Christopher Vincent Paul of Mineola New York a stockbroker formerly registered with Joseph Stone Capital L.L.C. has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity founded on allegations that Paul failed to comply with FINRA’s request for information potentially relating to Paul’s employment separations after being subject of allegations of misconduct and Paul’s alleged wrongdoing as referenced in customer initiated investment related disputes. Case No. 2015047312301 (Nov. 14, 2016).
FINRA Public Disclosure reveals that Paul has been identified in six customer initiated investment related disputes containing accusations of his misconduct while employed with Joseph Stone Capital LLC, Aegis Capital Corp, Rockwell Securities LLC and Arjent Services LLC. Specifically, on July 21, 2018, a customer initiated investment related complaint regarding Paul’s activities was settled for $50,000.00 in damages based upon allegations of churning stock investments in the customer’s investment portfolio while Paul was employed by Arjent Services, LLC.
Then, on October 16, 2013, a customer initiated investment related complaint involving Paul’s conduct was resolved for $30,000.00 in damages supported by accusations that contractual obligations and fiduciary obligations owed to the customer had been breached; the customer’s account was churned; trades were not suitable for the customer; and the customer had been defrauded in reference to the over-the-counter equities and stock transactions effected in the customer’s account while Paul was registered with Rockwell Securities LLLC.
Thereafter, on December 20, 2013, a customer filed an investment related complaint concerning Paul’s conduct in which the customer sought $5,150.00 in damages founded on allegations that the customer incurred unjustified poor performance from trades placed in the customer’s account, and Paul executed over-the-counter equities transactions in the customer’s account without procuring the customer’s permission beforehand.
Another customer filed an investment related arbitration claim regarding Paul’s activities where the customer requested $40,000.00 in damages based upon accusations of excessive commissions being charged on investments; excessive margin in the customer’s account; negligence in the administration of the customer’s account activities; breach of fiduciary duties owed to the customer; unsuitable over-the-counter equities and exchange traded fund transactions being executed in the customer’s account, violations of NASD and FINRA Rules, and fraud being committed while Paul was employed by Rockwell Securities, LLC. FINRA Arbitration No. 14-02340 (Sept. 17, 2014).
Moreover, a customer initiated investment related arbitration claim concerning Paul’s activities was settled for $21,000.00 in damages supported by allegations of churning of the customer’s investment portfolio and an inappropriate investment strategy having been utilized for the customer’s account between October 2013 and June 2015. FINRA Arbitration No. 15-02341 (Sept. 10, 2016).
In addition, Paul has been discharged by three brokers based on misconduct accusations. Particularly, on July 21, 2008, Paul was discharged by Arjent Services LLC – a firm he had been employed with since April 11, 2006 – founded on allegations of Paul failing to conform to the firm’s policies and churning of a customer’s investment account. Paul’s subsequent employer, Rockwell Securities LLC, terminated him on June 11, 2012 based upon accusations that Paul accrued a number of customer initiated investment related complaints, and took information about customers from the firm without authorization. Thereafter, Paul was terminated by Aegis Capital Corp on January 31, 2014 supported by allegations that Paul was subject of customer complaints.
Six of the eight broker-dealers with whom Paul has been registered are defunct or have been expelled by regulators.
FINRA initially suspended Paul on November 14, 2016. Paul failed to comply with FINRA’s requests by a November 13, 2016 deadline – three months after he was provided a Notice of Suspension. Consequently, FINRA automatically barred Paul by November 14, 2016.
