June 23, 2015 – Iowa Insurance Commissioner Nick Gerhart announced that a hearing is scheduled regarding the denial of Iowa securities licenses and the revocation of insurance licenses for David Gray of East Peoria, Illinois.
“Mr. Gray’s conduct raises serious questions regarding his fitness to hold securities or insurance licenses in the State of Iowa,” Deputy Commissioner Doug Ommen said. “The Iowa Insurance Division is here to help protect our citizens from being taken advantage of and whenever we see unethical behavior, we try to move swiftly to take action.”
Gray is accused of three violations including engaging in dishonest or unethical practices in the securities or insurance business within the previous 10 years, dishonest practices and untrustworthiness in conduct of insurance business and accepting prohibited gifts to a producer’s family from an insurance customer.
Iowa Insurance Commissioner Nick Gerhart will hold the hearing at the Iowa Insurance Division offices on August 28, 2015 at 9:00 a.m.