Maryland

Muratore failed to respond to an Order to Show Cause issued on 4/04/2022 after he entered into an AWC with FINRA, consenting to a two (2) year suspension or various violations of the Securities Act.

Order

Denial

Revocation

FINRA

Respondent Muratore failed to comply with an arbitration award or settlement agreement or to satisfactorily respond to a FINRA request to provide information concerning the status of compliance.

Letter

Suspension

All Capacities

Indefinite

Continues until required payment is made or discharged.

4/14/2022

Pursuant to Article VI, Section 3 of FINRA By-Laws, and FINRA Rule 9554, Respondent Muratore is suspended on April 14, 2022 for failure to comply with an arbitration award or settlement agreement or to satisfactorily respond to a FINRA request to provide information concerning the status of compliance.

BENCHMARK INVESTMENTS, LLC

Permitted to Resign

Without admitting or denying the findings, Muratore consented to the sanctions and to the entry of findings that he forged the signature and initials of a customer on 18 documents in connection with the surrender of three annuities owned by the customer and the purchase of a new variable annuity for the customer. Muratore signed the customer's name and initials on the documents without the customer's prior knowledge or authorization. In addition, Muratore falsified the customer's account record by changing the date on a document so that it appeared to show that he and the customer had signed the document one month after they actually signed it. By forging and falsifying documents, Muratore caused his member firm to maintain inaccurate books and records. The findings also stated that Muratore circumvented the firm's procedures in becoming a beneficiary of another customer' s account. The customer, who was not related to Muratore, named Muratore as a 50 percent beneficiary of a new Transfer on Death account that the customer opened at the firm for which Muratore was broker of record. Despite being aware of the firm's procedures and that the customer had designated him as a beneficiary, Muratore did not disclose to the firm his designation as the customer's beneficiary. The findings also included that Muratore impersonated a different customer during three telephone calls with an insurance company in an attempt to advance the process for surrendering an annuity that the customer held with the insurance company to fund the purchase of securities at the firm through Muratore. The customer eventually surrendered the annuity and deposited the proceeds in an account at the firm.

FINRA

Without admitting or denying the findings, Muratore consented to the sanctions and to the entry of findings that he forged the signature and initials of a customer on 18 documents in connection with the surrender of three annuities owned by the customer and the purchase of a new variable annuity for the customer. Muratore signed the customer's name and initials on the documents without the customer's prior knowledge or authorization. In addition, Muratore falsified the customer's account record by changing the date on a document so that it appeared to show that he and the customer had signed the document one month after they actually signed it. By forging and falsifying documents, Muratore caused his member firm to maintain inaccurate books and records. The findings also stated that Muratore circumvented the firm's procedures in becoming a beneficiary of another customer's account. The customer, who was not related to Muratore, named Muratore as a 50 percent beneficiary of a new Transfer on Death account that the customer opened at the firm for which Muratore was broker of record. Despite being aware of the firm's procedures and that the customer had designated him as a beneficiary, Muratore did not disclose to the firm his designation as the customer's beneficiary. The findings also included that Muratore impersonated a different customer during three telephone calls with an insurance company in an attempt to advance the process for surrendering an annuity that the customer held with the insurance company to fund the purchase of securities at the firm through Muratore. The customer eventually surrendered the annuity and deposited the proceeds in an account at the firm.

Acceptance, Waiver & Consent(AWC)

Civil and Administrative Penalty(ies)/Fine(s)

$25,000.00

Suspension

All Capacities

Two Years

4/18/2022

4/17/2024

FINANCIAL RESOURCES GROUP INVESTMENT SERVICES, LLC

Discharged

Represented himself as client on calls with annuity provider to obtain information related to variable annuity liquidation. Client was present during the calls and approved the transaction. No customer complaint alleged

LPL Financial LLC

Discharged

Represented himself as client on calls with annuity provider to obtain information related to variable annuity liquidation. Client was present during the calls and approved the transaction. No customer complaint alleged.

CLIENT ALLEGES SIGNATURE ON DOCUMENTS REGARDING MANAGED ACCOUNT IS NOT AUTHENTIC. ACTIVITY DATES: 1/30/19 TO 3/29/19.

$5,000.00

$12,581.57

MR. MURATORE'S INVOLVEMENT WITH THE ACCOUNT IN QUESTION WAS LIMITED IN THAT IT WAS A MANAGED ACCOUNT HE INHERITED IN OR ABOUT JANUARY 2019 AND BRIEFLY REMAINED THE FINANCIAL ADVISOR FOR APPROXIMATELY FOUR MONTHS UNTIL IN OR AROUND APRIL 2019. MR. MURATORE HAS NO KNOWLEDGE OF ANY ALLEGEDLY IN AUTHENTIC CLIENT SIGNATURE, RELIED HERE ON JP MORGAN SECURITIES, LLC'S SIGNATURE VERIFICATION PROTOCOLS AND DENIES ANY ALLEGATIONS CONCERNING HIM.

JPMORGAN CHASE BANK, NA

Discharged

NON SECURITIES RELATED. REGISTERED REP WAS TERMINATED FOR DISPUTING CHARGES ON HIS PERSONAL AFFILIATE BANK CREDIT CARD. REGISTERED REP STATES HE INITIALLY DID NOT RECOGNIZE THESE AS LEGITIMATE CHARGES AND HAS SINCE PAID THEM IN FULL.

CREDIT SUISSE SECURITIES (USA) LLC

Voluntary Resignation

ALLEGATIONS INVOLVING TRADING IN A CUSTOMER'S ACCOUNT BETWEEN APRIL AND AUGUST 2008.