Greg D. Templeton, of New York, New York, a stockbroker formerly registered with Oppenheimer & Co., Inc., has been permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he obstructed a FINRA investigation into allegations of his sales practice violations and “mishandling” of customer money. Letter of Acceptance, Waiver and Consent, No. 2015046811401 (Apr. 20, 2017).
According to the AWC, on August 28, 2015, Oppenheimer & Co., Inc. informed FINRA that Templeton was terminated based allegations that the information discovered from an internal review of Templeton’s activities led the firm to believe that he engaged in capital raising and other consulting activities for an outside entity which was not disclosed to or otherwise approved by the firm. The AWC stated that FINRA launched an investigation into Templeton’s conduct, in which FINRA focused on whether funds of customers had been misused by Templeton in addition to exploring other possible sales practice violations committed by Templeton.
Apparently, on May 26, 2016, Templeton was sent a letter by FINRA staff, based on Rule 8210, which asked Templeton to furnish information and documentation related to the investigation. The AWC stated that Templeton did not respond to FINRA’s request by the due date. Then, Templeton was sent a second letter from FINRA on December 19, 2016. Following receipt of FINRA’s letter, two extensions were reportedly requested by Templeton and granted by FINRA in reference to the deadlines by which the information and documentation was due.
Subsequently, on February 10, 2017, Templeton’s counsel contacted FINRA staff to inform them that Templeton would at no point disclose the information and documentation in reference to the allegations against him; nor would he be cooperating further with FINRA. The AWC stated that Templeton’s refusal to cooperate was conduct violative of FINRA Rule 2010 and 8210.
Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that Templeton has been named in seven customer initiated investment related disputes containing allegations of his misconduct while associated with GKN Securities Corp., Morgan Stanley DW Inc., and Oppenheimer & Co. Inc. Specifically, on December 2, 2015, a customer initiated investment related written complaint regarding Templeton’s activities was resolved for $45,000.00 in damages based upon allegations that Templeton effected equity transactions in the customer’s account which were not authorized by the customer.
Subsequently, on January 20, 2016, a customer filed an investment related arbitration claim involving Templeton’s conduct, where the customer requested $6,750,000.00 in damages based upon allegations that Templeton induced the customer’s equity transactions based upon fraud and misrepresentations. Moreover, on July 19, 2016, a customer initiated investment related complaint involving Templeton’s conduct was settled for $61,475.00 in damages based upon allegations that Templeton effected unauthorized equity transactions in the customer’s account.
Following Templeton’s termination from Oppenheimer & Co., Inc., he worked at FSC Securities Corporation from September 28, 2015, to January 26, 2016. He was also briefly associated with Aegis Capital Corp. from January 28, 2016, to March 4, 2016.
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