Jason Murphy Allegedly Claimed Investments Would Be Low-Risk

Jason Murphy (CRD #: 2582762), a broker registered with Stifel, Nicolaus & Company, allegedly made claims that resulted in losses for a client, according to his BrokerCheck record, accessed on June 20, 2023. Keep reading if you have questions about his alleged conduct as a broker.

Investor Dispute

On April 25, 2023, an investor alleged that Jason Murphy claimed that a certain investment account would have very little risk and that investing in a certain stock in 2019 and 2020 would have “almost no risk.” The client alleged that they incurred losses due to these claims.

The client sought $83,853.16 in damages but the firm denied the dispute.

However, investors should know that firms can deny disputes without allowing an external review. Investors may be able to recoup their losses by pursuing FINRA arbitration after a denial.

FINRA Rule 2150

FINRA Rule 2150 forbids brokers from guaranteeing investors against loss.

FINRA Rule 2020

FINRA Rule 2020 forbids the use of deceptive, manipulative, and otherwise fraudulent methods to influence investors’ decisions. The misrepresentation or omission of material facts violates this rule.

Background Information

Jason Murphy 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

Jason Murphy is a registered broker in 30 states and Puerto Rico. He is also a registered investment adviser in Illinois.

He has also worked for the following firms:

• A. G. Edwards & Sons (CRD#:4)
• Gruntal & Company (CRD#:372)
• Joseph Roberts & Company (CRD#:15971)

Kurta Law Can Help

If you worked with Jason Murphy 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.