July 2021- Syracuse, NY
According to publicly available records, Paul Spero a broker with Cadaret, Grant & Co. discloses a regulatory event.
The Financial Industry Regulatory Authority (FINRA) is the agency that licenses and regulates stockbrokers and brokerage firms. FINRA requires brokers and brokerage firms to report customer complaints and disputes as well as regulatory sanctions. In addition brokers are required to disclose certain financial matters such as personal bankruptcies, judgments and liens.
In April 2021, after FINRA case #2019061646404 was filed, without admitting or denying the findings, Spero consented to the sanctions and to the entry of findings that although customers knew that he was exercising discretion in their accounts, he did so without prior written authorization from any of the customers and without his firm’s approval of any of the accounts for discretionary trading. Sanctions were a 15 day suspension from FINRA and a $5,000 fine that was to be paid by Spero individually.
Spero has been employed with Cadaret Grant & Co. since June of 1994.
If you have losses in an account handled by Paul Spero, call to learn how you may be able to recover damages through FINRA arbitration.
Rex Securities Law , with offices in Boca Raton, FL, and Austin, TX, provides representation to investors nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.
Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.
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