Paul Koch: Complaint Against RBC Rep Settled for $3.75MM

Wayzata, Minnesota broker and investment adviser Paul Koch (CRD# 1777599) has received an investor complaint that recently settled for a sum exceeding $3 million. According to records provided by the Financial Industry Regulatory Authority (FINRA), Koch is currently registered with RBC Capital Markets.

According to Paul Koch’s FINRA-maintained BrokerCheck report, a complaint filed in 2019 alleged that as a representative of UBS Financial Services, Paul Koch recommended risky, unsuitable investments in “various outside business ventures where his wife was a partial owner,” including “janitorial businesses, second hand clothing stores, hair cut establishments, housing developments and venture capital enterprises.” The complaint went on to allege that he and his wife diverted funds from those investments for their personal use, and that he breached his fiduciary duties, committed theft, converted funds, and misappropriated funds. In 2020 the complaint reached a settlement of $3.75 million. (A “Broker Statement” on the disclosure reads in part: “UBS has settled with the claimants who dismissed their claims against UBS and assigned their claims with the advisor.)

According to Financial Industry Regulatory Authority records, Paul Koch has been registered with RBC Capital Markets in Wayzata, Minnesota as a broker and an investment adviser since 2018. His prior registrations include UBS Financial Services in Wayzata, Minnesota; Citigroup Global Markets in Wayzata, Minnesota; Miller Johnson Steichen Kinnard in Minneapolis, Minnesota; John G. Kinnard & Company in Minneapolis, Minnesota; Prudential Securities in New York, New York; Piper Jaffray in Minneapolis, Minnesota; and Connecticut Mutual Financial Services. He has passed six securities industry qualifying examinations: the Uniform Investment Adviser Law Examination, or Series 65; the Uniform Securities Agent State Law Examination, or Series 63; the Securities Industry Essentials Examination, or SIE; Futures Managed Funds Examination, or Series 31; the Investment Company Products/Variable Contracts Representative Examination , or Series 6; and the General Securities Representative Examination, or Series 7. He currently holds 22 state securities licenses. His self-regulatory organization registrations include: BOX Exchange LLC, Cboe Exchange, Inc., FINRA, Investors’ Exchange LLC, Long-Term Stock Exchange, Inc., the Nasdaq Stock Market, and the New York Stock Exchange. (Information current as of July 13, 2021.)