Gregory Flemming Jr., of Farmingdale, New York, a stockbroker formerly registered with Salomon Whitney Financial, has been suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon allegations that Flemming failed to demonstrate to FINRA staff that he complied with a customer initiated investment related settlement arrangement or arbitration award. Case No. 13-02396 (June 12, 2017). FINRA previously suspended Flemming on August 8, 2016, based upon the same allegations. Case No. 14-01901 (Aug. 8, 2016).
FINRA Public Disclosure reveals that Flemming has been identified in three customer initiated investment related disputes containing allegations of his misconduct while employed with Murphy & Durieu and John Thomas Financial. Particularly, on November 25, 2000, a customer filed an investment related written complaint involving Flemming’s conduct, in which the customer requested $40,000.00 in damages supported by allegations that Flemming failed to execute the customer’s stop loss order in connection with the customer’s over-the-counter equities holdings.
On March 23, 2016, a customer was awarded $50,000.00 in damages according to an investment related arbitration claim involving Flemming’s conduct, based upon allegations against Flemming of the failure to conduct due diligence, mishandling of the customer’s account, suitability, breach of contract and fiduciary duties, and fraud.
Subsequently, on August 8, 2016, a customer was awarded $100,000.00 in damages according to an investment related arbitration claim involving Flemming’s misconduct, founded upon allegations that Flemming made misrepresentations to the customer, negligently handled the customer’s portfolio, and breached his fiduciary obligations to the customer in reference to the customer’s private placement investments.
Since August 18, 2017, Flemming has been associated with twelve different broker dealers, ten of which have been expelled by securities regulators for violation of federal securities laws or are otherwise defunct. #cocoroach
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