FINRA Suspends Justin Pagel, Feltl & Co. Broker for Misconduct Allegations
According to public records on January 16th, 2025, The Financial Industry Regulatory Authority (FINRA) has reportedly suspended Justin Pagel (CRD# 2554168) from working as a broker for ten months. Pagel is reportedly not currently registered as a broker.
Pagel was reportedly registered with FINRA through Feltl & Company, in Plymouth, MN, as a General Securities Representative from August 2011 to May 2024. According to the Uniform Termination Notice of Securities Industry Registration (Form U5) filed by Feltl & Company, the firm reportedly discharged Pagel on May 2, 2024 for failing to follow firm policies.
Unsuitable, Short Term Trading
According to FINRA, between January 2014 and August 2023, Pagel allegedly recommended that four customers invest all or a significant portion of their assets at the firm in speculative, high-risk stocks, or engage in short-term trading, that was not in the customers’ best interest or was unsuitable.
FINRA found that Pagel allegedly willfully violated Rule 15l-1(a)(1) of the Securities Exchange Act of 1934 (Regulation BI) for activity on or after June 30, 2020 and reportedly violated FINRA Rule 2111 for activity prior to June 30, 2020 and FINRA Rule 2010.
In addition, from July 2019 through December 2023, Pagel purportedly exercised discretion when effecting 360 trades in 47 customer accounts without obtaining written authorization from the customers and from his member firm to treat the accounts as discretionary, in violation of FINRA Rules 3260(b) and 2010.
Also, from April 2013 to January 2022, Pagel allegedly mismarked 587 solicited trades as unsolicited in over 50 customer accounts, including the 47 customer accounts in which he exercised discretion without authorization, in violation of FINRA Rules 4511 and 2010.
Pagel reportedly submitted a statement of financial condition and demonstrated an inability to pay a monetary fine and no monetary sanctions have been imposed.
Justin Pagel – FINRA Broker Check
The FINRA BrokerCheck tool is a free online tool that allows investors to research and verify the background and credentials of financial brokers, brokerage firms, and investment advisors registered with FINRA.
According to his broker report, Justin Pagel was reportedly registered with four firms prior to his employment with Feltl and Company. His broker report indicates he has 5 customer complaints on his record. Allegations include unsuitable investments, misrepresentation, negligent financial management and breach of fiduciary duty, among others.
FINRA Rule 2010
FINRA Rule 2010 Standards of Commercial Honor and Principles of Trade- says that broker-dealers must operate with the highest standards of commercial honor in their dealings with investors.
Firms that fail to supervise their advisors, can be held responsible for investment losses in a Financial Industry Regulatory Authority (FINRA) arbitration claim.
Free Consultation
If you have suffered investment losses with Justin Pagel, the securities attorneys at the White Law Group may be able to help you by filing a FINRA Dispute Resolution claim. Please call (888) 637-5510 for a free consultation.
National Securities Attorneys
The White Law Group, LLC is a national law firm in securities fraud, securities arbitration, investor protection, and securities regulation and compliance. With offices in Chicago, Illinois and Seattle, Washington, the firm is dedicated to assisting investors across all 50 states with claims against their brokerage firms. Since its founding in 2010, The White Law Group has handled over 800 FINRA arbitration cases.
With more than 30 years of experience in securities law, The White Law Group has the knowledge and expertise to help investors recover losses resulting from securities fraud.
Last modified: January 18, 2025
