Trimber was discharged by Wells Fargo on 2/21/2024 after “he admitted during review to making unauthorized transfers of client funds to recipients outside of the Firm.” No additional information is available from the firm.
FINRA began its investigation shortly after Wells Fargo submitted a Form U5 for Trimber on February 29, 2024, listing the reason as converting a senior client’s funds for his own personal use. FINRA staff then sent a letter to Trimber on March 12, 2024, requesting all associated documents and information by March 26, 2024.
Trimber’s legal counsel responded by email on March 14, 2024, acknowledging receipt of FINRA’s letter, but refuses to comply with FINRA’s request. FINRA proceeded with a Letter of Acceptance, Waiver & Consent (AWC), which Trimber signed on March 21, 2024. Following a signature by FINRA’s head of Department of Enforcement on March 22, Trimber’s permanent bar from association with FINRA members became effective immediately.
Unauthorized Transfers And Other Stockbroker Misconduct
Any time a broker, investment advisor, or other fiduciary mishandles a client’s funds, intentionally makes a bad recommendation, or otherwise misleads an investor, they engage in misconduct that can cause an investor financial losses. Churning is particularly insidious because an investor may not realize that they are being harmed.
FINRA has strict rules about broker misconduct. In some cases, the Securities & Exchange Commission (SEC) may also criminally charge a broker who engages in misconduct.
If you believe your broker may be engaging in misconduct, examine your accounts closely. If you see something you don’t understand, ask your broker to explain it to you. But if you still don’t understand something, or are simply not convinced, consider asking for help. Silver Law Group works with investors every day who have questions or suspect their broker is not completely helpful.
Did You Invest With Paul Trimber?
Silver Law Group represents investors in securities and investment fraud cases. Our lawyers are admitted to practice in New York and Florida and represent investors nationwide to help recover investment losses due to stockbroker misconduct. If you have any questions about how your account has been handled, call to speak with an experienced securities attorney. Most cases are handled on a contingent fee basis, meaning that you won’t owe us until we recover your money for you. Contact us today at (800) 975-4345 and let us know how we can help.