Publicly available records provided by the Financial Industry Regulatory Authority (FINRA) on June 7, 2016 indicate that New York-based Newbridge broker Gregory Lourdin has been the subject of a customer complaint. The securities and investment fraud law firm Fitapelli Kurta is interested in hearing from investors who have complaints regarding Mr. Lourdin (CRD# 4152768).
Gregory Lourdin has spent 15 years in the securities industry and has been registered with Newbridge Securities Corporation in New York, New York since March 2016. Previous registrations include National Securities Corporation in New York, New York; Chase Investment Services in New York, New York; Capital Growth Financial in New York, New York; Arjent Services in Greenwich, Connecticut; and First Republic Group in New York, New York. Two of Mr. Lourdin’s former employers, Capital Growth Financial and First Republic Group, have since been expelled by FINRA. He is a registered broker with 18 US states and territories: Alabama, California, Connecticut, Florida, Indiana, Iowa, Minnesota, Mississippi, New Jersey, New York, North Carolina, Ohio, Oregon, Pennsylvania, Rhode Island, Texas, Washington, and Wisconsin.
According to his BrokerCheck report, Gregory Lourdin has received one customer complaint and is the subject of two tax liens.
In 2014, the State of New York filed a tax lien totaling $16,495 against Gregory Lourdin. The lien remains outstanding.
In 2014, the Internal Revenue Service filed a tax lien totaling $31,113 against Gregory Lourdin. The lien remains outstanding.
In 2012, a customer alleged Gregory Lourdin, while employed at National Securities, engaged in unauthorized trading. The complaint settled for more than $10,246.
In 2006, a customer alleged Gregory Lourdin, while employed at First Republic Group, misused margin. The customer sought $13,012 in damages in the complaint, which was closed.
According to FINRA rules and federal securities law, financial professionals like Gregory Lourdin are prohibited from executing transactions without a customer’s permission or authorization. There are some exceptions, including discretionary accounts and, in some circumstances, margin accounts. Brokers, investment advisers, and broker-dealer firms who effect unauthorized trades may be subject to disciplinary action by FINRA or the Securities and Exchange Commission.
“Margin” refers to the practice of borrowing funds from one’s broker or investment adviser to purchase a security, with that security itself used as collateral in the transaction. There are many benefits to purchasing securities on margin, chiefly the increase of purchasing power that allows investors to buy more securities without completely paying for them. There are also many risks, chiefly the increase in potential for significant losses. Brokers, investment advisers, and broker-dealer firms who unsuitably recommend investments on margin may be subject to disciplinary action by FINRA or the Securities and Exchange Commission.
If you or someone you know has complaints regarding Gregory Lourdin, call the securities and investment fraud law firm Fitapelli Kurta at 877-238-4175 for a free consultation. You may be entitled to recover lost funds. All cases are taken on contingency: we only receive payment if and when you collect money. Time to file your claim may be limited, so we suggest you avoid delay. Call 877-238-4175 now to speak to an attorney for free.