Gary Gray Allegedly Exercises Discretion Without The Proper Authorization

The law firm of Oakes & Fosher is presently investigating the alleged misconduct of former securities broker Gary Gray. According to his publicly available FINRA BrokerCheck report, Gary Gray has been the subject of a FINRA sanction.

Gary Gray was a Nevada based securities broker. He worked in the securities industry for thirty years. During his career, he was registered with four different securities firms.

His Registrations

• Bateman Eichler, Hill Richards (1987-1988)


• Painewebber Incorporated (1988-2000)


• Prudential Securities Incorporated (2000-2003)


• Wells Fargo (2003-2017)

The Allegations

Gary Gray was officially sanctioned by FINRA in December 2017. The findings in this matter state that he allegedly exercised discretion in accounts maintained by eight of his member firm's customers. He allegedly affected approximately 236 discretionary trades without obtaining prior written authorization from the customers to exercise discretion in their accounts. The member firm had also not approved any of the accounts for discretionary trading. Due to these allegations, Gray was fined $10,000 and suspended for a period of three months.

Oakes & Fosher Can Help

Many investors are unaware of the legal recourse available to them after losing money due to securities broker fraud and/or negligence. The truth is that investors who have lost money in this fashion may actually be entitled to damages.

Oakes & Fosher dedicates its entire legal practice to helping investors across the nation. If you, or someone you know, have lost money investing with Gary Gray, please contact Oakes & Fosher for a free and private consultation.