Investor Alleges John Moy Engaged in Fraud and Negligence

John Moy (CRD #: 848350), a broker registered with Newbridge Securities, allegedly engaged in fraud, according to his BrokerCheck record, accessed on March 8, 2023. Investors may have also engaged his services through Newbridge Financial Services Group. Keep reading to learn more about his alleged conduct as a broker.

Investor Disputes

In a dispute filed on December 13, 2022, an investor alleged that John Moy engaged in fraud, breach of contract, and negligence. The client seeks $100,000 in damages in this pending dispute.

On September 26, 2019, an investor filed a dispute alleging John Moy made an unsuitable investment recommendation. According to an arbitration agreement, the client further alleged that John Moy and National Securities Corporation engaged in the following:

• Constructive fraud
• Misrepresentation and/or omission of material facts
• Negligence
• Breached contract 
• Violation of the Maryland Securities Act

This dispute was settled outside arbitration for $50,000. You can read the full arbitration summary here.

On May 5, 2017, multiple investors filed a dispute alleging that John Moy gave unsuitable investment recommendations in 2015. They sought $145,000 in damages and received a settlement of $65,000.

FINRA Rule 2010

FINRA Rule 2010 holds brokers to high standards of commercial honor and just and equitable principles of trade.

FINRA Rule 2111

FINRA Rule 2111 defines suitable investments as securities that fit an investor’s profile, which describes characteristics such as their tax status, risk tolerance, and financial goals.

Investors who rely on brokers for recommendations may be able to recover their losses through FINRA arbitration.

FINRA Rule 2020

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

What is broker negligence?

Brokers may act in many negligent ways, including by making misrepresentations or omissions of fact, engaging in excessive or unauthorized trading, or failing to supervise other brokers.

Investors who feel their losses are the result of broker negligence may be able to recover their funds by seeking out FINRA arbitration. 

What are blue sky laws?

Blue sky laws like the Maryland Securities Act provide investors with an extra layer of protection against fraud by regulating the securities business on a state level. They frequently also define what investments must register as securities in the state.

Termination from National Securities Corporation

On April 5, 2019, John Moy was fired from National Securities Corporation for allegedly violating firm policies and procedures concerning the recommendation of variable annuity liquidations.

Termination from Morgan Stanley Wealth Management

On March 2, 2018, John Moy was fired from Morgan Stanley Wealth Management following allegations related to his transition from another firm and the opening of client accounts.

Background Information

John Moy 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
• Series 24 – General Securities Principal Examination

John Moy is a registered broker in 15 states and the District of Columbia. He is also a registered investment adviser in Florida, Louisiana, Maryland, and Texas.

He has also worked for the following firms:

• International Assets Advisory (CRD#:10645)
• National Asset Management (CRD#:115927)
• National Securities Corporation (CRD#:7569)
• Morgan Stanley (CRD#:149777)
• Merrill Lynch, Pierce, Fenner & Smith (CRD#:7691)
• Wachovia Securities (CRD#:19616)
• Prudential Securities (CRD#:7471)
• Dean Witter Reynolds (CRD#:7556)
• Lehman Brothers (CRD#:7506)
• E. F. Hutton & Company (CRD#:235)
• Laidlaw Adams & Peck (CRD#:1481)
• PaineWebber (CRD#:8174)     
• Prudential-Bache Securities (CRD#:7471)
• Wheat, First Securities (CRD#:6124)
• Brokers Exchange (CRD#:7894)
• Salkin, Welch & Company (CRD#:4124)

Kurta Law Can Help

If you worked with John Moy and you have concerns about your investments, contact a New York investment fraud lawyer today for a free case evaluation. Call (877) 600-0098 or email info@kurtalawfirm.com.   

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.