Barred Broker: Former Oppenheimer & Co. Inc. Financial Advisor Gregg Templeton
Posted on Thursday, July 20th, 2017 at 10:05 am
Erez Law is currently investigating former Oppenheimer & Co. Inc. financial advisor Gregg Templeton (CRD# 2412775) regarding misrepresentation and omissions. Templeton was registered with Oppenheimer & Co. in New York, New York from 2007 to 2015. Then, he was employed at FSC Securities Corporation in New York, New York from September 2015 to January 2016 and with Aegis Capital Corp. in New York, New York from January to March 2016.
In April 2017, “Without admitting or denying the findings, Templeton consented to the sanction and to the entry of findings that he failed to provide documents and information requested by FINRA during the course of an investigation into allegations that he, among other things, misused customer funds and committed other sales practice violations,” according to the Acceptance, Waiver & Consent (AWC). Templeton was barred from acting as a broker or otherwise associating with firms that sell securities to the public.
Additionally in 2006, Templeton voluntarily resigned from Morgan Stanley in New York, New York regarding, “Failed to obtain approval for website and to notify firm of material change in previously approved outside business activity.”
Templeton has been the subject of seven customer complaints between 1997 and 2016, one of which was closed without action, according to his CRD report:
March 2016. “Claimant alleges unauthorized trading, from 5/18/2012 to 5/18/2012.” The case was settled for $61,475.
January 2016. “Client’s attorney alleges that defrauded the client through misrepresentations and ommissions (sp) with regard to a security, the time period specified is between in or about December 2013 and May 2015.” The customer is seeking $6,750,000 in damages and the case is currently pending.
January 2016. “Claimant alleges that Templeton misappropriated $19,500 by withdrawing funds from Claimant’s account for Templeton’s personal use. Claimant also alleges that Templeton made unsuitable investments and asserts additional claims for fraud, breach of fiduciary duty, breach of contract and negligent supervision/hiring. FROM 7/1/2010 TO 3/31/2015.” The client sought $220,000 in damages and the case was settled for $562,500.
December 2015. “Client alleges unauthorized transactions took place in his account. No time period specified, but account opened in February 2015.” The client sought$45,000 in damages and the case was settled for $30,000.
March 2003. “Customer alleged investments were unsuitable.” THe case was settled for $5,575.91.
September 1997. “Failure to execute a sell order-alleged damages $6,000.” The client sought $6,000 in damages and the case was settled for $4,525.
Pursuant to FINRA Rules, member firms are responsible for supervising a broker’s activities during the time the broker is registered with the firm. Therefore, Oppenheimer & Co. Inc. may be liable for investment or other losses suffered by Templeton customers.
Erez Law represents investors in the United States for claims against former Oppenheimer & Co. Inc. financial advisor Gregg Templeton regarding misrepresentation and omissions. If you were a client of Oppenheimer & Co. Inc. or another firm, and have experienced investment losses, please call us at 888-840-1571 or complete our contact form for a free consultation. Erez Law is a nationally recognized law firm representing individuals, trusts, corporations and institutions in claims against brokerage firms, banks and insurance companies on a contingency fee basis.