| Read Time: 2 minutes | Broker Misconduct |

Stefan Pastor, a former registered representative with Raymond James Financial Services, Inc. (Raymond James) has been permanently barred by the Financial Industry Regulatory Authority (FINRA) based upon its findings that he gave false information to FINRA during on-the-record (OTR) testimony regarding allegations that he engaged in unauthorized trading.

According to FINRA, Stefan Anton Pastor, of Fort Lauderdale, Florida, provided false information in his OTR testimony to FINRA during an investigation into a customer complaint alleging unauthorized trading.  Mr. Pastor falsely claimed that the customer had authorized the trades, and to support his claim, he allegedly provided the customer with sale confirmations, which the firm determined were not authentic. FINRA found that the customer never authorized the trades and that Mr. Pastor did, in fact, provide false trade confirmations to try to prove that he had reversed the unauthorized trades.

Without admitting or denying FINRA’s findings, Stefan Anton Pastor was permanently barred from association with any FINRA member in any capacity.

Stockbrokers, registered representatives, and other financial industry professionals have been known to engage in many types of fraudulent and unlawful behavior, such as unauthorized trading, which violate industry rules and procedures.  In order to protect investors from such misconduct, FINRA rules require broker-dealers to establish and implement a reasonable supervisory system.  The implementation of the rules requires supervisors to monitor employees to ensure they comply with federal and state securities laws, securities industry rules and regulations, as well as the brokerage firm’s own policies and procedures.  If brokerage firms and their supervisors do not establish and implement these protective measures, they may be liable to account holders for losses flowing from the misconduct.  As a result, investors who have suffered losses stemming from stockbroker misconduct, such as unauthorized trading, can bring forth claims to recover damages against broker-dealers, like Raymond James, which have a duty to supervise its employees in order to prevent stockbroker misconduct.

Have you suffered losses in your Raymond James investment account due to your stockbroker’s unauthorized trades?  If so, call Robert Pearce at the Law Offices of Robert Wayne Pearce, P.A. for a free consultation.  Mr. Pearce is accepting clients with valid claims against Raymond James financial professionals for unauthorized trading and/or other stockbroker misconduct.

The most important of investors’ rights is the right to be informed!  This Investors’ Rights blog post is by the Law Offices of Robert Wayne Pearce, P.A., located in Boca Raton, Florida.  For over 40 years, Attorney Pearce has tried, arbitrated, and mediated hundreds of disputes involving complex securities, commodities, and investment law issues.  The lawyers at our law firm are devoted to protecting investors’ rights throughout the United States and internationally!  Please post a comment, call (800) 732-2889, send Mr. Pearce an email at pearce@rwpearce.com, and/or visit our website at www.secatty.com for answers to any of your questions about this blog post and/or any related matter.

Author Photo

Robert Wayne Pearce

Robert Wayne Pearce of The Law Offices of Robert Wayne Pearce, P.A. has been a trial attorney for more than 40 years and has helped recover over $125 million dollars for his clients. During that time, he developed a well-respected and highly accomplished legal career representing investors and brokers in disputes with one another and the government and industry regulators. To speak with Attorney Pearce, call (800) 732-2889 or Contact Us online for a FREE INITIAL CONSULTATION with Attorney Pearce about your case.

Rate this Post

1 Star2 Stars3 Stars4 Stars5 Stars