without any further actions taken.
On 01/12/2017, a customer filed a dispute that the representative failed to follow instructions. The client requested damages in the amount of $63,000. The dispute was later withdrawn.
On 1/10/2017, The Woodstock Financial Group discharged Murnane after allegations that he destroyed another registered representative’s computer. Murnane also failed to disclose a New York State tax lien to the firm. It was later discovered by FINRA.
Murnane has two tax liens—one filed on 11/22/2016 for $28,560.87, and one filed on 08/02/2016 for $31,715.23.
A customer filed a dispute on 9/24/2013, alleging “churning, breach of fiduciary duty, common law fraud, breach of contract. From January 2011 thru March 2012.” The customer requested damages in the amount of $100,000; the firm settled with the customer for $30,000.
A customer filed a dispute on 8/27/2012, alleging, “breach of fiduciary duty, negligence, securities fraud, common law fraud, breach of contract and prima facie tort.” The client requested damages in the amount of $584,672.30, and the firm settled for $71,116.00. Murnane was not named in the arbitration actions, denied any wrongdoing and did not contribute funds to the settlement.
A customer filed a dispute on 07/09/2012, alleging, “unauthorized trades, excessive trading, unnecessary losses.” The customer requested damages in the amount of $40,000; the firm settled for $ 17,739.00. Murnane agreed to reimburse the client for commissions generated during September of 2011.
A customer filed a dispute on 05/12/2012, alleging, “unauthorized transactions, margin fraud, churning, unsuitability, breach of contract and breach of fiduciary duty.” The customer requested damages of $160,000; the firm settled for $50,000, with no contribution from Murnane, who denied all the allegations.

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