Murray Petersen Discloses FINRA Sanctions

Soreide Law Group is investigating possible investor claims against securities broker Murray Petersen AKA Todd Petersen [CRD#: 1311730, Roseville, CA]. Notably, FINRA sanctioned the securities broker, who worked for WFG Investments and SCF Securities. Allegedly, Petersen engaged in an undisclosed outside business activity and engaged in a private securities transaction. Here is a brief summary FINRA’s allegations against Petersen.

FINRA Sanctions WFG Investments and SCF Securities Broker Murray Petersen For Outside Business Activities

Evidently, FINRA issued Case #: 2019064432901 on November 22, 2021 sanctioning Murray Petersen for infractions. Allegedly, Petersen engaged in an undisclosed outside business activity and a private securities transaction. Therefore, on November 22, 2021, FINRA barred the securities broker.

Supposedly, from September 2014 through November 2015, Petersen was involved in an unauthorized outside business activity concerning the sale of jewelry for investment purposes and was receiving commissions for the sales during the time that he was associated with WFG Investments Inc.

Initially WFG had approved of the outside business activity but in September 2014 withdrew its approval. Petersen continued to engage in the outside business activity until November 2015.

Additionally, in June and July of 2018, Petersen was again involved in two undisclosed securities transactions concerning the jewelry business during the time that he was associated with SCF Securities Inc.

Specifically, Petersen was involved in securities transactions with two SCF clients totaling $1,080,000.00 in a jewelry business that allegedly conducted business in China. At no point did Petersen obtain approval or written authorization from SCF to engage in this outside activity. Petersen violated FINRA Rules 2010, 3270, and 3280.

SCF Securities Broker Discharged For Outside Business Activities

SCF Securities disaffiliated with Petersen. Allegedly, Petersen engaged in an undisclosed outside business activity.

SCF Securities Investor Accuses Murray Petersen Of Negligence

Evidently, an SCF Securities client filed FINRA Arbitration #: 22-00978 about Murray Petersen. Notably, the client alleged that Petersen was negligent. Because of this, the client sustained damages. Therefore, on July 28, 2022, SCF Securities settled this matter by paying the client $14,999.

Petersen Discloses Breach Of Fiduciary Duty Allegations By SCF Securities Client

Also, a client of SCF Securities contested Murray Petersen’s sales practices by filing FINRA Arbitration #: 22 00438. Allegedly, Petersen acted unethically and breached a fiduciary duty. Supposedly, the investments which Petersen sold or recommended had caused the client to sustain damages. Therefore, SCF Securities opted to settle the matter on May 4, 2022 by compensating the client in the amount of $115,000.

SCF Securities Investor Accuses Murray Petersen Of Sales Practice Violations

Additionally, an SCF Securities client filed FINRA Arbitration #: 22 00438 about Murray Petersen. Namely, the client alleged that Petersen acted unethically, and breached a fiduciary duty. Because of this, the client sustained damages. Therefore, on May 4, 2022, SCF Securities settled this matter by paying the client $115,000.

Petersen Discloses Breach Of Fiduciary Duty Allegations By SCF Securities Client

Also, a client of SCF Securities contested Murray Petersen’s sales practices by filing FINRA Arbitration #: 21-02868 on December 2, 2021. Allegedly, Petersen acted unethically, and breached a fiduciary duty. Supposedly, the DPPs. LPs, and oil and gas investments which Petersen sold or recommended had caused the client to sustain damages. Therefore, the client seeks compensatory relief from SCF Securities or Petersen in the amount of $320,000 in this ongoing matter.

SCF Securities Files Complaint About Murray Petersen

Evidently, an SCF Securities client filed FINRA Arbitration #: 20-03618 about Murray Petersen. Notably, the client alleged that Petersen acted unethically, and breached a fiduciary duty. Because of this, the client sustained damages. Therefore, on December 23, 2020, SCF Securities settled this matter by paying the client $77,500.

Recent Employer Information

Murray Petersen worked for Ameriprise Financial Services in Roseville, CA, as a securities broker from December 12, 2019 to June 4, 2020.

Did SCF Securities Broker Petersen Cause You To Experience Damages?

Have you sustained damages by investing with Murray Petersen? If so, contact Soreide Law Group at (888) 760-6552 to talk with a securities lawyer about a possible recovery of your investment losses. Notably, Soreide Law Group has effectively recovered money for investors in all 50 states. The firm represents clients on a contingency fee basis and advances all costs. Petersen and brokerage firms Petersen was employed by deny any and all allegations of sales practice violations.