Paul Soll: Los Angeles Financial Advisor Barred by FINRA
A disciplinary action taken by the Financial Industry Regulatory Authority against former Los Angeles, California broker Paul Soll (CRD# 430284) barred him after finding he refused to provide testimony during its investigation of possible trading abuses. A former representative of Financial West Group, Soll was barred from acting as a broker or otherwise associating with a broker-dealer firm.
According to a Letter of Acceptance, Waiver and Consent (No. 2017054755202) dated July 2018, FINRA initiated an investigation in December 2017 into Paul Soll’s “trading activities” while a representative of Financial West Group, including “possible excessive trading, churning, and unsuitable recommendations of penny stocks” between January 2013 and December 2015. FINRA staff sent him a request on May 30, 2018 to provide on-the-record testimony to FINRA on June 26 and 27, 2018. The following month, on June 20, 2018, Soll indicated through counsel that he was in receipt of FINRA’s request but would not appear for testimony to FINRA “at any time.” FINRA found this refusal to constitute a violation of FINRA Rules 8210 and 2010. As a result of the foregoing alleged conduct, he was barred from associating with any FINRA member firm in any capacity.
Paul Soll’s disclosure records also list one customer complaint against him. Filed at an unspecified date, the complaint alleged that as a representative of Oppenheimer & Company, Paul Soll breached contract, breached his fiduciary duty, and made misrepresentations connected to the sale of US Treasury bonds “on a leveraged basis.” The complaint reached a settlement of $660,574.
Paul Soll is currently not registered as a broker or investment advisor. His employment history includes Western International Securities in Los Angeles, California; Financial West Group in Los Angeles, California; SRM Securities in Los Angeles, California; Oppenheimer & Company; Cantor Fitzgerald; and Newburger Loeb & Company. He currently holds zero state licenses and has passed six securities industry qualification examinations.