Ryan Murphy Barred by FINRA Following Allegations of Misconduct

Financial Industry Regulatory Authority (FINRA) BrokerCheck reveals disclosures about securities broker Ryan T. Murphy (CRD: 4332032, Savannah, Georgia). Murphy was registered with Truist Investment Services Inc. from February 2006 to May 2024. Recent regulatory actions have resulted in a permanent bar from the securities industry following allegations related to misconduct and failure to comply with FINRA’s investigative requests.

Regulatory Action and FINRA Bar for Failure to Cooperate

On August 1, 2024, FINRA initiated a regulatory action (Case No. 2024082044301) against Murphy following an investigation into his conduct at Truist Investment Services Inc. The allegations included the creation of inaccurate consolidated statements, the improper use of unauthorized communication channels, and an attempt to personally pay past due safe deposit box fees for a client.

Without admitting or denying the findings, Murphy consented to the sanctions through an Acceptance, Waiver, and Consent (AWC) agreement. As a result, FINRA imposed a permanent bar, prohibiting Murphy from associating with any FINRA-member firm in any capacity.

Employment Termination of Ryan Murphy from Truist Investment Services Inc.

On April 4, 2024, Truist Investment Services Inc. discharged Murphy, citing violations of its code of conduct. The firm alleged that Murphy used an unapproved communication device to provide an inaccurate consolidated statement to a client and attempted to personally cover past due safe deposit box fees.

Failure to Cooperate with FINRA Investigation

During its investigation, FINRA requested documents, information, and on-the-record testimony from Murphy. On July 17, 2024, FINRA issued formal requests under FINRA Rule 8210, which mandates cooperation with regulatory inquiries. However, Murphy refused to comply, as confirmed in a July 24, 2024, communication with FINRA. His failure to provide the requested information led to violations of FINRA Rules 8210 and 2010, resulting in his industry bar.

Looking for More Information About Ryan Murphy?

If so, reach out to Soreide Law Group online or at (888) 760-6552 to consult with a securities attorney. Soreide Law Group works on a contingency basis, advances all costs, and assists investors across the United States with recovering losses from sales practice misconduct. Murphy and the firms he worked for deny accusations of sales practice violations.