FINRA suspends Paul Kreindler (CRD #275334, New York, New York)
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As reported in InvestmentNews, three Raymond James entities have agreed to pay over $15 million to resolve an investigation by the SEC. The settlement and SEC order focused on Raymond James’s actions in improperly charging certain clients advisory fees when the...read more
March 23, 2018 – A Letter of Acceptance, Waiver and Consent (AWC) was issued in which Kreindler was assessed a deferred fine of $15,000 and suspended from association with any FINRA member in all capacities for two months. Without admitting or denying the findings, Kreindler consented to the sanctions and to the entry of findings that he provided FINRA with documents that were falsely backdated with dates he claimed to have conducted certain supervisory tests. The findings stated that FINRA requested that Kreindler’s member firm produce evidence that it conducted independent testing of its anti-money laundering compliance program for, among other years, 2013 and 2014. In response, Kreindler, as the firm’s anti-money laundering compliance officer, produced two reports to FINRA. However, although Kreindler conducted the testing in 2013 and 2014, he did not create the documents until 2017. He falsely backdated the documents so that it would appear that they had been created contemporaneously with the testing. The findings also stated that Kreindler failed to obtain independent testing of the firm’s AMLCP. The suspension is in effect from April 2, 2018, through June 1, 2018. (FINRA Case #2017052478201). If you or someone you know has lost money investing with Paul Kreindler, call the experienced attorneys at Epperson & Greenidge at 877-445-9261 for a free consultation. You may be eligible to recoup your losses. Epperson & Greenidge accepts all cases on a contingency basis: we only get paid if and when you collect money. Time to file your claim may be limited, so we encourage you to avoid delay. Call 877-445-9261 now to speak to an attorney for free.