Securities Arbitration Lawyers BlogBrett S. Murphy, Boca Raton, Florida-based Revere Securities Broker Under Investigation Over Allegations of Churning in Unit Investment Trusts
Silver Law Group is investigating Boca Raton, Florida-based Revere Securities LLC (CRD# 14178) broker Brett S. Murphy (CRD# 2434384) over allegations that Murphy excessively traded unit investment trusts (“UITs”) in a customer’s account.
According to Scott’s FINRA BrokerCheck report, a customer filed a complaint against Scott alleging Scott churned the customer’s account in UITs and that the UITs were unsuitable. Further, the customer alleges that Scott’s employing firm, Oppenheimer & Co. Inc. (CRD# 249) as well as Revere Securities, failed to supervise Scott.
Oppenheimer employed Scott from July 2011 to March 2015 at its Palm Beach Gardens, Florida locations. Scott then moved further south to Revere Securities in Boca Raton, Florida where he is currently employed.