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Gregory Collins Fined by FINRA Following Outside Business Allegations

Gregory Collins (CRD #: 4224616), a broker previously registered with LPL Financial, is facing a FINRA suspension following allegations of outside business activities. This regulatory disclosure appears on his BrokerCheck record, accessed on August 8, 2023. Details are provided below. 

On July 24, 2023, Gregory Collins consented to an Acceptance, Waiver, and Consent agreement that alleged he had earned $150,000 by engaging in five outside business activities. One of these business activities allegedly involved serving as a strategic advisor for a hedge fund. The AWC alleges he inaccurately described his role with the hedge fund as merely a consultant. He allegedly worked as a lecturer in finance at two universities. The AWC further alleges Gregory Collins created a website for the ultimate purpose of selling online financial education courses. The firm allegedly specifically denied approval of the website as an outside business. 

FINRA Rule 3270

FINRA Rule 3270 requires brokers to inform their firms of any outside business activities. The brokerage firm may prohibit the activity if the firm believes the proposed activity may compromise their duties as a broker. Firms may also require brokers to seek approval for any outside business.

Outside Businesses

Gregory Collins has the following outside businesses listed on his detailed BrokerCheck record

  1. Rensselaer Polytechnic Institute: Lecturer
  2. Bass Rock Capital Management: Strategic advisor
  3. National DI: Insurance agency 

Terms of the Agreement 

As part of the terms of the AWC, Gregory Collins consented to a six-month suspension and a $12,500 fine. You can read a copy of the AWC here

Background Information 

Gregory Collins has passed the following exams: 

  • Series 66 Uniform Combined State Law Examination 
  • Series 65 Uniform Investment Adviser Law Examination 
  • Series 63 Uniform Securities Agent State Law Examination 
  • Series 3 National Commodity Futures Examination 
  • SIE – Securities Industry Essentials Examination 
  • Series 7 General Securities Representative Examination 
  • Series 55 Limited Representative-Equity Trader Exam 
  • Series 24 General Securities Principal Examination 

Gregory Collins has registered with the following firms: 

  • LPL Financial (CRD #: 6413)
  • Invest Financial (CRD #: 12984) 
  • MML Investors Services (CRD #: 10409) 
  • NYLife Securities (CRD #: 5167) 
  • Lehman Brothers (CRD #: 7506) 
  • SG Cowen Securities Corporation (CRD #:7617)

Kurta Law Can Help

If you worked with Gregory Collins and you have concerns about your investments, please contact us today at 877-600-0098 or 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.



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