Our firm is investigating Oppenheimer & Co. Inc. financial advisor Gregory Baines Iglow (CRD# 2783963) of Los Angeles, California, for potential investment-related misconduct, including unsuitable investment recommendations, fraud, misrepresentation, and negligence involving municipal and corporate bonds.
Financial Advisor’s Career History
According to FINRA BrokerCheck, Gregory B. Iglow entered the securities industry in 1997 and is currently registered as a Financial Consultant with Oppenheimer & Co. Inc. (CRD# 249) at its Los Angeles, California, branch, located at 10880 Wilshire Boulevard
He has held this position since June 14, 2007.
Prior to joining Oppenheimer, Iglow was employed with:
- RBC Dain Rauscher Inc. (CRD# 31194) — Beverly Hills, CA (02/2003–06/2007)
- Prudential Securities Inc. (CRD# 7471) — Los Angeles, CA (03/2000–02/2003)
- M.L. Stern & Co., LLC (CRD# 8327) — Beverly Hills, CA (01/1997–02/2000)
He is currently licensed in 27 U.S. states and territories and registered with nine self-regulatory organizations, including FINRA and the New York Stock Exchange
Gregory B. Iglow Fraud Allegations and Investor Complaints Explained
According to FINRA’s Central Registration Depository (CRD), Gregory Iglow has nine customer disputes, including two final actions, five denied or withdrawn complaints, and two pending FINRA arbitration cases
Customer Dispute – Award (FINRA Case #09-05195)
- Allegations: Breach of fiduciary duty, unsuitability, fraud, misrepresentation, omission of facts, and negligence involving company securities.
- Firms Involved: RBC Capital Markets Corporation and Oppenheimer & Co. Inc.
- Damages Awarded: $15,406 in compensatory damages and $1,715 in interest.
- Arbitration Decision: May 13, 2010 — The FINRA panel found Iglow jointly and severally liable for damages
- Claim Summary: The client alleged Iglow recommended a Tribune corporate bond in 2006 that became worthless following the company’s 2008 bankruptcy.
Customer Dispute – Settlement (Los Angeles County Superior Court, Case #BC427035)
- Date Filed: December 17, 2009
- Allegations: Misrepresentations and omissions regarding auction rate securities purchased between December 2007 and January 2008.
- Alleged Damages: $5,450,000
- Settlement Amount: $3,164,250
- Disposition Date: March 16, 2011
Other Historical Complaints (Denied or Withdrawn)
- FINRA Case #18-02493 — Withdrawn June 20, 2019
- Alleged unsuitability, fraud, breach of fiduciary duty, and negligence involving Puerto Rican municipal bonds (2013–2018).
- Claimed damages: $300,000.
- Customer Complaint (07/17/2014)
- Alleged omission of material information related to a municipal bond purchase; claimed damages of $283,784 and $40,698 in two related complaints.
- Both were denied by Oppenheimer.
- Customer Complaint (03/06/2009)
- Alleged dishonesty and misrepresentation involving Fannie Mae preferred shares; damages unspecified. Denied by firm.
- Customer Complaint (04/07/2003)
- Alleged misrepresentation involving BlackRock Municipal Income Trust Fund with $11,500 in claimed damages; complaint denied by the firm.
Pending Customer Complaints (2023–Present)
- FINRA Case #23-01541 — Filed May 25, 2023
- Allegations: Unsuitable investments, fraud, breach of fiduciary duty, negligence, and violations of state and federal securities laws related to municipal and private placement bonds purchased between 2018 and the present.
- Damages Sought: Over $3,000,000.
- Status: Pending arbitration
- FINRA Case #23-00735 — Filed March 29, 2023
- Allegations: Negligence, unsuitability, misrepresentation, and breach of contract in connection with Capital Trust Agency Florida Senior Living Bonds sold in 2019–2020.
- Damages Sought: $231,826.
- Status: Pending arbitration
Summary of Disclosures:
- 9 Customer Disputes Total
- 2 Final (1 Award, 1 Settlement)
- 5 Denied/Withdrawn
- 2 Pending Arbitrations (Damages > $3.2 Million)
- Allegations: Unsuitability, Fraud, Misrepresentation, Negligence, and Breach of Fiduciary Duty
- Products: Corporate Bonds, Municipal Bonds, Auction Rate Securities, and Private Placements
To obtain a copy of Gregory B. Iglow’s FINRA BrokerCheck report, visit this link.
Robert Wayne Pearce Is Committed to Recovering Your Investment Losses
FINRA Rule 2111 – Suitability
Under FINRA Rule 2111, brokers must have a reasonable basis to believe a recommendation is suitable for a customer’s financial circumstances. The pending and historical disputes against Iglow alleging unsuitable bond and private placement recommendations may represent violations of this rule if proven.
FINRA Rule 2010 – Standards of Commercial Honor and Principles of Trade
Rule 2010 requires brokers to maintain high standards of ethical conduct. Allegations of misrepresentation, omission of material facts, and breach of fiduciary duty may violate this rule if the investments were mischaracterized or sold without full disclosure.
FINRA Rule 2020 – Use of Manipulative, Deceptive, or Other Fraudulent Devices
This rule prohibits fraudulent or misleading behavior in the sale of securities. The auction rate securities and bond misrepresentation allegations cited in the prior and pending complaints may reflect violations of FINRA Rule 2020 if investors were misled about liquidity, risk, or creditworthiness.
For over 45 years, Robert Wayne Pearce has helped investors recover losses caused by broker fraud, negligence, and unsuitable recommendations. His firm, The Law Offices of Robert Wayne Pearce, P.A., represents clients nationwide on a no-recovery, no-fee basis.
Call (800) 732-2889 or email pearce@rwpearce.com for a free case review with an experienced securities attorney.
