Gregory Wayne Berg (CRD #3081088) Has Disclosures on FINRA BrokerCheck

Gregory Wayne Berg (CRD #3081088) was previously registered as a broker. We reviewed his BrokerCheck report on April 21, 2026. It reflects one customer dispute and one employment separation. If you invested with Gregory Wayne Berg and have concerns, keep reading.

BrokerCheck link: BrokerCheck

BrokerCheck report: BrokerCheck Report (PDF)

Investor Disputes / Customer Complaints

Gregory Berg’s FINRA BrokerCheck Report reflects one customer dispute disclosure. A summary of the dispute is below:

On February 23, 2026, a customer alleged Gregory Berg omitted material facts concerning a variable annuity purchased in February 2007. Gregory Berg’s FINRA BrokerCheck Report lists the product as an annuity-variable and shows requested damages of $143,000. BrokerCheck also reflects that the matter is pending in the 129th Judicial District Court of Harris County, Texas.

Employment Separation

Gregory Berg’s FINRA BrokerCheck Report also reflects one employment separation disclosure. A summary is below:

According to Gregory Berg’s FINRA BrokerCheck Report, LPL Financial LLC discharged Gregory Berg on December 15, 2025. Gregory Berg’s FINRA BrokerCheck states the allegations were that he failed to escalate a customer complaint timely and settled a customer complaint without prior written approval from the firm. BrokerCheck lists the product type as no product.

Rule Summary #1: FINRA Rule 2330 (Members’ Responsibilities Regarding Deferred Variable Annuities)

FINRA Rule 2330 applies to recommendations involving deferred variable annuities. It requires reasonable efforts to inform customers about material features such as fees, surrender charges, and market risk.

Rule Summary #2: FINRA Rule 3110 (Supervision)

FINRA Rule 3110 requires firms to maintain and enforce a supervisory system. Complaint escalation and approval controls can fall within that supervisory framework.

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, Gregory Berg:

Was previously registered with LPL Financial LLC.

Has passed the Securities Industry Essentials (SIE) exam. Gregory Berg has also passed Series 31 and Series 7. He has also passed Series 65 and Series 63.

Was previously registered with firms that include Merrill Lynch, Pierce, Fenner & Smith Incorporated and Morgan Stanley DW Inc.

Kurta Law Can Help

If you have worked with Gregory Berg and you have concerns about his activity, 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 | Investment Fraud

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.