Category Archives: Moloney Securities

Thomas G. Gresham-Moloney Securities Broker-Subject Of Numerous Energy Sector Loss Suits- Leawood, KS

May 2018-Leawood, KS

The Financial Industry Regulatory Authority (FINRA) is the agency that licenses and regulates stockbrokers and brokerage firms. FINRA requires brokers and brokerage firms to report customer complaints and disputes as well as regulatory sanctions. In addition brokers are required to disclose certain financial matters such as personal bankruptcies, judgments and liens.

According to FINRA records,  stockbroker Thomas G. Gresham , who is currently registered with Moloney Securities,  discloses fifteen prior customer disputes, many of which allege that he over-concentrated accounts with energy sector investments,  including:

  • FINRA Case 15-0633 by a customer of Moloney Securities aought damages of $150,000 on energy sector investment losses in the 4th quarter of 2014 . That case was settled for $55,000.
  • A 10/2015 complaint by a customer while Gresham was registered with Wells Fargo Advisors who alleged unsuitable recommendations, failure to supervise, violations of Kansas Securities Act. That claim was settled for $110,000.
  • A 7/2015 complaint by a customer while Gresham was registered with Wells Fargo Advisors who alleged unsuitable recommendations, failure to supervise, violations of Kansas Securities Act. That claim was settled for $335,000.
  • FINRA Case 14-01834 in which a customer while Gresham was registered with Wells Fargo Advisors alleged excessive and unsuitable trading and misappropriation of customer funds. That case was settled for $175,000.

Currently Pending Claim for $1 Million

For Energy Sector Losses

Gresham  discloses a currently pending dispute by a customer of his former employer, UBS Financial Services . In FINRA case 17-03338, filed in December 2017,  the customer, who is seeking $1 million in damages,  alleges that Gresham failed to convert a ROTH IRA into an ordinary IRA when it lost value causing the account to incur unnecessary tax liability and for losses on unsuitable investment recommendations. In addition the customer alleges excessive and unsuitable trading, fraud, negligence, breach of fiduciary duty and failure to supervise from 1-/2008-11/2017. The investments at issue include oil and gas equities and limited partnerships.

Gresham  has been registered with Moloney Securities since 7/2012. Prior to that he was registered with UBS Financial  Services from 10/2008-5/2012. He was discharged from UBS Financial in 5/2012. UBS made the following allegation on his FINRA record:

“Mr. Gresham’s employment was terminated when his managers lost confidence in his willingness to abide by the firm’s order entry policies because (1 )he mismarked solicited trades as unsolicited after previous discipline for excercising discretion and (2) he did not give satisfactory answers in connection with the firm’s review of the mismarking”

If you have questions about an account handled by Thomas G. Gresham  contact us to discuss your options and to learn how you may be able to recover damages through FINRA arbitration.

Rex Securities Law , with offices in Boca Raton, FL,  and  Austin, TX,   provides representation to  investors  nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.

Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

John R. McKinstry Investigation-Former Moloney Securities Broker-St. Louis

1/21/2016-St. Louis, MO

Rex Securities Law is investigating former Moloney Securities broker John R. McKinstry on behalf of an elderly retired couple.

According to his FINRA brokercheck report, McKinstry was discharged from Moloney Securities in August 2015. The termination comment provided by Moloney Securities states: “Internal review concerning customer complaints and FINRA cause exam”.  

This is not the first time McKinstry has been discharged by a broker dealer. In March 2004, he was discharged by Smith, Moore & Co. The termination comment provided by Smith, Moore states: “Violation of company policies & procedures”. 

In January 1997 he was ‘permitted to resign” from A.G. Edwards & Sons.  In May 1997 he was sanctioned by the State of Missouri who alleged that McKinstry inappropriately used margin for securities purchases in a customer account. In 1998 the New York Stock Exchange sanctioned McKinstry for margin related issues.

McKinstry’s FINRA report indicates that there have been numerous settlements with customers, including:

  • 2002-Settlement of $170,000 paid to customer who alleged unsuitablity and churning.
  • 1999- Settlement of $54,000 paid to customer who alleged losses of principal
  • 1996- Settlement of $63,961 to customer who alleged investment was not suitable based on age of client

We would like to speak with former customers of this broker who may have information helpful to this investigation.

Rex Securities Law , with offices in Boca Raton, FL,  and  Austin, TX,   provides representation to  investors  nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.

Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870