INVESTOR WARNING! Paul Alexander from Palm Beach Gardens, Florida
Have you lost money with financial advisor Paul Alexander of Palm Beach Gardens, Florida? We are investigating allegations made by FINRA, the Financial Industry Regulatory Authority, against Paul M. Alexander, Jr. FINRA suspended Alexander for 20 days regarding allegations that he exercised discretionary power in four customer accounts without prior written authorization.
According to FINRA’s allegations, Paul M. Alexander effected about 300 discretionary transactions (selling or purchasing securities without the client’s prior permission) between May 2009 and February 2013. His brokerage firm, Raymond James & Associates, requires that brokers obtain prior written authorization to execute trades on a discretionary basis, and Alexander failed to do so. To settle these allegations, Alexander agreed to pay a $5,000 fine and agreed to a 20-day suspension.
Paul Alexander was a financial advisor and registered representative of Raymond James & Associates from April 2009 to April 2015. He worked at a branch office in Palm Beach Gardens, Florida. According to FINRA’s Brokercheck, Alexander is the subject of five customer complaints, alleging unauthorized trading. Alexander was “permitted to resign” by Raymond James in March 2015.
Brokerage firms like Raymond James & Associates have a responsibility to adequately supervise all representatives who are registered through their firm. Brokerage firms also must take steps to ensure that their financial advisors follow all securities rules and regulations, as well as internal firm policies. When brokerage firms fail to adequately supervise their registered representatives, they may be liable for investment losses sustained by customers.
Israels & Neuman PLC is a securities and investment fraud law firm with offices in Chicago; Denver; Ann Arbor, Michigan; and the Seattle area. We represent investors in FINRA arbitration proceedings in all 50 states, including investors in Florida. Attorney David Neuman is licensed to practice law in Florida. We also currently represent a number of victims who have been wronged by their Florida brokers, including Miami area victims of the Phil D. Williamson Ponzi scheme and Tampa area victims of the Tri-Med scheme. Our attorneys have represented over one thousand investors against many brokerage firms in the past.
Click to view: Alexander, Paul FINRA AWC
Click to view: Alexander, Paul BrokerCheck 11.15.16
HAVE YOU LOST MONEY WITH PAUL ALEXANDER OR RAYMOND JAMES & ASSOCIATES?
CONTACT ISRAELS & NEUMAN, PLC FOR A FREE CASE EVALUATION
Aaron Israels: (720) 599-3505
David Neuman: (206) 795-5798
Israels & Neuman, PLC is a private law firm and is not affiliated with any government or law enforcement agency. Any investigation referenced in this blog is independent in nature and is being conducted by our law firm privately, not in conjunction with any government or law enforcement agency. All information contained in this blog should be deemed statements of opinion derived from the author’s review of public records, not statements of fact. This blog is advertising material and does not create an attorney client relationship, nor does it constitute legal advice. Everyone’s situation is different and the question of whether or not you have a claim will vary on a case-by-case basis. In contingent representation, clients may still be liable for costs.