Gregory Alan Levine, of Fort Lauderdale, Florida, a stockbroker registered with First Allied Securities, Inc., was fired on June 21, 2017, based upon accusations that he sold away from the firm, and failed to notify First Allied that he was subject of a customer initiated investment related complaint in which he was accused of effecting unauthorized trades.
Financial Industry Regulatory Authority (FINRA) Public Disclosure confirms that on October 6, 2015, a customer initiated investment related written complaint involving Levine’s conduct was settled for $2,589.74 in damages, in which the claim was founded on allegations of excessive commissions and suitability. Particularly, the customer alleged that Levine excessively charged commissions relating to the customer’s brokerage account holdings, and effected real estate investment trust and mutual fund transactions that were in no way suitable for the customer.
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