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Investor Seeks More Than $1.3 Million in Dispute with Eric Duncan

Jul 22, 2022 Unsuitable Investments

Eric Duncan (CRD #: 4168496), a broker registered with Moloney Securities, allegedly engaged in negligence, according to his BrokerCheck record, accessed on December 29, 2022. Clients may also have engaged his services at Moloney Securities Asset Management. If you have questions about his conduct as a broker, read on.

Investor Disputes

According to allegations filed on September 6, 2022, Eric Duncan recommended unsuitable investments. The investor is seeking $138,000. 

On May 16, 2022, an investor named Eric Duncan in allegations of suitability violations and negligence. The client seeks $1,331,000 in this pending dispute.

FINRA Rule 2111

FINRA Rule 2111 defines suitable investments as securities that fit an investor’s profile. Brokers must take into account the information in their client’s profile, such as the investor’s age, risk tolerance, and investment goals.

  • Securities may be unsuitable because they are high-risk and likely to result in losses.
  • Investments may also be unsuitable because they are illiquid and intended to be held long-term, making it difficult and potentially expensive for investors to cash out.
  • The requirement for quantitative suitability means that brokers cannot execute an excessive number of trades in a client’s account.

Investment strategies must also meet the requirements of suitability. For example, an investment strategy might be unsuitable if the securities are over-concentrated in a particular stock or sector beyond what is appropriate for the investor’s investment goals.

Investors who experience losses due to their brokers’ investment recommendations or trading discretion may be able to recover their losses through FINRA arbitration.

What is broker negligence?

Many kinds of conduct can qualify as broker negligence. Common types of negligent behavior include making unsuitable investment recommendations, misrepresenting or omitting material facts about investments, and failing to supervise other brokers.

Investors who feel their losses were caused by the negligence of their broker may be able to recover their money by seeking out FINRA arbitration.

Background Information

Eric Duncan has passed the following exams:

  • Series 65 – Uniform Investment Adviser Law Examination
  • Series 63 – Uniform Securities Agent State Law Examination
  • SIE – Securities Industry Essentials Examination
  • Series 7 – General Securities Representative Examination

Eric Duncan is a registered broker in 24 states and the District of Columbia. He is also a registered investment adviser in Colorado and Texas.

He has also worked for the following firms:

  • Moloney Investment Advisory (CRD#:282140)
  • Moloney Securities Company (CRD#:38535)
  • E*Trade Securities (CRD#:29106)
  • E*Trade Advisory Services (CRD#:111178)
  • Quick & Reilly (CRD#:11217)
  • Stifel, Nicolaus & Company (CRD#:793)

Kurta Law Can Help

If you worked with Eric Duncan 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.