Paul Gordon of Paramus New Jersey a stockbroker formerly employed by RBC Capital Markets LLC is the subject of a customer initiated investment related written complaint which was settled for at least $5,000.00 on January 31, 2018 based upon accusations that the customer was provided unsuitable investment recommendations concerning the purchase of municipal bonds despite the customer particularly requesting that there be no unnecessary risk taken with the customer’s funds at the time.
Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that Gordon has been identified in three additional customer initiated investment related disputes containing allegations of his misconduct while employed with J.B. Hanauer Co. In particular, on February 27, 2000, a customer initiated investment related complaint involving Gordon’s activities was resolved for $13,500.00 in damages founded on accusations that unsuitable trades had been executed in the customer’s investment account; and misrepresentations were made to the customer concerning those corporate debt investments purchased by the customer.
Thereafter, a customer initiated investment related arbitration claim involving Gordon’s conduct was settled for $40,980.72 in damages supported by allegations that the customer’s account was mishandled; transactions were effected by Gordon or the firm violation of National Association of Securities Dealers (NASD) Rules, Securities Exchange Act of 1934, and the State of New Jersey Securities Act; contractual and fiduciary obligations had been breached; the customer’s assets were converted; and the customer had been defrauded. NASD Arbitration No. 02-5072 (Mar. 23, 2004).
Then, on November 20, 2003, a customer filed an investment related complaint concerning Gordon’s conduct where the customer requested $15,000.00 in damages based upon accusations that misrepresentations were made to the customer about the corporate debt products purchased for the customer’s investment account.
Gordon has also been fined $15,000.00, suspended in all principal capacities for nine months, and suspended for three months in all capacities by Securities Exchange Commission (SEC) according to an Order based on findings that while Gordon was associated with J.B. Hanauer Co., Gordon failed to supervise a broker of the firm who was one of five brokers that engaged in fraudulent activities; churned customer accounts; and effected unsuitable sales. Case No. 3-992. SEC found Gordon failed to supervise the brokers of the firm in a manner that would prevent violations of Securities Exchange Act of 1934 Section 10(b) and Securities Act of 1933 Section 17(a).
Gordon’s registration with RBC Capital Markets LLC has been terminated as of April 6, 2016. Since April 5, 2016, Gordon has been registered with Ameriprise Financial Services.
