Stephanie Amundsen Murray (CRD #5469680, Allentown, Pennsylvania)

August 19, 2024 – An AWC was issued in which Murray was fined $10,000, suspended from association with any FINRA member in all capacities for two months, and suspended from association with any FINRA member in any Financial and Operations Principal (FINOP) capacity for one month. The suspensions will run consecutively. Without admitting or denying the findings, Murray consented to the sanctions and to the entry of findings that she shared commissions that were generated from securities transactions with an unregistered person. The findings stated that the unregistered person was involved in the sale of convertible debt on behalf of two companies. In connection with those transactions, those companies paid Murray’s member firm finder’s fees totaling approximately $26,000, from which the firm paid Murray commissions totaling $9,375. Murray then paid the commissions to the unregistered person, whom Murray knew had previously been barred by FINRA from associating with any FINRA member in any capacity. The findings also stated that Murray caused another former firm she was registered with to maintain inaccurate books and records and to file inaccurate Financial and Operational Combined Uniform Single (FOCUS) reports. As the firm’s FINOP, Murray failed to properly record the firm’s expenses on the firm’s general ledger and prepared inaccurate monthly FOCUS reports. The firm operated with an Expense Sharing Agreement (ESA) that it had entered into with its parent company. Pursuant to the ESA, the firm was required to pay approximately one-third of the shared expenses incurred. However, the firm did not record or pay its share of the expenses incurred under the ESA and instead made only limited payments to its parent company in arbitrary amounts. Murray did not reasonably ascertain the firm’s share of expenses that were due under the ESA and record them accurately on the firm’s general ledger. Murray then relied on the firm’s inaccurate general ledger to prepare the firm’s monthly FOCUS reports. Because the general ledger was inaccurate, the FOCUS reports were also inaccurate. The suspension in all capacities is in effect from September 16, 2024, through November 15, 2024. The suspension in any FINOP capacity will be in effect from November 16, 2024, through December 15, 2024. (FINRA Case #2021072336101)   If you have suffered losses as a result of Stephanie Amundsen Murray's act and/or actions, we would like to hear from you. We are currently investigating claims on behalf of clients who have suffered significant losses in their portfolios that are managed by Stephanie Amundsen Murray. The Schwartz Law Firm represents investors in claims against financial advisors and their firms. If you have questions about your potential claim or need assistance from an investment fraud lawyer, please contact us at 866-618-0545 or email Matthew Schwartz directly at mschwartz@tslfirm.com.