(CRD #2963153, Madisonville, Louisiana)

April 6, 2026 – An AWC was issued in which Paul Dudlo Snow IV was assessed a deferred fine of $20,000 and suspended from association with any FINRA member in all capacities for six months. Without admitting or denying the findings, Snow consented to the sanctions and to the entry of findings that he negligently omitted material facts when converting fee-based advisory accounts into commission based brokerage accounts and executed trades in the brokerage accounts. The findings stated that 11 of Snow’s customers informed him that they wanted to liquidate their fee-based advisory accounts. Snow incorrectly believed that his member firm’s policies prohibited him from executing unsolicited sales in advisory accounts. However, Snow did not tell his customers that he was converting their accounts from advisory to brokerage to effect the transactions they requested, nor did he discuss with them the differences between these account types, including that transactions in brokerage accounts, unlike those in advisory accounts, would result in commission charges. Snow sold his customers’ positions shortly after he converted these accounts, and those sales generated $30,201.52 in commissions, which his customers would not have been charged had Snow executed the transactions in their advisory accounts. The firm ultimately identified Snow’s conversion of advisory accounts to brokerage accounts and the subsequent liquidations. The firm then reversed the transactions in the brokerage accounts, such that Snow’s customers did not pay any unnecessary sales charges, and he did not earn any commissions. The findings also stated that Snow exercised discretion without written authorization by selling his customers’ positions through trades he placed in their brokerage accounts, without first speaking to the customers on the trade dates. Although the customers understood that Snow would be placing trades on their behalf, he failed to obtain prior written authorization from the customers to exercise discretion in their brokerage accounts. The firm did not accept any of the accounts as discretionary. The suspension is in effect from April 20, 2026, through October 19, 2026. (FINRA Case #2024081924001) If you have suffered losses as a result of Paul Dudlo Snow IV's act and/or actions, we would like to hear from you. We are currently investigating claims on behalf of clients who have suffered significant losses in their portfolios that are managed by Paul Dudlo Snow IV. The Schwartz Law Firm represents investors in claims against financial advisors and their firms. If you have questions about your potential claim or need assistance from an investment fraud lawyer, please contact us at 866-330-6707 or email Matthew Schwartz directly at mschwartz@tslfirm.com.