Gregory McLeod Allegedly Engaged in Fraud and Other FINRA Violations

Gregory McLeod (CRD #: 2741097), a broker registered with Newbridge Securities, allegedly violated several FINRA rules, according to his BrokerCheck record, accessed on August 27, 2022. Investors may have also engaged his services through Newbridge Financial Services Group. Keep reading to learn more about his conduct as a broker.

Investor Dispute

On July 5, 2022, an investor alleged that Gregory McLeod committed fraud, failed to supervise, breached his contract, violated FINRA Rule 2210, and committed violations of suitability. The client seeks $85,000 in this pending dispute.

FINRA Rule 3110

Failure to supervise violates FINRA Rule 3110, which requires firms to establish supervisory systems to maintain regulatory compliance. This includes making sure that supervisors have the necessary training or experience for their role.

FINRA Rule 2210

FINRA Rule 2210 governs how brokers and firms can communicate with the public. For example, it requires firms to review and approve retail communications before they are published.

FINRA Rule 2111

FINRA Rule 2111 requires brokers to use the information in an investor’s profile when making investment recommendations. Investors’ profiles describe characteristics like their age, risk tolerance, and investment goals.

Common violations of this rule include:

• Recommendations of high-risk investments, which are more likely to lose money.
• Recommendations of illiquid investments, which can be difficult to sell on short notice and come with high fees when investors cash out early.
• Excessive trading, which is quantitatively unsuitable. An excessive number of trades can generate fees and commissions that significantly eat into investors’ returns.
• Recommendations of unsuitable investment strategies. For instance, overconcentrating a client’s account in one sector can introduce an unsuitable degree of risk.

Investors who rely on brokers for recommendations may be able to recover their losses by seeking out FINRA arbitration.

Background Information

Gregory McLeod has passed the following exams:

• Series 66 – Uniform Combined State Law Examination
• Series 63 – Uniform Securities Agent State Law Examination
• SIE – Securities Industry Essentials Examination
• Series 7 – General Securities Representative Examination
• Series 4 – Registered Options Principal Examination

Gregory McLeod is a registered broker in 20 states and a registered investment adviser in Florida and Texas.

He has also worked for Preferred Securities Group (CRD#:35704) and Southern Financial Group (CRD#:16714).

Kurta Law Can Help

If you worked with Gregory McLeod and you have concerns about your investments, please contact us today at 877-600-0098 or info@kurtalawfirm.com for a free consultation.

For over 20 years, Kurta Law has advocated on behalf of investors who want to recover their investment losses from brokers and brokerage firms. Kurta Law is a nationally recognized law firm and exclusively represents investors against brokers and brokerage firms on a contingency basis. This means that the firm only earns a fee if our securities attorneys recover money on your behalf.