INVESTOR ALERT—Aegis Capital Corp. Financial Advisor, Paul Falcon, Has Six Customer Complaints, Including One Pending Complaint

• March 1, 2019
• Aegis Capital Corp

Paul Falcon is a Financial Advisor at Aegis Capital in its Boca Raton, FL branch office.  Paul Falcon has been in the securities industry since 1994 and previously worked at Global Strategic Investments.

According to publicly available records released by the Financial Industry Regulatory Authority (FINRA), Paul Falcon has six (6) customer complaints disclosed on his CRD, including one pending complaint, alleging sales practice violations, and $1 million in alleged damages for “negligence, breach of fiduciary duty and breach of contract.” 

Among the other filed against Paul Falcon include the following:

• April 2017—” CLIENT ALLEGES UNSUITABLE INVESTMENT RECOMMENDATIONS, UNAUTHORIZED TRADING, EXCESSIVE TRADING AND POOR PERFORMANCE OF OVERALL PORTFOLIO.”  The matter was settled for $210,000.
• April 2016—”Client alleges unsuitable investment recommendations, poor performance of overall portfolio.”  Alleged damages were $190,672.
• February 2000—”
  CLIENT ALLEGES THAT HE TOLD MR. FALCON HE “WAS INTERESTED IN FIXED INCOME SECURITIES WITH THE HIGHEST YIELD CONSISTENT WITH SAFETY OF PRINCIPAL” AND THAT MR. FALCON “CONTRIED TO THAT SINCE HE WAS BUY FEDERAL HOME LOAN BONDS AT PAR, HE COULD SELL AT PAR ANYTIME.”  The matter was settled for $4,667.

For a copy of the Paul Falcon’s CRD, click https://brokercheck.finra.org/individual/summary/2464566#disclosuresSection

Financial advisors have a legal and regulatory obligation to recommend only suitable investments that are appropriate for their clients’ needs and objectives. Their employing brokerage firm has a legal and regulatory obligation to supervise the Financial Advisors’ sales practices and dealings with clients.  To the extent any of these duties are breached, the customer may be entitled to a recovery of his or her investment losses.  

The Wolper Law Firm represents investors nationwide in securities litigation and arbitration on a contingency fee basis.  Matt Wolper, the Managing Principal of the Wolper Law Firm, is a trial lawyer who has handled hundreds of securities cases during his career involving a wide range of products, strategies and securities.  Prior to representing investors, he was a partner with a national law firm, where he represented some of the largest banks and brokerage firms in the world in securities matters.  We can be reached at 800.931.8452 or by email at mwolper@wolperlawfirm.com.