Securities Lawyers Blog
The law offices of Gana Weinstein LLP are investigating broker Paul Mauro (Mauro), currently associated with SagePoint Financial, Inc. (SagePoint Financial) out of Westborough, Massachusetts. According to a BrokerCheck report, Mauro has been subject to at least nine customer disputes, two regulatory actions, and one criminal matter during the course of his career. According to records kept by The Financial Industry Regulatory Authority (FINRA), the customer complaints against Mauro concern allegations of unsuitable investment recommendations and misrepresentations.
In February 2018, as a result of Mauro’s disclosure incidents, the State of Massachusetts Securities Division placed conditions on Mauro’s registrations in Massachusetts and required him to be placed under heightened supervision by his brokerage firm.
In December 2018 a customer alleged that in 2017 Mauro unsuitably purchased variable annuity causing $6,630 in damages. The claim was denied.
In June 2017 a customer filed a complaint alleging that Mauro made unsuitable recommendations causing $86,000 in damages. The claim was denied.