The law offices of Gana LLP continue to report on investor related losses and potential legal remedies due to recommendations to investor in oil and gas and commodities related investments. According to BrokerCheck records, Customers have filed about seven complaints with the Financial Industry Regulatory Authority’s (FINRA) against broker Jeffrey Grayson (Grayson), a former registered representative with Wells Fargo Advisors (Wells Fargo) out of the firm’s Florham Park, New Jersey office location.
Some of the customer complaints against Grayson allege a number of securities law violations including that the broker made unsuitable investments and overcenoncetrated clients in oil & gas related investments among other claims. The most recent complaint was filed in June 2017 and alleged unauthorized trading and unsuitable investments. The complaint is currently pending.
In February 2017 FINRA suspended Grayson alleging that Grayson exercised discretion in four accounts without written authorization from those customers and without having obtained approval from his member firm to treat those customer accounts as discretionary. FINRA also found that Grayson provided inaccurate responses about his use of discretion on the firm’s annual compliance documents.