Wisconsin Broker, Joseph Henry Murphy III, Fined and Suspended by FINRA

Soreide Law Group obtained the following information from FINRA’s Disciplinary Report April 2017:

Joseph Henry Murphy III (Joe Murphy) (CRD #1829393, Madison, Wisconsin)
was fined $5,000 and suspended by FINRA for 10 business days for allegedly exercising discretion in client accounts that were unrelated, non-discretionary accounts.
According to FINRA, these transactions occurred on three separate days over an eight-month period and involved client accounts.
FINRA’s findings stated that Murphy did not obtain written authorization from any of the clients to exercise discretion in their accounts, and his member firm did not approve these accounts for discretionary trading.
Allegedly, Joe Murphy executed transactions in the accounts by verbal authority from the clients, but the transactions did not occur on the same days that the clients authorized the transactions.
FINRA’s findings also stated that Joe Murphy executed mutual fund transactions after a short telephone discussion with the client. During that discussion, neither the specific mutual funds nor the specific amounts that would be invested were identified.
Murphy’s alleged exercise of discretion in his clients’ accounts violated the firm’s policies and procedures.
This suspension was in effect from March 20, 2017, through March 31, 2017.
(FINRA Case #2016049008801)
According to FINRA’s BrokerCheck, Joseph Henry Murphy III, has three disclosures on his disciplinary report, 23 years of experience in the securities industry, and was listed with 4 firms and was registered with his current firm since 2/16/2016:
B. C. ZIEGLER AND COMPANY
8215 GREENWAY BLVD SUITE 200
MIDDLETON, WI 53562
Joe Murphy was previously listed with:
03/02/1998 - 02/23/2016 RBC CAPITAL MARKETS, LLC - MADISON, WI

If you’ve experienced investment losses due to the actions or recommendations of Joseph Henry Murphy III, currently with BC Ziegler and Co. and formerly with RBC Capital Markets of Madison, WI, contact Soreide Law Group and speak to a securities lawyer regarding the possible recovery of your losses at:  888-760-6552.
Soreide Law Group will represent our clients nationwide before FINRA and we operate on a contingency fee.  Let our experience work for you.