FINRA found that Eric Kleiner (CRD 4135180) refused to provide documents and information it requested during an investigation. Without admitting or denying the findings, Kleiner consented to the sanction and to the entry of findings.
On August 20, 2020, the Financial Industry Regulatory Authority (FINRA) suspended, Stephen Paul Florio, a former Raymond James of Ft. Lauderdale, broker/financial advisor for 10 business days and fined him $5,000. Stephen Paul Florio is currently listed with Cambridge Investment Research, Inc. of Ft. Lauderdale, Florida. Florio’s suspension begins September 21, 2020 and ends October 2, 2020.
Without admitting or denying FINRA’s findings, Stephen Paul Florio, consented to the sanctions and to the entry of findings that he allegedly exercised discretion without written authorization in a client's account.
FINRA’s findings stated that due to the client's business and travel schedule, the client allegedly orally authorized Stephen Paul Florio to exercise discretion in the account. Florio, according to FINRA, did not have the client's written authorization to exercise discretion, nor was the account approved for discretion by his member firm. Florio also allegedly incorrectly answered "no" when asked, in two firm annual compliance questionnaires, whether he exercised discretion in any client's account.
According to FINRA’s BrokerCheck, Stephen Paul Florio, has 3 disclosures on his CRD report. One of the disclosures from August of 2018 is an “Employment Separation After Allegations.” Raymond James & Associates, Inc. discharged Florio following allegations that, “Financial Advisor was terminated after the Firm identified emails suggesting involvement with an unapproved outside business activity. In addition, the Firm was concerned about the FA's investments in low-priced securities about which he was in frequent communications with an individual with direct contacts with senior management.”
Stephen Paul Florio has been in the securities industry for 36 years and has been listed with 9 firms. He is currently listed with the following firm since 10/10/2018:
CAMBRIDGE INVESTMENT RESEARCH, INC.
888 SE 3rd Ave. Ste 401
Fort Lauderdale, FL 33316
Florio was more recently listed with:
06/19/2015 - 08/31/2018 RAYMOND JAMES & ASSOCIATES, INC. - FT. LAUDERDALE, FL
06/01/2009 - 07/09/2015 MORGAN STANLEY - FT. LAUDERDALE, FL
If you’ve experienced losses due to the actions or recommendations of Stephen Paul Florio of Cambridge Investment Research, and formerly of Raymond James, both of Ft. Lauderdale, Florida, contact the Pompano Beach, Florida-based, Soreide Law Group and speak to an experienced securities lawyer at no cost regarding the possible recovery of your investment losses through a FINRA arbitration at: 888-760-6552.
Soreide Law Group works on a contingency fee basis and represents our clients nationwide before FINRA.
FINRA found that Eric Kleiner (CRD 4135180) refused to provide documents and information it requested during an investigation. Without admitting or denying the findings, Kleiner consented to the sanction and to the entry of findings.
James Simmons (CRD 2438224) says he is not a respondent in a pending arbitration that appears on his BrokerCheck report. A claimant filed it on September 15, 2026, and the disclosure names Alexander Capital as the firm. The allegations are unproven, and no arbitrator has ruled on them. His statement disputes the claimant's account.
Diana Leon's BrokerCheck report shows a $700,000 settlement of a structured note arbitration in September 2026. Leon's CRD number is 4857407. The disclosure names Woodbury Financial as the firm, as do the other disputes on her report. Each involves structured notes, and each settled in September 2026.
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