DID GREGORY ALAIN HERSCH CAUSE YOU INVESTMENT LOSSES?
Gregory Hersch Of Old City Securities LLC Has 2 Customer Complaints For Alleged Broker Misconduct
About Gregory Hersch of Old City Securities LLC?
Gregory Hersch (CRD #3254629) is not currently registered as a broker. Over his career, he has been associated with several firms, including Old City Securities LLC, Fusion Analytics Securities LLC, and Innovation Partners LLC, primarily operating out of New York, New York. Hersch has passed three general industry/product exams—Series 7, Series 31, and the Securities Industry Essentials (SIE) exam—along with one multi-state securities law exam, Series 66. His professional journey reflects a significant tenure in the securities industry, with roles at notable firms such as UBS Financial Services and Citigroup Global Markets.
Investment Losses? Let’s talk.or, give us a ring at (800) 732-2889.
Gregory Hersch Customer Complaints and Reviews
Gregory Hersch has a few significant disclosure events in his record:
- Regulatory Event (1 occurrence): A finalized action by the SEC involving a cease and desist order related to failure to disclose conflicts of interest connected to client investments in a private fund, resulting in a civil penalty of $200,000.
- Customer Disputes (2 occurrences):
- One dispute settled for $825,000, involving allegations of breach of fiduciary duty and fraud related to investments in a private fund.
- Another dispute currently pending, where a counterclaim for breach of fiduciary duty and fraud was filed in response to a fee collection suit by Hersch’s firm, with damages alleged to exceed $75,000.
Allegations Against Gregory Hersch
The allegations and accusations in regulatory actions and customer complaints against Gregory Hersch include:
- Failure to Disclose Conflicts of Interest: Hersch and his firm failed to adequately disclose to clients that they were receiving substantial advisory fees from investments they were recommending.
- Breach of Fiduciary Duty: Allegations include Hersch not acting in the best financial interests of his clients, particularly concerning investments in private funds.
- Fraud and Misrepresentation: Hersch faced accusations of engaging in fraudulent activities and misrepresenting investment opportunities to clients.
- Negligence: Including allegations of negligence in handling client investments and advisory duties.
Gregory Hersch Red Flags & Your Rights As An Investor
Of course, Gregory Hersch did not admit to any of the allegations. But regardless of whether an arbitration award was entered, a settlement occurred, or the customer complaint is still pending, the allegations made by customers are red flags which should put all current and former customers of Gregory Hersch at Old City Securities LLC on alert to review carefully the activity and performance of their accounts and question whether Gregory Hersch has engaged in any stockbroker misconduct that may have caused them investment losses. The large number of customer complaints at Old City Securities LLC also raises questions about the brokerage firm’s supervisory practices. If these red flags raise questions, call us and we will inform you of your rights as an investor.
Did You Lose Money Because of Broker Misconduct?
If you have lost money due to negligence or fraud by a stockbroker or advisor, the easiest way to know if you have a case is to call our office at 800-732-2889. Our investment fraud attorneys will evaluate your claim for free and let you know if we can help you recover your losses.
Need Legal Help? Let’s talk.or, give us a ring at 561-338-0037.
File A Claim To Recover Your Investment Losses At Old City Securities LLC Due To Gregory Hersch
If you have questions about Old City Securities LLC and/or Gregory Hersch and the management or performance of your accounts, please contact Attorney Pearce for a free initial consultation via email or Toll Free at 1-800-732-2889.
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