Victim of Financial Fraud? Call Now
Home » Broker Blog » David LaGrange Subject of SEC Investigation

David LaGrange Subject of SEC Investigation

Jul 31, 2023 Regulation Best Interest

David LaGrange (CRD #: 4200976), a broker registered with Moloney Securities, is the subject of an SEC investigation. This disclosure appears in his BrokerCheck record, accessed on July 31 2023. Keep reading for more details. 

On May 11, 2023, the SEC opened an investigation into David LaGrange. The description states that the SEC is “Investigating potential rule violations of Regulation Best Interest.” 

What is Regulation Best Interest? 

Regulation Best Interest expanded on the requirements of FINRA Rule 2111, which defines suitable investment recommendations. In addition to limiting their recommendations to investments that suit their investors’ needs, brokerage firms must also uphold a Duty of Care, the Conflict of Interest Obligation, and the Disclosure Obligation. These obligations and duties require brokerage firms to disclose conflicts of interest and, prior to recommending a security, research the market for investments that could offer similar benefits at a lower cost. 

Background Information 

David LaGrange has passed the following exams: 

  • Series 63 Uniform Securities Agent State Law Examination 
  • SIE – Securities Industry Essentials Examination 
  • Series 7 General Securities Representative Examination 

He is a registered broker in 32 states and is a registered investment adviser in Iowa. 

David LaGrange has registered with the following firms: 

  • Moloney Investment Advisory (CRD #: 282140) 
  • Moloney Securities Co. (CRD #: 38535) 
  • Eagle One Investments (CRD #: 45254) 

Kurta Law Can Help

If you worked with David LaGrange and you have concerns about your investments, please contact us today at 877-600-0098 or info@kurtalawfirm.com for a free consultation.

For over 20 years, Kurta Law has advocated on behalf of investors who want to recover their investment losses from brokers and brokerage firms. Kurta Law is a nationally recognized law firm and exclusively represents investors against brokers and brokerage firms on a contingency basis. This means that the firm only earns a fee if our securities attorneys recover money on your behalf.

Recent Results

$16.75M

Million

Recovery for ARC NYC REIT Investors
Learn More
Kurta Law recovered millions of dollars for investors who purchased the speculative and unsuitable ARC NYC REIT. The arbitration settled for substantially more than the investor losses.

Recent Results

$9.3M

Million

Investors Receive Award for More than their Losses
Learn More
Jonathan Kurta was able to recover over $9.3 million for a group of defrauded investors. The claims were based upon the brokerage firm’s failure to supervise a stockbroker who stole client funds and then prepared and disseminated fake account statements for decades.

Recent Results

$7.1M

Million

Elderly Victims Recover After a Decade of Fraud
Learn More
Jonathan Kurta represented a group of elderly women who were the victims of a financial crime perpetrated by a rogue broker. The broker utilized forged documents to steal funds from the clients’ accounts over a decade.

Recent Results

$4.2M

Million

Investor vs. Royal Alliance
Learn More
Jonathan Kurta represented an investor who alleged that Royal Alliance Associates had not fulfilled their supervisory duties. This allegedly allowed brokers to engage in conversion and RICO violations. Read a copy of the award here.

Recent Results

$1M

Million

Utah Firm Executed Unnecessary Transaction
Learn More
A FINRA panel sided with Kurta Law and found that a Utah brokerage firm executed unnecessary transactions in order to generate more commissions. Read a copy of the award here.

Recent Results

$2M

Million

Arizona Investors Options Trading Scam
Learn More
Kurta Law negotiated a $2 million settlement on behalf of Arizona investors who were defrauded in an options trading scam.

Categories