Ralph Dory Alezi (CRD #6848791) Has a Customer Dispute Disclosure on FINRA BrokerCheck

Ralph Dory Alezi (CRD #6848791) has been the subject of disclosure events, which have recently been reported on his FINRA BrokerCheck Report. According to Ralph Dory Alezi’s FINRA BrokerCheck report accessed on January 17, 2026, Ralph Dory Alezi has been the subject of one customer dispute. If you invested with Ralph Dory Alezi and you have concerns about his activity, keep reading.

BrokerCheck link: BrokerCheck

BrokerCheck report: BrokerCheck Report (PDF)

Investor Disputes / Customer Complaints

Ralph Alezi FINRA BrokerCheck report reflects one customer dispute disclosure. A summary of the dispute is below:

On November 25, 2025, a customer alleged that Ralph Alezi borrowed money from the client for an investment strategy that would generate 30% returns, but only made nominal repayments and the client did not receive the 30% return. The complaint was reported by the employing firm at the time, Merrill Lynch, Pierce, Fenner & Smith Incorporated. The product type listed on the disclosure is Options, and the alleged damages are reported as $0.00 (with the damages amount noted as $5,000 or more / can’t determine). The disclosure reflects the matter is pending.

Rule summary #1: FINRA Rule 3240 (Prohibition on Borrowing From or Lending to Customers)

FINRA Rule 3240 generally prohibits registered representatives from borrowing money from or lending money to customers, with limited exceptions and conditions that require firm procedures and, in many cases, firm approval.

Rule summary #2: FINRA Rule 2010

FINRA Rule 2010 is a broad, principles-based rule requiring members and associated persons to observe high standards of commercial honor and just and equitable principles of trade. FINRA frequently cites Rule 2010 in matters involving unethical conduct.

Why this Matters to Investors (Regulation Best Interest)

Regulation Best Interest (Reg BI) is a U.S. securities regulation designed to strengthen the standard of conduct that broker-dealers owe to retail investors when making recommendations about securities transactions or investment strategies. Adopted by the U.S. Securities and Exchange Commission and effective as of June 30, 2020, Reg BI aims to enhance investor protection while preserving investor access to brokerage products and services.

Reg BI requires broker-dealers and financial advisors to act in the best interest of the retail customer at the time a recommendation is made, and not to place their own financial or other interests ahead of the customer’s. This represents a higher standard than the historical “suitability” requirement, which only required that recommendations be suitable, not necessarily optimal or conflict-free.

Reg BI is built around four key obligations:

1. Disclosure Obligation – Broker-dealers must disclose material facts about the relationship and recommendations, including fees, scope of services, and conflicts of interest.
2. Care Obligation – Recommendations must be made with reasonable diligence, care, and skill, considering costs, risks, and alternatives.
3. Conflict of Interest Obligation – Firms must identify, disclose, and mitigate or eliminate conflicts, particularly those that create incentives to favor one product over another.
4. Compliance Obligation – Firms must establish policies and procedures designed to ensure compliance with Reg BI as a whole.

Importantly, Reg BI applies at the recommendation level, not as a continuous duty like the fiduciary standard applicable to registered investment advisers. Still, it significantly narrows the gap by emphasizing cost considerations, conflict management, and investor-focused decision-making.

Overall, Regulation Best Interest seeks to promote transparency, improve the quality of investment recommendations, and reinforce trust between retail investors and broker-dealers in the U.S. securities markets.

Background Information (from BrokerCheck)

Based on his BrokerCheck Report, Ralph Alezi:

• Is not currently registered with any securities firm.
• Has passed the Securities Industry Essentials (SIE), Series 7, and Series 66 exams.
• Was previously registered with firms that include Merrill Lynch, Pierce, Fenner & Smith Incorporated.

Kurta Law Can Help

If you have worked with Ralph Alezi and you have concerns about his activity, Kurta Law may be able to help you evaluate potential recovery options. You may be entitled to pursue a claim through FINRA arbitration, depending on the facts of your situation and the investments involved. Contact Kurta Law at 877-600-0098 or info@kurtalawfirm.com for a free consultation.

Helpful resources: FINRA Rule 3240 | What is Securities Fraud?

For nearly 20 years, Kurta Law has advocated for investors and helped hold financial professionals accountable—because investors should not have to sit quietly while alleged misconduct and securities fraud go unchecked. Start your recovery process today.