Did you lose money investing with Paul Furusho (CRD# 2165709)?
Galvin Legal, PLLC is launching an investigation on behalf of investors who may have suffered losses investing with Paul Furusho. If you suffered losses investing with Paul Furusho, then Galvin Legal, PLLC may be able to help you recover your losses in a Financial Industry Regulatory Authority (“FINRA“) arbitration claim.
If you suffered losses and would like a free consultation with a securities attorney, then please call Galvin Legal, PLLC at 1-800-405-5117.
As of January 29, 2023, Paul Furusho’s FINRA BrokerCheck Report contains the following:
BARRED: FINRA has barred this individual from acting as a broker or otherwise associating with a broker-dealer firm.
Disclosure Events
2 Regulatory Events
2 Employment Separation After Allegations
September 15, 2021 – An AWC was issued in which Furusho was barred from association with any FINRA member in all capacities. Without admitting or denying the findings, Furusho consented to the sanction and to the entry of findings that he failed to appear for on-the-record testimony requested by FINRA in connection with its investigation into him based on the allegations made in a Form U5 filed by his member firm. The findings stated that the Form U5 reported that Furusho had resigned from the firm upon being suspended by it while under internal review based on the firm’s discovery of his having either loaned money to a client or facilitated a loan from a client to a friend. The firm also reported that an undisclosed OBA was discovered. (FINRA Case #2020066177702)
Current and Previous Registrations
06/04/2015 – 03/30/2020 APW CAPITAL, INC. (CRD#:43814) San Francisco, CA
03/04/2010 – 06/05/2015 LPL FINANCIAL LLC (CRD#:6413) ROSS, CA
12/21/2007 – 02/08/2010 AMERITAS INVESTMENT CORP. (CRD#:14869) SAN FRANCISCO, CA
12/06/2004 – 12/31/2005 BROOKSTREET SECURITIES CORPORATION (CRD#:14667) SAN JUAN CAPISTRANO, CA
02/05/2003 – 10/15/2003 CITICORP INVESTMENT SERVICES (CRD#:23988) LONG ISLAND CITY, NY
01/31/1997 – 02/05/2003 CAL FED INVESTMENTS (CRD#:19631) SACRAMENTO, CA
07/16/1992 – 01/31/1997 INVEST FINANCIAL CORPORATION (CRD#:12984) APPLETON, WI
08/05/1991 – 12/11/1991 LEHMAN BROTHERS INC. (CRD#:7506) NEW YORK, NY
If you suffered losses and would like a free consultation with a securities attorney, then please call Galvin Legal, PLLC at 1-800-405-5117.
Due Diligence Requirement
FINRA requires broker’s to conduct due diligence on investments and to conduct a suitability analysis when recommending securities to a customer that takes into account the customer’s knowledge and experience. FINRA Rule 2111(a) states that “a member or an associated person must have a reasonable basis to believe that a recommended transaction or investment strategy involving a security or securities is suitable for the customer, based on the information obtained through the reasonable diligence of the member or associated person to ascertain the customer’s investment profile. A customer’s investment profile includes, but is not limited to, the customer’s age, other investments, financial situation and needs, tax status, investment objectives, investment experience, investment time horizon, liquidity needs, risk tolerance, and any other information the customer may disclose to the member or associated person in connection with such recommendation.”
Rule 2111 is composed of three main obligations: reasonable-basis suitability, customer-specific suitability, and quantitative suitability. Brokers and the brokerage firms they work for that fail to conduct adequate due diligence on investments they recommend or that make unsuitable recommendations can be held responsible for the customer’s losses in a FINRA arbitration claim.
If you suffered losses and would like a free consultation with a securities attorney, then please call Galvin Legal, PLLC at 1-800-405-5117.
Request a Free Consultation with a Securities Attorney
If you suffered losses investing with Paul Furusho and would like a free consultation with a securities attorney, then please call Galvin Legal, PLLC at 1-800-405-5117.
This information is all publicly available and is being provided to you by Galvin Legal, PLLC.
Galvin Legal, PLLC is a national securities arbitration, securities mediation, securities litigation, securities fraud, securities regulation and compliance, and investor protection law practice. For more information on Galvin Legal, PLLC and its representation of investors, please visit www.galvinlegal.com or call 1-800-405-5117.
