Paul Posillico, Aegis Financial Corp., Investigation

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Paul Posillico, a New York stock broker, is no longer licensed.

After ten years in the securities industry, Paul Posillico has been permanently barred from acting as a broker or otherwise associating with firms that sell securities to the public. Although his barring occurred in June of 2015, Posillico was in hot water with FINRA for years before, including five complaints against him and two regulatory disputes.

His employment history includes most recently working as a broker for Aegis Capital Corporation in Melville, New York, from February 2013 to October 2014. He was also employed at Obsidian Financial Group from April 2008 to April 2013, a firm that was expelled by FINRA in October 2013.
Two other firms that Posillico worked at were also expelled: Charles Vista, LLC and Westrock Advisors, both in New York.

Among the disputes against him, Posillico is charged with unauthorized trading, unsuitable recommendations, churning, negligence, breach of fiduciary duty, fraud and failure to supervise.

Those who have used Paul Posillico as a financial advisor are encouraged to learn more about the actions against him by viewing his BrokerCheck report provided by FINRA. This is a complimentary report that provides detailed information about all of the disputes and regulatory actions that have been made.

If you are working with or have worked with a financial advisor that you suspect may have been involved in unethical behavior, or have lost money at the hands of a trusted advisor, it is recommended that you seek the services of an experienced securities attorney.

The attorneys at Silver Law Group are leaders in the field of FINRA and securities arbitration. We represent individual and institutional investors across the United States that have lost money at the hands of a trusted financial advisor. Our services are provided on a contingency-fee basis, which means we are only compensated if there is a recovery of losses. For more information, contact us for a complimentary consultation.