David Kallman Paton of Saint Paul Minnesota a stockbroker and investment adviser representative of RBC Capital Markets LLC is referenced in a customer initiated investment related written complaint on June 25, 2020 in which the customer requested $38,000.00 in damages based upon accusations that the customer had been placed in stocks including SSYS and CGIZX that were not suitable given the customer’s risk tolerance while Paton was registered with RBC Capital Markets.
Paton has been identified in two additional customer initiated investment related disputes pertaining to his alleged wrongdoing while he was registered with PaineWebber Incorporated and RBC Capital Markets. FINRA Public Disclosure reveals that a customer initiated investment related complaint regarding Paton’s activities was settled for $12,200.00 in damages supported by allegations that the PaineWebber customer’s investment account had been excessively traded. The claim also alleges that the customer was led to purchase stocks without being made aware of the risks of those investments.
Paton is the subject of another customer initiated investment related written complaint that was resolved on February 26, 2018 for $10,000.00 in damages founded on accusations of the stockbroker concentrating the RBC Capital Markets customer’s portfolio in over-the-counter equities between January 23, 2014 and December 5, 2017. According to the claim, the equities were not suitable for the customer.
Paton was discharged by RBC Capital Markets on January 14, 2019 based upon allegations that he executed orders in violation of the securities broker dealer’s trading policy.
Paton’s registrations with RBC Capital Markets have been terminated as of January 22, 2019. Since January 23, 2019, he has been registered as a stockbroker and investment adviser representative of Oak Ridge Financial Services Group Inc.
