Paul John-Pius Fahey Jr. (CRD #5154185) Has a Customer Dispute Disclosure on FINRA BrokerCheck

Paul John-Pius Fahey Jr. (CRD #5154185) is a broker with a customer dispute disclosure on FINRA BrokerCheck. We reviewed his BrokerCheck report on April 15, 2026. It reflects one pending customer dispute. If you invested with Paul Fahey and have concerns, keep reading.

BrokerCheck link: BrokerCheck

BrokerCheck report: BrokerCheck Report (PDF)

Investor Disputes / Customer Complaints

Paul Fahey’s FINRA BrokerCheck report reflects one customer dispute disclosure. A summary of the dispute is below:

On February 6, 2026, a customer dispute was reported as pending. Paul Fahey’s FINRA BrokerCheck report states a customer alleged wrongdoing in distributing municipal bonds in less than whole lots to three beneficiaries of a TOD account after the account holder died. The product listed was municipal bonds. The customer requested $21,390 in damages. The matter is pending in FINRA Dispute Resolution Services Arbitration under docket number 26-00099.

Rule Summary #1: FINRA Rule 2111 (Suitability)

FINRA Rule 2111 requires a broker to have a reasonable basis to believe a recommendation fits the customer’s investment profile. Disputes involving municipal bonds can raise questions about whether the recommendation matched the customer’s needs, goals, and liquidity concerns.

Rule Summary #2: FINRA Rule 2090 (Know Your Customer)

FINRA Rule 2090 requires firms to use reasonable diligence to know the essential facts about each customer and the authority of anyone acting on the customer’s behalf. In a dispute involving a TOD account and post-death bond distribution, that rule can matter when account instructions and beneficiary authority are at issue.

Why This Matters to Investors (Regulation Best Interest (Reg BI))

Regulation Best Interest (Reg BI) is a U.S. securities regulation. It strengthens the standard of conduct that broker-dealers owe to retail investors. It applies when they recommend securities transactions or investment strategies. The U.S. Securities and Exchange Commission adopted Reg BI. It became effective on June 30, 2020. Reg BI aims to protect investors while preserving access to brokerage products and services.

Reg BI requires broker-dealers and financial advisors to act in a retail customer’s best interest at the time of a recommendation. They must not place their own financial or other interests ahead of the customer’s. This standard is higher than the older “suitability” rule. Suitability meant a recommendation only had to be appropriate. It did not have to be the best option or free of conflicts.

Reg BI has four key obligations:

1. Disclosure Obligation – Broker-dealers must disclose material facts about the relationship and the recommendation. This includes fees, the scope of services, and conflicts of interest.

2. Care Obligation – Broker-dealers must use reasonable diligence, care, and skill. They must consider costs, risks, and alternatives when making a recommendation.

3. Conflict of Interest Obligation – Firms must identify conflicts of interest. They must disclose them and mitigate or eliminate them. This includes conflicts that create incentives to favor one product over another.

4. Compliance Obligation – Firms must maintain policies and procedures. Those policies should be designed to ensure compliance with Reg BI as a whole.

Reg BI applies to each recommendation. It is not a continuous duty like the fiduciary standard for registered investment advisers. Even so, it narrows the gap. It puts more focus on costs, conflicts, and investor-focused decision-making.

Overall, Regulation Best Interest promotes transparency. It also aims to improve the quality of investment recommendations. It is designed to reinforce trust between retail investors and broker-dealers in the U.S. securities markets.

Background Information (from BrokerCheck)

Based on his FINRA BrokerCheck report, Paul Fahey:

Is currently registered with RBC Capital Markets, LLC.

Has passed the Securities Industry Essentials (SIE) exam, Series 7, and Series 66.

Was previously registered with D.A. Davidson & Co.

Kurta Law Can Help

If you have worked with Paul Fahey and you have concerns about his activity, Kurta Law may be able to help you evaluate your legal options. To speak with Kurta Law, call 877-600-0098 or email info@kurtalawfirm.com.

Helpful resources: Unsuitable Investments | Securities Attorney

For nearly 20 years, Kurta Law has advocated for investors and helped hold financial professionals accountable. Our firm represents clients nationwide in securities arbitration and related disputes. If you believe a broker or firm mishandled your account, an attorney can review the facts and explain possible next steps.