Paul McFeeley Allegedly Misrepresented Unsuitable Investment

Paul McFeeley (CRD #: 1478424), a broker registered with Hightower Securities, allegedly engaged in misrepresentation, according to his BrokerCheck record, accessed on June 22, 2023. Investors may have also worked with him through Hightower Advisors. If you have questions about his alleged conduct as a broker, read on.

Investor Dispute

On April 21, 2023, an investor alleged that Paul McFeeley misrepresented an unsuitable investment purchased in July 2018. This dispute was denied by the firm.

However, investors should be aware that firms can deny disputes without an external review. Investors may be able to recover their losses by seeking out FINRA arbitration after a denial.

FINRA Rule 2020

FINRA Rule 2020 bans the use of deceptive, manipulative, and otherwise fraudulent tactics to influence the purchase and sale of securities. Misrepresenting an investment’s potential returns, fees, risks, or other relevant information violates this rule.

FINRA Rule 2111

FINRA Rule 2111 requires brokers to evaluate whether an investment fits their investor’s financial goals. Brokers must use the information in an investor’s profile, such as their tax status, age, and risk tolerance when making recommendations.

Investors who rely on their broker for recommendations may be able to recoup their losses through FINRA arbitration.

State Regulatory Actions

On March 30, 2017, the New York State Department of Financial Services alleged that Paul McFeeley failed to notify the Department of Insurance of a final disposition of an administrative action within the required 30 days. Paul McFeeley was fined $500.

On March 3, 2016, the Florida Office of Financial Regulation alleged that Paul McFeeley engaged in investment advisory business in the state without proper registration. His firm, Oppenheimer & Company, consented to a fine of $17,500, and the state approved Paul McFeeley’s application as an investment adviser.

Background Information

Paul McFeeley has passed the following exams:

• Series 65 – Uniform Investment Adviser Law Examination
• Series 63 – Uniform Securities Agent State Law Examination
• Series 99TO – Operations Professional Examination
• SIE – Securities Industry Essentials Examination
• Series 31 – Futures Managed Funds Examination
• Series 3 – National Commodity Futures Examination
• Series 7 – General Securities Representative Examination
• Series 10 – General Securities Sales Supervisor – General Module Examination
• Series 9 – General Securities Sales Supervisor – Options Module Examination

Paul McFeeley is a registered broker in Connecticut, Florida, New Jersey, New York, and Virginia. He is also a registered investment adviser in Florida.

He has also worked for the following firms:

• Oppenheimer & Company (CRD#:249)
• Citigroup Global Markets (CRD#:7059)
• Merrill Lynch, Pierce, Fenner & Smith (CRD#:7691)
• Lehman Brothers (CRD#:7506)
• R. Seelaus & Company (CRD#:14974)
• Stoever, Glass & Company. (CRD#:7031)

Kurta Law Can Help

If you worked with Paul McFeeley and you have concerns about your investments, please contact us today at 877-600-0098 or info@kurtalawfirm.com for a free consultation.

For over 20 years, Kurta Law has advocated on behalf of investors who want to recover their investment losses from brokers and brokerage firms. Kurta Law is a nationally recognized law firm and exclusively represents investors against brokers and brokerage firms on a contingency basis. This means that the firm only earns a fee if our securities attorneys recover money on your behalf.