John Alex (CRD: 2020710) settled customer disputes at Morgan Stanley and UBS Financial Services between 2011 and 2025, according to BrokerCheck, which lists him as John L. Alex.
Financial Industry Regulatory Authority (FINRA) BrokerCheck reveals disclosures about securities broker Donald Ralph Hancock [CRD: 828811, Manchester, Missouri]. Hancock has worked in the securities industry for over 48 years, holding registrations with several firms, including Moloney Securities Co. Inc. since 2010 and Moloney Securities Asset Management LLC since 2016.
Recent disclosures highlight regulatory concerns and a pending client dispute related to Hancock’s conduct, raising allegations of negligence and failure to comply with Regulation Best Interest.
On September 27, 2024, the United States Securities and Exchange Commission (SEC) initiated a regulatory action against Hancock, Moloney Securities Co. Inc., and two other individuals. SEC alleged violations of Regulation Best Interest (Reg BI) concerning recommendations made on high-risk corporate bonds known as L Bonds, issued by GWG Holdings Inc. SEC found that Moloney Securities and its representatives failed to exercise due diligence in assessing the risks and suitability of L Bonds for retail investors between June 30, 2020, and January 15, 2022.
Hancock, as CEO of Moloney Securities, was held responsible for failing to meet Reg BI’s Care Obligation, Conflict of Interest Obligation, and Disclosure Obligation. The SEC ordered Hancock to cease and desist from future violations and imposed financial penalties, including a $50,000 civil penalty.
Hancock agreed to a settlement on a “neither admit nor deny” basis and immediately paid the full monetary sanctions. The SEC’s order did not suspend, revoke, or condition his registration, allowing him to continue his brokerage activities.
On September 30, 2024, a client of Moloney Securities Co. Inc. filed a FINRA Arbitration No. 24-02039, alleging suitability violations and negligence related to an investment in corporate debt securities. The client is seeking $359,325.61 in damages. This matter remains pending.
Hancock denies the allegations.
If you have concerns regarding investments with Donald Hancock, contact Soreide Law Group online or at (888) 760-6552 to consult with a securities attorney. The team at Soreide Law Group works on a contingency basis, advances all costs, and assists investors across the country with recovering losses from sales practice misconduct. Hancock and Moloney Securities Co. Inc. deny allegations of sales practice violations.
John Alex (CRD: 2020710) settled customer disputes at Morgan Stanley and UBS Financial Services between 2011 and 2025, according to BrokerCheck, which lists him as John L. Alex.
Sam Bhushan (CRD: 4884717) is named in several pending customer complaints and one settled dispute, according to his BrokerCheck report.
Sterling Louviere (CRD: 2021328), listed on BrokerCheck as Sterling Vaughn Louviere, is named in a pending customer claim over Reg D private placements, with Cabin Securities as the firm named.
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