Ryan Thomas Murphy (CRD #4332032) Has a Regulatory Action and Customer Dispute Disclosures on FINRA BrokerCheck

Ryan Thomas Murphy (CRD #4332032) is a former broker with disclosures on FINRA BrokerCheck. We reviewed his BrokerCheck report on February 9, 2026. It reflects one regulatory event, one employment separation, and five customer disputes. If you invested with Ryan Murphy and have concerns, keep reading.

BrokerCheck link: BrokerCheck

BrokerCheck report: BrokerCheck Report (PDF)

Regulatory Action(s)

Ryan Murphy’s FINRA BrokerCheck Report reflects one regulatory event. A summary of the event is below:

On August 1, 2024, FINRA reported a final regulatory action. Ryan Murphy consented to an Acceptance, Waiver & Consent (AWC). FINRA barred him in all capacities. The findings state he refused to provide documents and information. He also refused to appear for on-the-record testimony requested by FINRA. You can review the AWC here: AWC.

Employment Separation

Ryan Murphy’s FINRA BrokerCheck Report reflects one employment separation disclosure. A summary is below:

On April 4, 2024, Truist Investment Services, Inc. discharged him. The disclosure states he provided an inaccurate consolidated statement to a client. It also states he used an unapproved, off-channel device. The disclosure states he attempted to personally cover past due safe deposit box fees for a client.

Investor Disputes / Customer Complaints

Ryan Murphy’s FINRA BrokerCheck Report reflects five customer dispute disclosures. Two examples are below.

On December 15, 2025, a customer alleged investment opportunities were presented as risk-free real estate investments. The customer alleged the investments offered a guaranteed return at a much higher rate of return. Ryan Murphy’s FINRA BrokerCheck lists the matter as a pending customer dispute. The forum is the State Court of Chatham County, State of Georgia (Case No. STCV25-03823). The firm determined alleged damages to be over $5,000.

On December 9, 2025, a customer alleged Truist failed in numerous ways to perform its duties as administrator and trustee. The customer alleged this caused significant harm to the estate. Ryan Murphy’s FINRA BrokerCheck lists the matter as a pending customer dispute. The forum is the State Court of Chatham County, State of Georgia (Case No. STCV25-03776). The firm determined alleged damages to be over $5,000.

Ryan Murphy’s FINRA BrokerCheck reports three additional pending customer disputes involving this individual.

Rule Summary #1:

FINRA Rule 8210 allows FINRA to demand documents, information, and testimony during investigations. A refusal to respond can lead to serious sanctions. Bars are a common outcome in Rule 8210 matters.

Rule Summary #2:

FINRA Rule 2010 requires members to observe high standards of commercial honor and just and equitable principles of trade. FINRA often cites this rule in disciplinary actions tied to unethical conduct. It can apply alongside more specific rules.

Why This Matters to Investors (Regulation Best Interest)

Regulation Best Interest (Reg BI) is a U.S. securities regulation. It strengthens the standard of conduct that broker-dealers owe to retail investors. It applies when they recommend securities transactions or investment strategies. The U.S. Securities and Exchange Commission adopted Reg BI. It became effective on June 30, 2020. Reg BI aims to protect investors while preserving access to brokerage products and services.

Reg BI requires broker-dealers and financial advisors to act in a retail customer’s best interest at the time of a recommendation. They must not place their own financial or other interests ahead of the customer’s. This standard is higher than the older “suitability” rule. Suitability meant a recommendation only had to be appropriate. It did not have to be the best option or free of conflicts.

Reg BI has four key obligations:

Disclosure Obligation – Broker-dealers must disclose material facts about the relationship and the recommendation. This includes fees, the scope of services, and conflicts of interest.

Care Obligation – Broker-dealers must use reasonable diligence, care, and skill. They must consider costs, risks, and alternatives when making a recommendation.

Conflict of Interest Obligation – Firms must identify conflicts of interest. They must disclose them and mitigate or eliminate them. This includes conflicts that create incentives to favor one product over another.

Compliance Obligation – Firms must maintain policies and procedures. Those policies should be designed to ensure compliance with Reg BI as a whole.

Reg BI applies to each recommendation. It is not a continuous duty like the fiduciary standard for registered investment advisers. Even so, it narrows the gap. It puts more focus on costs, conflicts, and investor-focused decision-making.

Overall, Regulation Best Interest promotes transparency. It also aims to improve the quality of investment recommendations. It is designed to reinforce trust between retail investors and broker-dealers in the U.S. securities markets.

Background Information (from BrokerCheck)

Based on His FINRA BrokerCheck report, Ryan Thomas Murphy:

Is not currently registered as a broker.

Has passed the Securities Industry Essentials (SIE) exam. Ryan Murphy has passed Series 7 and Series 65. He has also passed Series 63.

Was previously registered with firms that include Truist Investment Services, Inc. and Citigroup Global Markets Inc.

Kurta Law Can Help

If you have worked with Ryan Murphy and you have concerns about his activity, Kurta Law may be able to help you evaluate your legal options. To speak with Kurta Law, call 877-600-0098 or email info@kurtalawfirm.com.

Helpful resources: Unsuitable Investments | What is Securities Fraud?

For nearly 20 years, Kurta Law has advocated for investors and helped hold financial professionals accountable. Our firm represents clients nationwide in securities arbitration and related disputes. If you believe a broker or firm mishandled your account, an attorney can review the facts and explain possible next steps.