Aegis Broker Paul Falcon Allegedly Breached A Fiduciary Duty To Investor

The Financial Industry Regulatory Authority (“FINRA”) reports that there are allegations of sales practices violations by Aegis Capital Corp securities broker Paul Falcon (CRD#: 2464566, Boca Raton, Florida). In fact, FINRA BrokerCheck shows that six investors brought complaints or arbitration actions about him. Four of those disputes settled through payments to clients, one was denied, and one is awaiting a resolution. Notably, disputes from clients of Aegis Capital Corp – Falcon’s employer since 2013 – suggest that the broker acted negligently, breached a fiduciary duty, and made unsuitable, excessive trades.

Aegis Capital Corp Client Indicates Paul Falcon Breached A Fiduciary Duty

A client of Aegis Capital Corp brought FINRA Arbitration #: 18-04305 on December 19, 2018. Notably, the client indicated that Paul Falcon breached a fiduciary duty. This seems to suggest that Falcon placed his interests ahead of the client’s interests. Supposedly, Falcon acted negligently with respect to his investment recommendations or transactions. In addition, the client alleged that Falcon did not comply with terms of an investment agreement. For this reason, the client demanded $1,000,000 in damages in this pending matter.

Falcon Allegedly Makes Unauthorized and Excessive Trades

Evidently, a second Aegis Capital Corp client contested Paul Falcon’s sales practices through bringing FINRA Arbitration #: 17-00764. First of all, the client indicated that Falcon gave shoddy investment advice regarding investments. Secondly, Falcon allegedly made trades with no authorization from the client. Thirdly, Falcon made excessive stock or bond trades. Because of bad decisions Falcon allegedly made from August 1, 2013 to February 1, 2016, the client’s investment portfolio poorly performed. Evidently, Aegis Capital Corp opted to settle this matter through a $210,000 payment to the client on February 12, 2018.

Paul Falcon Allegedly Gave Bad Investment Advice

A third Aegis Capital Corp client filed a dispute about Paul Falcon in April 2016. It appears that Falcon may have provided this client unsuitable investment advice. Supposedly, Falcon did not have a reasonable basis to believe that his investment recommendations were suitable for the client. Also, the client suggested that the investments Falcon selected poorly performed. Because of this, the client alleged $190,672.12 in damages. However, there has been no action taken by the client since April 2017.

Did Falcon Sell You Bad Investments?

Lars Soreide Highest Ethical Standard Award 2018

Lars Soreide Highest Ethical Standard Award 2018

Experienced losses due to Aegis Capital Corp securities broker Paul Falcon? If so, contact Soreide Law Group at (888) 760-6552 and speak with experienced counsel about a possible recovery of your investment losses. Soreide Law Group represents clients on a contingency fee basis and advances all costs. The law firm has recovered millions of dollars for clients who have suffered losses due to misconduct of brokers and brokerage firms.