Paul Joseph Ryan

The panel found that this matter arose out of and was related to the investigation by the NYSE Division of Enforcement of Paul Joseph Ryan, a former registered representative at the firm, who was permanently barred, in a separate proceeding and on consent, for misappropriating funds from numerous customer accounts between 1995-1998 [see NYSE hearing panel decision 01-28].Among other things, Ryan caused branch checks to be issued to customers without their knowledge or authorization and thereafter forged the customers' signatures and deposited the checks into his personal bank account.

The NYSE imposed a penalty of a censure and $25,000 fine.First Albany consented to the penalty.

Individuals Disciplined for Sales-Practice Misconduct and Other Violations