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Investor Alleges Gregory Dufala Used Margin Without Authorization

Gregory Dufala (CRD #: 5353950), a broker registered with LPL Financial, was recently the subject of an investor dispute, according to his BrokerCheck record, accessed on February 22, 2023. Investors may have also worked with him through Legacy Financial Consulting Services. Read on to learn more about his alleged conduct as a broker.

Investor Dispute

On December 29, 2022, an investor alleged that Gregory Dufala used margin in a managed account without the client’s authorization. This dispute was denied by the firm.

Investors should know, however, that firms don’t need to allow an external review before denying a dispute. Investors can still seek out FINRA arbitration and may be able to recover their funds after a denial.

FINRA Rule 3260

FINRA Rule 3260 limits brokers to exercising their trading discretion in pre-authorized discretionary accounts. These accounts must be approved for discretionary trading by both the client and the firm.

Background Information

Gregory Dufala has passed the following exams:

  • Series 66 – Uniform Combined State Law Examination
  • SIE – Securities Industry Essentials Examination
  • Series 7 – General Securities Representative Examination

Gregory Dufala is a registered broker in 15 states and a registered investment adviser in Pennsylvania and Texas.

He has also worked for the following firms:

  • PNC Investments (CRD#:129052)
  • NatCity Investments (CRD#:17490)
  • UBS Financial Services (CRD#:8174)

Kurta Law Can Help

If you worked with Gregory Dufala and you have concerns about your investments, please contact us today at 877-600-0098 or info@kurtalawfirm.com 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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