Gregg Gravenstine is Facing a FINRA Suspension
Gregg Gravenstine (CRD #: 1762521), a broker registered with Morgan Stanley, is the subject of an investor dispute. This is according to his BrokerCheck record, accessed on August 2, 2024. Keep reading if you have questions regarding his alleged conduct.
Regulatory Action
On June 20, 2024, Gregg Gravenstine consented to the entry of findings that he executed cash journals totaling $24,109 from a customer’s account to an account owned by a customer’s father. He allegedly did this at the instruction of his customer’s father, who was allegedly not authorized to direct transactions in the customer’s account.
FINRA further alleged that Gregg Gravenstine caused his member firm to maintain incomplete records by sending text messages from his personal cell phone to customers relating to firm business, which were allegedly not reviewed or retained by the firm.
Terms of the AWC
As part of the terms of the AWC, Gregg Gravenstine consented to a $10,000 fine and a 45-day suspension. You can read a copy of the AWC here.
FINRA Rule 4511
FINRA Rule 4511 requires firms to keep accurate and up-to-date books and records.
FINRA Rule 2010
FINRA Rule 2010 holds brokers to high standards of commercial honor and just and equitable principles of trade. Executing unauthorized cash journal transactions may violate this rule.
Background Information
Gregg Gravenstine has passed the following exams:
- Series 65 Uniform Investment Adviser Law Examination
- Series 63 Uniform Securities Agent State Law Examination
- SIE – Securities Industry Essentials Examination
- Series 31 Futures Managed Funds Examination
- Series 7 General Securities Representative Examination
He is a registered broker in 37 states and D.C. and is a registered investment adviser in New Jersey and Texas.
During his 36 years of experience, Gregg Gravenstine has registered with five firms:
- Morgan Stanley (CRD #: 149777)
- CitiGroup Global Markets (CRD #: 7059)
- Legg Mason Wood Walker (CRD #: 6555)
- Merrill Lynch, Pierce, Fenner & Smith (CRD #: 7691)
- Kidder, Peabody & Co. (CRD #: 7613)
Kurta Law Can Help
If you have worked with Gregg Gravenstine and have concerns about your investments, do not hesitate to contact us at 877-600-0098 or email info@kurtalawfirm.com for a free consultation.
For nearly 20 years, Kurta Law has advocated for investors to recover their investment losses from brokers and brokerage firms. Kurta Law is a nationally recognized law firm that 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. Do not let securities fraud go unchecked. Start your recovery process today.
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