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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 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.