Gregory McCloskey (CRD #: 2820510), an investment adviser registered with Quiver Financial Holdings, is the subject of a Financial Industry Regulatory Authority (FINRA) disciplinary proceeding, according to his IAPD Record, accessed on December 12, 2020. This disciplinary action involves allegations of undisclosed private securities transactions. For more details, keep reading.
On December 1, 2020, FINRA alleged that McCloskey had participated in two undisclosed private securities transactions, which are not allowed under FINRA Rule 3280 without written authorization from the member firm. Both transactions involved an investor who is an elderly widow. When the client complained about a $20,000 investment, McCloskey allegedly arranged to have his sister purchase the customer’s security. Later, when McCloskey was investigated by FINRA over selling away claims, McCloskey allegedly called the elderly widow and attempted to persuade her to create and sign a false written statement indicating that McCloskey did not participate in the $20,000 securities transaction. Further, FINRA alleges that this is the same company named in regulatory action against Gregory McCloskey in which FINRA alleged that McCloskey had engaged in “selling away,” which is a term that describes selling securities outside of the broker’s member firm. For more detail on FINRA’s allegations, you can read a copy of the disciplinary action here.
On October 7, 2019, Gregory McCloskey was permitted to resign from his position at WestPark Capital following allegations that he failed to follow a heightened supervision plan.
On April 30, 2018, a client alleged that McCloskey misrepresented certain securities and raised suitability concerns. The client is seeking $20,000; the dispute is pending.
On May 1, 2017, Gregory McCloskey entered into an Acceptance Waiver & Consent (AWC) agreement, in which he consented to the findings that he had introduced two of his clients to a company in which McCloskey had invested $50,000 of his own money. Gregory McCloskey consented to a fine of $5,000 and a suspension of 15 days.
Gregory McCloskey has passed the Series 66 Uniform Combined State Law Examination, the Series 63 Uniform Securities Agent State Law Examination, and the Securities Industry Essentials Examination, and the Series 7 General Securities Representative Examination. He is a registered investment adviser of California.
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- Brookstreet Capital (CRD #: 14667)
- SII Investments (CRD #: 2225)
- Dean Witter Reynolds (CRD #: 7556)
- Centaurus Financial (CRD #: 30833)
If Gregory McCloskey was your broker and you have questions about your investments, don’t hesitate to contact the securities attorneys of Fitapelli Kurta. Call (877) 238-4175 or email email@example.com for a free case consultation with a securities attorney.