**Update: July 6, 2022** On June 24, 2022, former UBS broker Patrick R. Murray was suspended by the Financial Industry Regulatory Authority (FINRA). Mr. Murray, who is not currently associated with a brokerage firm, consented to the suspension after FINRA alleged that from March 2018 to January 2019, Murray violated FINRA Rules 3270 and 2010 by engaging in an outside business activity without providing prior written notice to his firm. As part of the agreement, Mr. Murray also agreed to pay a fine of $5,000.
Specifically, FINRA alleged that in March 2018, Mr. Murray and two other individuals established a company called Integrity Salt, LLC to buy and sell rock salt. Mr. Murray made capital contributions to Integrity Salt, LLC and made at least one vendor payment on behalf o the company by wiring more than a million dollars from his personal account directly to the vendor. Mr. Murray also earned approximately $78,704 in compensation from his activities related to Integrity Salt, LLC.
Iorio Altamirano LLP is investigating other potential claims related to Mr. Murray’s conduct and encourages anyone with information about Mr. Murray’s conduct or practices to contact our law firm. All conversations are confidential and privileged.