Paul Francis Trimber, of Alexandria, Virginia, a stockbroker registered with Wells Fargo Clearing Services LLC, has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity because Trimber failed to cooperate in a FINRA investigation into whether he potentially made “unauthorized transfers of customer funds” to recipients outside of the securities broker dealer. Letter of Acceptance, Waiver, and Consent, No. 2024081427901 (March 22, 2024).
According to the AWC, an investigation initiated by FINRA stemmed from a Uniform Termination Notice for Securities Industry Registration (Form U5) filed by Wells Fargo on February 29, 2024. This Form U5 disclosed that Trimber had been discharged after admitting to making unauthorized transfers of customer funds. These allegations prompted FINRA to conduct an investigation into Trimber’s activities, especially focusing on whether Trimber had converted a senior customer’s funds for his personal use and benefit.
On March 12, 2024, as part of its investigation, FINRA staff sent a letter to Trimber under FINRA Rule 8210, requesting information and documents by March 26, 2024. However, Trimber, through his lawyer, acknowledged the receipt of FINRA’s request but refused to produce the requested information and documents. For this reason, Trimber violated FINRA Rules 8210 and 2010.
Trimber was associated with Wells Fargo Clearing Services LLC in Alexandria, Virginia, from July 1, 2003, to February 29, 2024.
