Tory A. Duggins (CRD #4556340) Has Regulatory, Customer Dispute, and Judgment/Lien Disclosures on FINRA BrokerCheck

Tory A. Duggins (CRD #4556340) was previously registered as a broker. We reviewed his BrokerCheck report on April 10, 2026. BrokerCheck currently shows four regulatory events, four customer disputes, and six judgment/liens.

BrokerCheck link: BrokerCheck

BrokerCheck report: BrokerCheck Report (PDF)

Regulatory Action(s)

Tory A. Duggins’s FINRA BrokerCheck report reflects four regulatory events. Summaries of two disclosures are below. Two additional regulatory events remain on the report.

On January 21, 2026, Tory A. Duggins’s FINRA BrokerCheck report disclosed a pending FINRA complaint. FINRA alleges he failed to appear for on-the-record testimony in an investigation into possible churning and excessive trading. BrokerCheck says he missed three testimony dates and did not contact FINRA to reschedule. Complaint

Tory A. Duggins’s FINRA BrokerCheck report also discloses a January 19, 2024 FINRA matter that ended in an Acceptance, Waiver & Consent. BrokerCheck states that FINRA found he willfully violated Regulation Best Interest by recommending excessive trading to customers, including some seniors. The report says the matter resulted in an 18-month suspension and a statutory disqualification finding. AWC link

Investor Disputes / Customer Complaints

Tory A. Duggins’s FINRA BrokerCheck report reflects four customer dispute disclosures. Summaries of two disclosures are below. Two additional customer disputes remain on the report.

On October 5, 2016, Tory A. Duggins’s FINRA BrokerCheck report disclosed a customer dispute that went to an award. The customer alleged unauthorized trading and the improper use of margin. The claim sought $50,000, and BrokerCheck shows an award of $26,127. Award

A second customer dispute on Tory A. Duggins’s FINRA BrokerCheck report was reported on September 14, 2012. The customer alleged unauthorized trading while he was associated with VFinance Investments, Inc. BrokerCheck shows the matter settled for $21,500 and lists no individual contribution by Duggins.

Judgment / Lien

Tory A. Duggins’s FINRA BrokerCheck report reflects six judgment/lien disclosures. Summaries of two disclosures are below. Four additional judgment/lien disclosures remain on the report.

On September 12, 2017, Tory A. Duggins’s FINRA BrokerCheck report disclosed a tax lien for $29,559.91. BrokerCheck lists the filing in Orange County by the NYS Department of Taxation and Finance. The report marks the lien as outstanding.

BrokerCheck also lists a second tax lien dated August 29, 2017, in the amount of $35,797.09. Tory A. Duggins’s FINRA BrokerCheck report identifies the filing as a New York state tax lien in Orange County. The report marks that lien as outstanding.

Rule Summary #1: FINRA Rule 8210 (Information and Testimony)

FINRA Rule 8210 lets FINRA require documents, information, and testimony during an investigation. A failure to appear can block FINRA’s review of possible misconduct.

Rule Summary #2: FINRA Rule 2111 (Suitability)

FINRA Rule 2111 requires a reasonable basis for a recommendation and a fit with the customer’s profile. Excessive trading complaints often raise questions about cost, risk, and suitability.

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, Tory A. Duggins:

Is not currently registered.

Has passed the Securities Industry Essentials (SIE) exam. Tory A. Duggins has also passed Series 7 and Series 63.

Was previously registered with firms that include Spartan Capital Securities, LLC, Avenir Financial Group, and National Securities Corporation.

Kurta Law Can Help

If you have worked with Tory A. Duggins and you have concerns about his activity, Kurta Law may be able to help you evaluate your legal options. A securities attorney can help you assess potential causes of action and determine whether your losses may be recoverable through FINRA arbitration or other avenues. To speak with Kurta Law, call 877-600-0098 or email info@kurtalawfirm.com.

Helpful resources: Securities Attorney | Security Fraud

For nearly 20 years, Kurta Law has advocated for investors and helped hold financial professionals accountable. An attorney can review the facts and explain possible next steps.