The securities and investment fraud law firm Fitapelli Kurta is interested in speaking to investors who have complaints regarding Missouri and Illinois-based broker/adviser Gregory Bray (CRD# 2673259).
Gregory Bray has spent eighteen years in the securities industry. He has been registered with Smith Moore & Company in Clayton, Missouri since August 2015 and Alton Securities Group in Alton, Illinois since 1997. He was previously employed by A.G. Edwards & Sons in St. Louis, Missouri (1995-1996), and is currently a broker and investment adviser registered with 23 US states and territories.
According to his BrokerCheck report, Gregory Bray is the subject of two regulatory sanctions.
In June 2015 the Financial Industry Regulatory Authority (FINRA) sanctioned Gregory Bray following allegations he failed to supervise the activities of a registered principal of his member firm, Alton Securities. The principal in question was the firm’s Chief Executive Officer and Chief Compliance Officer, and was responsible for all other supervisory activities. According to FINRA, the principal recommended and sold complex products which neither he nor Mr. Bray fully understood. The products were Class A shares of leveraged/inverse mutual funds, which are typically costlier than Class B or Class C shares if the investor is engaged in short-term trading; in the case of long-term trading, Class A shares are often a cheaper investment. In Mr. Bray’s case, however, the customers were involved in short-term trading. FINRA concluded that neither Bray nor the principal under his supervision had a reasonable basis to conclude the products were suitable for the customers. Gregory Bray was issued a six-week suspension and a fine of $7,500.
In 2009 the State of New Hampshire sanctioned Gregory Bray, while he was President of Alton Securities, following allegations he executed certain trades without filing proper notice in the state. Mr. Bray was issued a fine of $1,200.
If you have lost money investing with Gregory Bray or Alton Securities, you may be entitled to recover your losses. Call the securities and investment fraud law firm Fitapelli Kurta at 877-238-4175 for a free consultation. All cases are taken on a contingency basis: Fitapelli Kurta only gets paid if and when you collect money. Time to file your claim might be limited, so we suggest you avoid delay. Call 877-238-4175 now to speak to an attorney for free.