Ronald Fair Paull III (Ronald Paull) Suspended from Securities Industry and Fired by LPL Financial LLC – Goodman & Nekvasil P.A., May Recover Investor Losses
Goodman & Nekvasil P.A., May Recover Investor Losses - Ronald Fair Paull III (Ronald Paull) Suspended from Securities Industry and Fired by LPL Financial LLC
From 2012 until Ronald Paull’s firing in 2015, Ronald Paull was licensed with LPL Financial LLC. Ronald Paull is now licensed with Cambridge Investment Research, Inc. Ronald Paull was previously licensed with National Planning Corporation. According to FINRA’s records, Ronald Paull was fired by LPL Financial LLC on August 6, 2015. LPL Financial LLC reported to FINRA that Ronald Paull was accused of discretionary trading in variable annuity subaccounts, in violation of LPL Financial LLC policy.
Subsequent to Ronald Paull’s firing by LPL Financial LLC, FINRA investigated Ronald Paull and brought a disciplinary action against Ronald Paull. Ronald Paull consented to a $5,000 fine and a 10 day suspension from the securities and investment banking industry. Ronald Paull also consented to findings that Ronald Paull began contacting customers for whom Ronald Paull sold and serviced variable annuity accounts and obtained their verbal permission to discretionarily rebalance their variable annuity’s separate account on a quarterly basis for a period of one year. The findings stated that Ronald Paull’s customers had agreed to Ronald Paull’s request, though in each case, Ronald Paull failed to obtain written authorization from the customer and Ronald Paull’s member firm had not accepted the customers’ accounts as discretionary. According to FINRA, Ronald Paull exercised discretion when rebalancing variable annuity accounts for customers that had verbally consented to this arrangement. According to FINRA, the firm was unaware of Ronald Paull’s conduct until during an internal branch exam of Ronald Paull’s office, Ronald Paull voluntarily disclosed to the firm his practice of obtaining standing, verbal authorization to discretionarily rebalance customers’ variable annuity subaccounts. According to FINRA, after learning of Ronald Paull’s activity, the firm instructed him to stop placing discretionary trades and terminated Ronald Paull’s registration.
FINRA also reports that an arbitration claim involving Ronald Paull’s conduct with a prior employer was filed, alleging professional negligence, unsuitability, fraud, misrepresentation, failure to supervise, violation of Pennsylvania Securities Act, violation of Pennsylvania Unfair Trade Practices and Consumer Protection Law, breach of fiduciary duty, and/or breach of contract. This arbitration claim did not settle and proceeded to final hearing. The arbitrator found Ronald Paull liable and ordered an award of $10,000 in compensatory damages against Ronald Paull.
If you lost any money on investments with Ronald Paull you may be able to recover your losses from LPL Financial LLC, Cambridge Investment Research, Inc. and/or National Planning Corporation. This is because LPL Financial LLC, Cambridge Investment Research, Inc. and National Planning Corporation had a duty to supervise Ronald Paull.
If you lost money on investments with Ronald Paull and believe that the investments may have been unsuitable or otherwise improper for you, we would like to discuss the possibility of your retaining our firm to represent you in an arbitration action against LPL Financial LLC, Cambridge Investment Research, Inc. and/or National Planning Corporation concerning Ronald Paull’s conduct. There is no charge for an evaluation of your case. Further, we handle our cases on a contingency fee basis. This means that unless we recover money for you, we charge no attorney’s fee. Unless you recover any money, you pay us nothing, not even the costs and expenses which the firm will advance on your behalf.
Kalju Nekvasil, Esq, formerly regional counsel with the NASD, now known as FINRA, has practiced in this area of the law for more than 35 years. Goodman & Nekvasil, P.A. has recovered approximately $300 million on behalf of victimized investors. If you lost money on investments with Ronald Paull and would like your case evaluated by a securities attorney (again, there is no charge for an evaluation and all cases are handled on a purely contingency fee basis), please contact us.
Keywords: Ronald Fair Paull, Ronald Paull, SEC, LPL Financial, Cambridge Investment, National Planning Corporation, FINRA, Fraud, Attorney, Broker, Brokerage, Firm, Brokerage Firm, Invest, Lawyer, Securities Lawyer, Goodman and Nekvasil, Nekvasil, Goodman, Investor, Investment, Financial, Financial Services, SecuritiesBack to Blogs