Paul Meyer: FINRA Suspends RBC Advisor over Discretionary Trades

Minnetonka, Minnesota financial advisor Paul Meyer (CRD# 3062534) was recently sanctioned and suspended in connection with alleged rule violations. Financial Industry Regulatory Authority records show that the RBC Capital Markets broker and investment advisor has also received several investor complaints.

A Letter of Acceptance, Waiver, and Consent (No. 2023078776201) describes FINRA’s disciplinary action against Mr. Meyer. Filed in December 2025, it alleges that he “exercised discretion without prior written authorization in connection with 334 trades in 45 accounts belonging to 32 customers without speaking to the customers on the day of the transactions.” While he did “generally discuss trading” with the clients in question, according to FINRA, the firm never designated their accounts as discretionary. FINRA found that his alleged behavior violated violated two industry rules: FINRA Rule 3260, which states that representatives may not “exercise discretionary power in a customer’s account unless the customer has given prior written authorization and the representative’s member firm has accepted the account as discretionary,” and FINRA Rule 2010, under which representatives must “observe high standards of commercial honor and just and equitable principles of trade in the conduct of their business.” As a result of these findings, FINRA issued Mr. Meyer a six-week suspension and a fine of $5,000.

Mr. Meyer’s BrokerCheck report discloses several investor complaints. The most recent, filed in 2022, alleges that as a representative of RBC Capital Markets, he failed to follow instructions in connection with the sale of stock investments. In 2023 the complaint reached a settlement of $72,500.

An earlier investor complaint, filed in 2022, alleged that as an RBC Capital Markets representative, he made unauthorized trades and “provided poor overall advice.” In 2023 the complaint reached a settlement of $20,040.42.

A third investor complaint, filed in 2022, alleged that as an RBC Capital Markets representative, he provided poor advice and made unauthorized trades. In 2023 the complaint reached a settlement of $100,000.

According to the Financial Industry Regulatory Authority, Paul Meyer holds 27 years of securities industry experience. Based in Minnetonka, Minnesota, he has been registered as a broker and an investment advisor with RBC Capital Markets since 2017. His past registrations include Morgan Stanley. His credentials include the passage of four securities industry qualifying exams: the Securities Industry Essentials Examination, or SIE; the Uniform Investment Adviser Law Examination, or Series 65; the Uniform Securities Agent State Law Examination, or Series 63; and the General Securities Representative Examination, or Series 7. He holds 20 state licenses. (Information current as of December 11, 2025.)

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