Former New York Broker, Richard A. McGuire, Barred by FINRA and Ordered to Pay $95,000 in Restitution to Client

Soreide Law Group (888-760-6552) found the following information from FINRA's Disciplinary Report, March 2016.

Richard A. McGuire (CRD #4637028, Bay Shore, New York) Alternate Names: RICH ALLEN MCGUIRE, RICH MCGUIRE

was barred by FINRA and ordered to pay $95,000, plus interest, in restitution to a client’s estate. The NAC (National Adjudicatory Council a FINRA committee that reviews initial decisions rendered in FINRA disciplinary and membership proceedings) affirmed the findings and sanctions imposed by OHO. The NAC found that allegedly McGuire took $95,000 from a client under false pretenses, used the money for his own purposes, and then, when the client requested the money back, refused to comply with her request.

The NAC also found that McGuire allegedly forged the client’s signatures on loan agreements he generated, copied, and supplied to FINRA, and used in an effort to support his false assertions that the client had loaned him money.

Also, the NAC found that McGuire failed to provide notice of several outside business activities to his member firms, failed to inform three of his firms of the existence of brokerage accounts held away from those firms, and failed to inform the broker/dealers holding his accounts of his association with his firms. The NAC also found that McGuire willfully failed to disclose state tax warrants and a federal tax lien on his Form U4.

(FINRA Case #2011027350301)

Richard A. McGuire had been in the securities industry for 11 years. FINRA has permanently barred McGuire from acting as a broker or otherwise associating with firms that sell securities to the public. He was previously registered with the following firms:

12/2014 - 04/2015 NEWPORT COAST SECURITIES, INC. - NEW YORK, NY

07/2014 - 11/2014 FINANCIAL WEST GROUP - BAY SHORE, NY

03/2013 - 08/2014 CABOT LODGE SECURITIES LLC - BAY SHORE, NY

06/2011 - 12/2012 INVESTACORP, INC. - BAY SHORE, NY

12/2009 - 04/2011 AMERITAS INVESTMENT CORP. - WALL, NJ

05/2008 - 12/2009 TFS SECURITIES, INC. - GARDEN CITY, NY

If you were a client of Richard A. McGuire and suffered losses due to his behavior/recommendations, call Soreide Law Group for a free consultation regarding the possibility of recovering your funds at: 888-760-6552.

Recent Posts

October 21, 2026

GREAT POINT & SUSAN J GITT Lawsuit

Soreide Law Group has filed a FINRA arbitration on behalf of our clients (Claimants) against: GREAT POINT CAPITAL, LLC, (GREAT POINT) and their former registered representative, SUSAN JANE GITT (SUSAN J GITT, SUSAN JANE SCHULTZ) (Respondents). The Claimants are retired and live in Florida. The lawsuit states that the Claimants were looking for conservative income-generating […]

October 21, 2026

SHEA P KENNEDY & TEXAKOMA Lawsuit

Soreide Law Group has filed a FINRA arbitration on behalf of our client (Claimant) against: TEXAKOMA FINANCIAL, INC. and their registered representative, SHEA PETER KENNEDY (SHEA P KENNEDY) (Repondents). The Claimant resides in Nevada, and according to the lawsuit, around August of 2023, SHEA P KENNEDY contacted the Claimant unsolicited, apparently after the Claimant had […]

October 20, 2026

Michael Graham: Pending LPL Financial Claims Over A Real Estate Secured Loan

Pending customer claims on BrokerCheck name Michael Graham (CRD 3263494) and list LPL Financial as the firm. Each claim is pending and unproven, and no arbitrator has ruled on any of them. The customers allege that Graham misrepresented guaranteed principal and returns on a secured loan related to a real estate deal.

Contact us Nationwide USA

2401 E. Atlantic Blvd., Suite 305, Pompano Beach, FL 33062

Phone: 1-888-760-6552
Fax: 1-954-760-6553
Email: [email protected]

Helping clients recover money across the USA