Palmery Desir Discloses Allegations Of Unsuitable Recommendations

Soreide Law Group is investigating possible investor claims against securities broker Palmery Desir AKA Paul Desir [CRD#: 5559016, Huntington, NY]. Evidently, FINRA sanctioned the securities broker, who worked for Richfield Orion International. Allegedly, Desir made unsuitable recommendations. Here is a brief summary FINRA’s allegations against Desir.

FINRA Sanctions Richfield Orion International Securities Broker For Unsuitable Recommendations

Evidently, on May 27, 2022, FINRA issued Case #: 2020066911501 sanctioning Palmery Desir for infractions. Specifically, FINRA imposed a four-month suspension and a $5,000 fine. Notably, FINRA alleged that Desir made unsuitable recommendations.

Supposedly, between June 2018 and April 2019, Desir unsuitably and excessively traded a client’s account during the time that he was associated with Richfield Orion International Inc. Specifically, Desir recommended that the client make 330 trades in their account with a total principal value of over $3,860,000.00. The client accepted Desir’s recommendations and relied on his advice. As a result of the trades, the client had an annualized cost-to-equity ratio of 20% and had to pay more than $134,900.00 in commissions. Desir violated FINRA Rules 2010 and 2111 as a result.

Richfield Orion International Securities Broker Palmery Desir Sanctioned By FINRA For Excessive Trading

Also, FINRA issued Case #: 2020066911501 on May 27, 2022 sanctioning Palmery Desir for infractions. Allegedly, Desir made excessive and unsuitable transactions. Therefore, on May 27, 2022, FINRA issued a four-month suspension and a $5,000 fine.

Desir Discloses Sales Practice Violations Allegations By Richfield Orion International Client

Evidently, a client of Richfield Orion International contested Palmery Desir’s sales practices by filing FINRA Arbitration #: 21-02925 on December 16, 2021. Allegedly, Desir committed sales practice violations. Supposedly, the stocks which Desir sold or recommended had caused the client to sustain damages. Therefore, the client seeks compensatory relief from Richfield Orion International or Desir in the amount of $5,000 in this ongoing matter.

Craig Scott Capital Investor Accuses Palmery Desir Of Failure To Follow Instructions

Also, on December 18, 2012, a Craig Scott Capital client filed a complaint about Palmery Desir. Namely, the client alleged that Desir failed to follow the client’s instructions. Because of this, the client sustained damages on over-the-counter equities and stocks. Therefore, the client requested $35,000 in compensation from Craig Scott Capital or Desir. Evidently, this complaint is pending a resolution.

Recent Employer Information

Palmery Desir worked for Joseph Stone Capital in Syosset, NY, as a securities broker from August 10, 2016 to July 2, 2018. Desir was employed by Richfield Orion International in Huntington, NY, as a securities broker from May 31, 2018 to October 25, 2022.

Did Richfield Orion International Securities Broker Palmery Desir Cause You To Experience Damages?

Have you experienced damages by investing with Palmery Desir? If so, get in touch with Soreide Law Group at (888) 760-6552 and speak with a securities lawyer about a possible recovery of your investment losses. Notably, Soreide Law Group has effectively recovered money for investors throughout the United States. The firm represents clients on a contingency fee basis and advances all costs. Desir and brokerage firms Desir was employed by deny any and all allegations of sales practice violations.