Written by The White Law Group• March 15, 2017• 6:05 pm• Securities Fraud Articles

Gregory R. Bauer Barred from Securities Industry

Concerned about investment losses with Gregory R. Bauer?

According to FINRA, Gregory R. Bauer (CRD#: 2552478, Saxonburg, Pennsylvania) has been permanently barred from the securities industry.

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The FINRA settlement alleges that over the course of several years while at the firm, Bauer was the registered rep serving his parents accounts at Waddell & Reed. Without notifying them or getting their permission, Mr. Bauer allegedly forged their signatures on withdrawal request forms he submitted, according to the settlement.

The findings stated that Bauer allegedly converted more than $400,000 from the customers, who were also his parents.

For FINRA’s full findings see FINRA case # 2016051501801.

According to his FINRA Broker Check, Bauer was registered with H. Beck in Moon Township, PA from 10/22/2013 – 09/29/2016. In September 2016, he was discharged from H. Beck due to the charges of misappropriated funds while working for Waddell & Reed. Bauer was registered with Waddell & Reed, Inc. in Pittsburgh, PA from 10/19/2004 – 10/23/2013.

Failure to Supervise

Brokerage firms are required to adequately supervise their advisors. They must ensure they are complying with FINRA rules.

When brokers abuse client accounts and conduct transactions that violate securities laws, the brokerage firm they are working with may be liable for investment losses. Brokerage firms that fail to monitor the business activities of their employees may be liable for investment losses.

The brokerage firms can be held responsible for any losses in a FINRA arbitration claim if it is determined that they failed to properly supervise their agent.

Free Consultation

If you suffered losses investing with Gregory R. Bauer, the attorneys at The White Law Group may be able to help you. For a free consultation, please call (888) 637-5510.

The foregoing information, which is all publicly available, is being provided by The White Law Group.

The White Law Group, LLC is a national securities fraud, securities arbitration, investor protection, and securities regulation/compliance law firm with offices in Chicago, Illinois and Franklin, Tennessee. For more information, please visit our website, www.whitesecuritieslaw.com.