Paul Frank Mauceli Jr. Allegedly Engaged in Unsuitability, and a Pending Customer Complaint is Requesting $50,000
Paul Mauceli allegedly engaged in unsuitability and a pending complaint is requesting $50,000 in charges, according to FINRA Reports under review by investor rights attorney Alan Rosca.
Said complaint was filed on November 1, 2018, FINRA states.
Alan Rosca, of the Rosca Scarlato LLC law firm, is investigating activity related to Paul Mauceli’s alleged unsuitability. Investors who believe they may have lost money in activity related to Paul Mauceli’s alleged unsuitability are encouraged to contact attorney Alan Rosca with any useful information or for a free, no obligation discussion about their options.
Paul Frank Mauceli Jr. Has Worked for 25 Years at Reef Securities, Inc. in Richardson, Texas, and Has 8 Disclosures on His FINRA BrokerCheck Report
Paul Mauceli has worked in the securities industry for 25 years with Reef Securities, Inc. in Richardson, Texas, according to Mauceli’s FINRA BrokerCheck Report.
Mauceli has been registered with Reef Securities, Inc. since April 30, 1993, FINRA notes, and also has 8 disclosures on his FINRA BrokerCheck Report.
A final claim completed on April 11, 2018 reports that Mauceli, through his member firm, allegedly failed to timely notify investors of a right of rescission following the issuance of an updated general partners audited balance sheet and approval of a revised prospectus, FINRA states.
Said findings allegedly stated that the firm served as the broker dealer selling an oil and gas drilling and income fund limited partnership for an issuer, and the firm, acting through Mauceli and the issuer, allegedly decided not to send the revised prospectus and a notice offering each investor an opportunity to confirm or rescind his or her investment decision, despite the requirements of the prospectus, due to low prices in the oil and gas market, FINRA notes.
FINRA also allegedly discovered that the firm had not provided the revised prospectus and notice to the vast majority of the investors in the income fund, and the firm eventually allegedly sent the revised prospectus and notice to the remaining investors, whereupon several investors rescinded their investment.
Paul Mauceli, based on the alleged aforementioned behavior, was fined $5,000, and was suspended by FINRA, FINRA notes.
Finally, it is important to note that, as of the date of this article, there has not been a finding of liability as to the complaints or allegations mentioned in this article, unless otherwise indicated. Any reader should also read the original sources hyperlinked in this blog for accuracy, including any BrokerCheck report and/or record of any disciplinary or regulatory action. Those sources are incorporated by reference into the text of this blog, and are the governing materials in case of any inconsistencies or typos in this blog.
Securities Lawyer Investigating
The Rosca Scarlato LLC law firm represents investors who lose money as a result of investment-related fraud or misconduct and are currently investigating Paul Mauceli’s alleged unsuitability. The firm takes most cases of this type on a contingency fee basis and advance the case costs, and only gets paid for their fees and costs out of money recovered for clients. Attorney Alan Rosca, a securities lawyer and adjunct professor of securities regulation, and has represented thousands of victimized investors across the country and around the world in cases ranging from arbitrations to class actions.
Investors who believe they lost money as a result of Paul Mauceli’s alleged unsuitability may contact attorney Alan Rosca for a free no-obligation evaluation of their recovery options, at 888-998-0530, via email at arosca@rscounsel.law, or through the contact form on this webpage.
