Written by The White Law Group• August 19, 2019• 5:54 pm• Blog, Current Investigations

Gregory T. Dean Broker Investigation

Financial Advisor Gregory T. Dean, Worden Capital Management Reportedly Barred from Securities Industry

Are you concerned about investments with Gregory T. Dean in Rockville Center, NY? If so, the securities attorneys at The White Law Group may be able to help you by filing a FINRA Dispute Resolution claim.

According to the Financial Industry Regulatory Authority, the regulator has reportedly permanently barred Gregory T. Dean from associating with any FINRA member at any time.

According to the Letter of Acceptance, Wavier & Consent posted on August 16, between December 2014 and December 2017, while associated with Worden, Dean allegedly churned and excessively traded seven customers’ accounts. This trading, which purportedly heavily utilized margin, allegedly caused significant account losses and high commissions and fees.

FINRA alleges that Dean’s trading in the seven customers’ accounts was “excessive and conducted with reckless disregard for the customers’ interests.”

According to his FINRA BrokerCheck report, Dean reportedly was affiliated with Worden Capital Management from November 2014 until June 2019 when he was allegedly discharged due to the recent bar by the Securities & Exchange Commission for prior regulatory violations involving using an alleged “in-and-out trading strategy that was unsuitable for customers in order to generate hefty commissions”.

He reportedly has 14 customer complaints filed against him, with one still pending, according to his broker report. Allegations include negligence, unsuitability, breach of fiduciary duty, breach of contract, negligent misrepresentation and omissions among others.

Investors may have claims

The White Law Group is investigating potential lawsuits regarding the liability that his former employers may have for failure to properly supervise Dean.

When brokers violate securities laws, such as the brokerage firm they are working with may be liable for investment losses through FINRA Arbitration.

Brokerage firms that fail to monitor the business activities of their employees may be liable for investment losses due to negligent supervision for the misconduct of their employees.

The White Law Group is a national securities fraud, securities arbitration, and investor protection law firm with offices in Chicago, Illinois and Franklin, Tennessee.

We represent investors in FINRA arbitration claims in all 50 states, including Maryland. Our attorneys have recovered millions of dollars from many brokerage firms in the past.