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Richard Juracka: New York City Financial Advisor Suspended
A disciplinary action taken by the Financial Industry Regulatory Authority against New York City broker and investment advisor Richard Juracka (CRD# 708735) suspended him over allegations he exercised discretion without authorization. A representative of Morgan Stanley, Juracka was suspended for 20 days and fined $5,000.
According to a Letter of Acceptance, Waiver and Consent (No. 2017055321601) dated November 2018, FINRA received a call on its help line in August 2017 from a person who made allegations that Richard Juracka placed transactions in his mother’s account without first talking to her. Following this call, FINRA and Morgan Stanley initiated an investigation that ultimately determined Juracka made discretionary trades in the accounts of seven customers between August 2016 and July 2017. Their investigation found that he had received express or implied authority from the customers to exercise discretion, however, he had not received written authorization. FINRA also states that he had not received his member firm’s written authorization to effect transactions on a discretionary basis. The findings go on to state that he provided a “false response” on a Morgan Stanley annual compliance questionnaire in April 2017, attesting “that he had not exercised discretion in any customer account when, in fact, he had done so.” FINRA found that these cations constituted violations of NASD Rule 2510(b) and FINRA Rule 2010. As a result of the foregoing alleged conduct, he was suspended from association with any FINRA member firm in any and all capacities for 20 days. He was also ordered to pay a fine of $5,000.
Richard Juracka has been registered as a broker and investment advisor with Morgan Stanley in New York City since 2009. His employment history includes Morgan Stanley & Company in New York City and Morgan Stanley DW in New York City. He currently holds 29 state licenses and has passed six securities industry qualification examinations.