Craig M. Gougis (CRD #3258023) Has Customer Dispute and Judgment/Lien Disclosures on FINRA BrokerCheck

Craig M. Gougis (CRD #3258023) is a broker currently registered with Emerson Equity LLC and an investment adviser representative with Penserra Wealth Management. We reviewed his BrokerCheck report on April 16, 2026. It reflects two customer disputes and six judgment/lien disclosures. If you invested with Craig M. Gougis and have concerns, keep reading.

BrokerCheck link: BrokerCheck

BrokerCheck report: BrokerCheck Report (PDF)

Investor Disputes / Customer Complaints

Craig Gougis’s FINRA BrokerCheck Report reflects two customer dispute disclosures. Summaries of the disputes are below:

On February 16, 2026, a customer alleged Craig Gougis committed breach of contract and violated securities laws and Regulation Best Interest in connection with a real estate security. The claim seeks $698,000 and is pending in a FINRA arbitration filed on January 21, 2026, under docket number 26-00125. Craig Gougis’s FINRA BrokerCheck report lists Emerson Equity LLC as the firm tied to the complaint.

On October 28, 2002, a customer alleged Craig Gougis failed to follow instructions on July 8, 2002, and July 29, 2002, in connection with mutual funds. The customer requested $12,000, and the matter settled on April 14, 2003, for $7,699.58. Craig Gougis’s FINRA BrokerCheck report lists Wells Fargo Investments as the employing firm and states he made no individual contribution to the settlement.

Judgment / Lien

Craig Gougis’s FINRA BrokerCheck Report reflects six judgment/lien disclosures. FINRA BrokerCheck shows all six as outstanding. Summaries of two disclosures are below, and four additional judgment/lien disclosures remain on the report.

On August 24, 2023, an Internal Revenue Service tax lien for $64,243.64 was filed in Orange County, California. Craig Gougis’s FINRA BrokerCheck report states the lien remains outstanding, and his broker statement says he later learned of the filing and entered a payment plan with the IRS.

A second Internal Revenue Service tax lien for $25,631.97 was filed on October 27, 2020, in Orange County, California. Craig Gougis’s FINRA BrokerCheck report lists the lien as outstanding.

Rule Summary #1: FINRA Rule 2111 (Suitability)

FINRA Rule 2111 requires a reasonable basis for each recommendation. It also ties the recommendation to the customer’s investment profile, including risk tolerance, liquidity needs, and financial goals. Complaints about unsuitable or poorly explained investments often raise issues under this rule.

Rule Summary #2: FINRA Rule 2010 (Standards of Commercial Honor and Principles of Trade)

FINRA Rule 2010 requires brokers and firms to observe high standards of commercial honor and just and equitable principles of trade. Customer disputes over conduct, disclosures, and account handling often turn on whether that standard was met.

Why This Matters to Investors (Regulation Best Interest)

Regulation Best Interest (Reg BI) is a U.S. securities regulation. It strengthens the standard of conduct that broker-dealers owe to retail investors. It applies when they recommend securities transactions or investment strategies. The U.S. Securities and Exchange Commission adopted Reg BI. It became effective on June 30, 2020. Reg BI aims to protect investors while preserving access to brokerage products and services.

Reg BI requires broker-dealers and financial advisors to act in a retail customer’s best interest at the time of a recommendation. They must not place their own financial or other interests ahead of the customer’s. This standard is higher than the older “suitability” rule. Suitability meant a recommendation only had to be appropriate. It did not have to be the best option or free of conflicts.

Reg BI has four key obligations:

Disclosure Obligation – Broker-dealers must disclose material facts about the relationship and the recommendation. This includes fees, the scope of services, and conflicts of interest.

Care Obligation – Broker-dealers must use reasonable diligence, care, and skill. They must consider costs, risks, and alternatives when making a recommendation.

Conflict of Interest Obligation – Firms must identify conflicts of interest. They must disclose them and mitigate or eliminate them. This includes conflicts that create incentives to favor one product over another.

Compliance Obligation – Firms must maintain policies and procedures. Those policies should be designed to ensure compliance with Reg BI as a whole.

Reg BI applies to each recommendation. It is not a continuous duty like the fiduciary standard for registered investment advisers. Even so, it narrows the gap. It puts more focus on costs, conflicts, and investor-focused decision-making.

Overall, Regulation Best Interest promotes transparency. It also aims to improve the quality of investment recommendations. It is designed to reinforce trust between retail investors and broker-dealers in the U.S. securities markets.

Background Information (from BrokerCheck)

Based on his FINRA BrokerCheck report, Craig Gougis:

Is currently registered with Emerson Equity LLC and Penserra Wealth Management.

Has passed the Securities Industry Essentials (SIE) exam. Craig Gougis has also passed Series 7, Series 3, Series 52TO, Series 99TO, Series 24, Series 53, and Series 66.

Was previously registered with firms that include National Securities Corporation, National Asset Management, Inc., SagePoint Financial, Inc., Citigroup Global Markets Inc., Wells Fargo Investments, LLC, and Merrill Lynch, Pierce, Fenner & Smith Incorporated.

Kurta Law Can Help

If you have worked with Craig Gougis and you have concerns about your investments, Kurta Law may be able to help you evaluate your legal options. To speak with Kurta Law, call 877-600-0098 or email info@kurtalawfirm.com.

Helpful resources: Securities Attorney | Unsuitable Investments

For nearly 20 years, Kurta Law has advocated for investors and helped hold financial professionals accountable. Our firm represents clients nationwide in securities arbitration and related disputes. If you believe a broker or firm mishandled your account, an attorney can review the facts and explain possible next steps.