Publicly available records provided by the Financial Industry Regulatory Authority (FINRA) on May 26, 2016 indicate that former California-based World Equity Group broker Paul Valencia has been sanctioned by FINRA. The securities and investment fraud law firm Fitapelli Kurta is interested in hearing from investors who have complaints regarding Mr. Valencia (CRD# 1074828).
Paul Valencia has spent 28 years in the securities industry and was most recently registered with World Equity Group in Temecula, California (2009-2015). Previous registrations include LPL Financial in Temecula, California; First Union Securities in St. Louis, Missouri; Bateman Eichler Hill Richards; EMR Enterprises; and Freeman Financial Services. He is currently not registered with any state or firm.
According to his BrokerCheck report, Paul Valencia has received two customer complaints and one regulatory sanction.
In April 2016, FINRA sanctioned Paul Valencia following allegations he exercised discretion in a customer account with obtaining prior written authorization from the customer or prior written approval from his member firm, World Equity Group. He was issued a 10-day suspension and a fine of $5,000.
In 2002, a customer alleged Paul Valencia, while employed at First Union Securities, executed unauthorized transactions. The complaint settled for $125,000.
In 1990, a customer alleged Paul Valencia, while employed at Bateman Eichler Hill Richards, executed unauthorized trades, breached his fiduciary duty, recommended unsuitable investments, committed fraud, and failed to supervise. The complaint settled in 1991 for $64,500.
If you have lost money investing with Paul Valencia, you may be entitled to recover lost funds. Call the securities and investment fraud law firm Fitapelli Kurta at 877-238-4175 for a free consultation. All cases are taken on contingency: Fitapelli Kurta only gets paid if and when you recover money. Time to file your claim may be limited, so we encourage you to avoid delay. Call 877-238-4175 now to speak to an attorney for free.