Investor Alleges Excessive Trading in Dispute with Gregory Stevens

Gregory Stevens (CRD #: 5787662), a broker registered with Spartan Capital Securities, is involved in a pending dispute, according to his BrokerCheck record, accessed on March 29, 2023. If you have questions about his alleged conduct as a broker, read on.

Investor Dispute

On January 9, 2023, an investor filed a dispute naming Gregory Stevens in allegations of churning, failure to supervise, negligence, and gross negligence. The client alleged that this misconduct occurred in February 2020. This dispute is currently pending.

FINRA Rule 2111

FINRA Rule 2111 requires brokers to tailor their investment recommendations to suit investors’ profiles. These profiles describe an investor’s tax status, age, and risk tolerance.

A series of securities transactions may be quantitatively unsuitable, meaning that the broker executed an excessive number of trades that generated fees and commissions that significantly reduced the clients’ returns.

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

FINRA Rule 3110

FINRA Rule 3110 requires that firms establish systems of supervision to maintain their compliance with securities regulations. Among other things, firms must appoint supervisors and provide them with Written Supervisory Procedures (WSPs) to follow.

What qualifies as broker negligence?

Many types of broker misconduct may qualify as negligence, including unsuitable investment recommendations, excessive trading, and misrepresentations or omissions of material fact.

Background Information

Gregory Stevens has passed the following exams:

• Series 63 – Uniform Securities Agent State Law Examination
• SIE – Securities Industry Essentials Examination
• Series 7 – General Securities Representative Examination

Gregory Stevens is a registered broker in 12 states.

He has also worked for the following firms:

• Joseph Stone Capital (CRD#:159744)
• Laidlaw & Company (UK) (CRD#:119037)
• Global Arena Capital Corporation (CRD#:16871)

Kurta Law Can Help

If you worked with Gregory Stevens 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.