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Joseph Dugan Allegedly Executed Unauthorized Sale of Client’s Stock

Joseph Dugan (CRD #: 1412880), a broker registered with Morgan Stanley, allegedly executed an unauthorized trade, according to his BrokerCheck record, accessed on November 4, 2022. If you want to know more about his conduct as a broker, read on.

Investor Dispute

On September 15, 2022, an investor alleged that Joseph Dugan executed an unauthorized sale of his shares of Exxon stock in 2021. This dispute is currently pending.

FINRA Rule 3260

FINRA Rule 3260 prohibits brokers from conducting discretionary trading outside discretionary accounts. These accounts must be pre-approved for discretionary trading by the firm and the client.

FINRA Rule 2010

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

Background Information

Joseph Dugan 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 31 – Futures Managed Funds Examination
  • Series 7 – General Securities Representative Examination
  • Series 6 – Investment Company Products/Variable Contracts Representative Examination

Joseph Dugan is a registered broker in 27 states and the District of Columbia. He is also a registered investment adviser in Missouri, New Jersey, and Texas.

He has also worked for the following firms:

  • Morgan Stanley & Company (CRD#:8209)
  • Morgan Stanley DW (CRD#:7556)
  • First Investors (CRD#:305)

Kurta Law Can Help

If you worked with Joseph Dugan 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. 

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