Paul Falcon Allegedly Breaches His Fiduciary Duty

The law firm of Oakes & Fosher is presently investigating the alleged misconduct of securities broker Paul Falcon. According to his publicly available FINRA BrokerCheck report, Paul Falcon has been the subject of multiple customer disputes over the course of his career.

Paul Falcon is a Florida based securities broker. He has worked in the securities industry for twenty-three years. During his career, he has been registered with eleven different securities firms.

His Registrations

• The Equitable Life Assurance Society of the United States (1994)


• Equico Securities (1994)


• GKN Securities Corp. (1994-1995)


• Waterhouse Securities, Inc. (1995-1996)


• Citicorp Investment Services (1996-1999)


• First Union Brokerage Services (2000)


• Wachovia Securities (2000-2006)


• Allstate Financial Services (2008-2009)


• Statetrust Investments Inc. (2009-2011)


• Global Strategic Investments (2011-2013)


• Aegis Capital Corp. (2013-Present)

The Allegations

• In April 2017, a customer alleged that Paul Falcon recommended unsuitable investments, executed unauthorized trades, and excessively traded their account. This case was settled for $210,000 in damages.


• In December 2018, a customer alleged that Paul Falcon managed their account negligently, breached his fiduciary duty, and breached contract. This case is currently pending. The customer is seeking $1 million in damages.

What Does This Mean?

Securities brokers have an obligation to their customers to always act in their best financial interests. This obligation is also known as the broker's duty as a fiduciary. This fiduciary duty compels brokers to always make sure that they are not making decisions solely beneficial to themselves while financially harming the customer. Brokers who breach this duty break the trust between them and the customer. This professional relationship between the two cannot exist without that trust.

Oakes & Fosher Can Help

Many investors are unaware of the legal recourse available to them after losing money due to securities broker fraud and/or negligence. The truth is that investors who have lost money in this fashion may actually be entitled to damages.

Oakes & Fosher dedicates its entire legal practice to helping investors across the nation. If you, or someone you know, have lost money investing with Paul Falcon, please contact Oakes & Fosher for a free and private consultation. Oakes & Fosher handles cases on a contingency basis, which means there are no fees charged unless we collect for you.