Last Updated: February 2025, Palm Bay, FL
Here’s what you need to know about Palm Bay, FL, former stockbroker Paul Edwards:
- Name: Mr. Paul Edwards
- CRD Number: 5967107
- Current Status: Suspended from acting as a broker by FINRA
- Prior Employers:
- NYLife Securities LLC (August 2012 – June 2023)
- Edward Jones (September 2011 – April 2012)
- Function: Stockbroker / Financial Advisor
- DBA: Possibility Plus Financial Services (link to YouTube video)
- Primary Location: Palm Bay, FL
- Can Paul Edwards be sued in FINRA arbitration? Yes
- Sanctioned by FINRA: Yes
- Employment Separation after Allegations: Yes
- Highest Settlement or Award: $615,648
If you’ve sustained damages from Mr. Edwards, discuss your case with experienced investment fraud lawyer Bob Rex at (877) 224-3199 for a free consultation.
Did You Lose Money With Paul Edwards As Your Stockbroker?
On December 9, 2024, FINRA initiated a regulatory action (Docket #2022076567401) against Paul Edwards. FINRA alleged that Mr. Edwards forged the signatures of two customers on insurance documents and falsified seven documents by altering them after they were signed by six different customers. He also requested customers to sign blank forms that he later completed and submitted to his firm.
The regulatory action resulted in a two-month suspension (December 16, 2024 – February 15, 2025) and a $5,000 civil penalty.
In 8/2017 a customer dispute settled for $615,648. The customers alleged that two fixed annuities purchased in December 2016, one of which was funded from a securities account, were not in the customers’ best interest.
In 9/2022 a customer of NY Life alleged that an application for insurance was signed without her knowledge or consent. At this time it appears that the customer has not pursued the matter further in FINRA arbitration or court.
Paul Edwards was “permitted to resign” from NYLife in 5/2023. According to NY Life “the company’s review of his business practices raised concerns regarding the quality of his business”.
Investigations involving Theft and Misappropriation of Customer Funds
Investigations involving forgery by financial advisors
Allegations of Broker Misconduct Against Paul Edwards
Customers and regulators have alleged the following misconduct in connection with Paul Edwards’s handling of investments:
- Forgery and Document Falsification: Mr. Edwards forged the signatures of two customers on insurance documents and altered seven documents after they were signed, violating FINRA Rule 2010, which requires brokers to act with high standards of commercial honor.
- Improper Use of Blank Customer Forms: He requested customers to sign blank forms, which he later completed and submitted to his firm without their review—a serious breach of industry standards.
The Financial Industry Regulatory Authority (FINRA) mandates disclosure of customer complaints, regulatory sanctions, and other disciplinary actions to protect investors.
Recover Your Investment Losses Now With Rex Securities Law
Investigations of other NY Life Financial Advisors
If you have suffered investment losses in an account handled by Paul Edwards, contact us for a complimentary consultation with an experienced securities lawyer to learn how you may be able to recover damages through FINRA arbitration.
With offices in Boca Raton, FL, and Austin, TX, stockbroker fraud attorney Bob Rex provides representation to investors nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers, financial advisors, and broker-dealers.
If you have questions about how your account has been handled, call (877) 224-3199 to speak with an experienced securities attorney at no cost to you.
Most cases are handled on a contingent fee basis, meaning that you do not pay legal fees unless we are successful.