Morgan Stanley Financial Advisor, Richard Juracka, Sanctioned By FINRA For Alleged Unauthorized Trading
The Wolper Law Firm is currently investigating claims against Richard Juracka, a Financial Adviser at Morgan Stanley in New York, NY. Richard Juracka has been in the securities industry since 1980 and has been employed by Morgan Stanley for the entirety of his career.
According to publicly available records released by the Financial Industry Regulatory Authority (FINRA), on November 20, 2018, Richard Juracka was sanctioned for allegedly engaging in unauthorized trading in seven customer accounts. The FINRA sanction states: “From August 2016 through July 2017, Juracka exercised discretion without written authorization in the accounts of seven customers, in violation of NASD Rule 2510(b) and FINRA Rule 2010.” FINRA suspended Richard Juracka for twenty days and imposed a monetary fine.
For a full copy of the FINRA sanction, click http://www.finra.org/sites/default/files/fda_documents/2017055321601%20Richard%20A.%20Juracka%20CRD%20708735%20AWC%20jm.pdf
Unauthorized trading is prohibited in the securities industry. Prior to placing a trade, Financial Advisors are required to first speak with their clients to obtain authorization for a trade, including the time and price of the trade. Failure to follow this rule may result in rescission of the trade.
Financial advisors have a legal and regulatory obligation to recommend only suitable investments that are appropriate for their clients’ needs and objectives. Their employing brokerage firm has a legal and regulatory obligation to supervise the Financial Advisors’ sales practices and dealings with clients. To the extent any of these duties are breached, the customer may be entitled to a recovery of his or her investment losses.
The Wolper Law Firm is interested in speaking with clients of Richard Juracka as part of its investigation. We can be reached at 800.931.8452 or by email at email@example.com. The Wolper Law Firm represents investors nationwide in securities litigation and arbitration on a contingency fee basis. Matt Wolper, the Managing Principal of the Wolper Law Firm, is a trial lawyer who has handled hundreds of securities cases during his career involving a wide range of products, strategies and securities. Prior to representing investors, he was a partner with a national law firm, where he represented some of the largest banks and brokerage firms in the world in securities matters.
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