Paul F. Seymour Review Summary
If you are in the market for a good financial advisor or firm, then avoid Paul F. Seymour at all costs. Previous clients have reported and complained about serious financial damages and/or fraud. Paul F. Seymour is also under FINRA’s radar. Previously FINRA has uncovered well-reputed firms and advisors to be guilty of shocking crimes, which include but are not limited to:
- Siphoning Of Client’s Funds
- Dereliction of Duty
Nefarious Background Of Paul F. Seymour (CRD No. 2002154)
Seymour first became registered with FINRA in 1989. Seymour became registered as a
General Securities Representative through an association with Cadaret, Grant & Co., Inc.
(CRD No. 10641) (Cadaret Grant or the Firm) in May 2006. Seymour is currently
registered in that capacity through Cadaret Grant.
Respondent does not have any disciplinary history with the Securities and Exchange
Commission, any state securities regulators, FINRA, or any other self-regulatory
Criminal Activity(s) Reported – Paul F. Seymour
NASD Rule 2510(b) prohibits registered representatives from “exercis[ing] any
discretionary power in a customer’s account” unless the customer has provided prior
written authorization to the representative and the account has been accepted as a
discretionary account, in writing, by the representative’s member firm. A violation of
NASD Rule 2510(b) is also a violation of FINRA Rule 2010.
During the period December 2017 through May 2018, Seymour effected at least 22
discretionary trades in 16 customer accounts. Although the customers knew that Seymour
was exercising discretion in their accounts, Seymour did not have prior written
authorization to do so from any of the customers. Additionally, Cadaret Grant had not
approved any of the accounts for discretionary trading.
By virtue of the foregoing, Seymour violated NASD Rule 2510(b) and FINRA Rule
Penalty For The Terrible Crimes
a suspension from association with any FINRA member firm in any and all capacities for a period of 10 business days; and a $5,000 fine.
Respondent agrees to pay the monetary sanction upon notice that this AWC has been
accepted and that such payment is due and payable. Respondent has submitted an
Election of Payment form showing the method by which he proposes to pay the fine
Respondent specifically and voluntarily waives any right to claim an inability to pay, now
or at any time hereafter, the monetary sanction imposed in this matter.
Respondent understands that if he is barred or suspended from associating with any
FINRA member, he becomes subject to a statutory disqualification as that term is defined
in Article III, Section 4 of FINRA’s By-Laws, incorporating Section 3(a)(39) of the
Securities Exchange Act of 1934. Accordingly, he may not be associated with any
FINRA member in any capacity, including clerical or ministerial functions, during the
period of the bar or suspension. See FINRA Rules 8310 and 8311.
Recent Illegal Activity(s)Of The Individual/Firm
On at least three days between December 2017 and May 2018, Seymour exercised
discretion without written authorization in 16 customer accounts, in violation of NASD
Rule 2510(b) and FINRA Rule 2010.
How To Spot A Fraud Finance Advisor (Infographic)
Help For Victims Of Paul F. Seymour
If you have lost funds because of misrepresentation, unsuitable investment, or unsuitable investment strategy from Paul F. Seymour. Then you can take legal action and get justice. Fraud, Malpractice & dereliction of duty should not be taken lightly, especially in this industry. We highly suggest that you notify authorities or seek legal action if your financial advisor or brokerage firm fails to abide by FINRA’s rules are regulations.
Financial advisors are regulatory & legally obligated to suggest (recommend) the most suitable investments/investment strategies to their clients. Their suggestions should have their client’s best interests and should be appropriate for their client’s goals and needs. Similarly, the brokerage firm which hires financial advisors also has a regulatory & legal obligation to keep a close watch and supervise their Financial Advisors’ practices & behavior. They need to make sure that the financial advisor is not being manipulative or having an unreasonable bias towards certain investments. If the financial advisor and/or the brokerage firm breaches these duties, then the client/customer may be entitled to a full or partial recovery of their losses.
Financial advisors need to have the interest of their clients when giving suggestions related to investments and investment strategies. Reasonable basis suitability requires the advisor to do their best to analyze & identify the risks and rewards associated with their suggested investment and/or investment strategy.This review has been syndicated from Gripeo To read the full review, go to – www.gripeo.com/paul-f-seymour/