Publicly available records provided by the Financial Industry Regulatory Authority (FINRA) indicate that broker, Matthew Angelo Siliato (CRD # 5062153) was recently barred from the securities industry by FINRA’s Department of Enforcement after refusing to cooperate in an investigation into excessive trading (churning) and unauthorized trading in customer accounts.
The Law Office of Kevin J. Deloatch, Esq. is interested in speaking to investors who have complaints regarding Mr. Siliato.
Registration Background for Matthew Siliato
Mr. Siliato first became registered in the securities industry in 2006. He was most recently registered with Bronx, NY based Wynston Hill Capital, LLC (CRD # 103811) from December 2018 to June 2019. His prior registrations include Spartan Capital Securities, LLC (CRD # 146251) from January 2017 to November 2018, and Windsor Street Capital, LP (CRD # 34171) from March 2013 to January 2017.
FINRA’s Allegations Against Matthew Siliato
According to FINRA Letter of Acceptance, Waiver and Consent (AWC) dated April 22, 2021, Mr. Siliato consented to, without either admitting to or denying, the following findings by FINRA’s Department of Enforcement:
- “On February 25, March 11, and March 29, 2021, in connection with its investigation into potentially unauthorized and excessive trading by [Mr.] Siliato, FINRA sent requests to [Mr.] Siliato for on-the-record testimony pursuant to FINRA Rule 8210”
- “As stated during his telephone call with FINRA on April 9, 2021, and by this agreement, [Mr.] Siliato acknowledges that he received FINRA’s requests and will not appear for on-the-record testimony at any time”; and
- By virtue of his actions, Mr. Siliato violated FINRA Rule 8210, regarding cooperating in FINRA investigations and FINRA Rule 2010, regarding standards of commercial honor and principles of trade.
FINRA Bars Matthew Siliato from Securities Industry
As a result of such violations and in addition to the above described findings and conclusions, FINRA’s April 22, 2021 AWC also indicates that Mr. Siliato consented to the following sanction(s):
- A bar from association with any FINRA member in all capacities.
Matthew Siliato Has A History of Securities Industry Customer Complaints
In addition to Matthew Siliato being barred by FINRA from the securities industry regarding churning and unauthorized trading, FINRA BrokerCheck for Mr. Siliato reveals that he has a history of customer complaints and/or customer initiated arbitrations, including but not necessarily limited to the following:
- On May 24, 2016, a customer-initiated arbitration was filed naming Mr. Siliato as a respondent, regarding alleged actions that occurred while he was associated with Meyers Associates LP. The customer alleged suitability and resultant damages in the amount of $250,627.60. On June 11, 2018, the arbitration was settled in the amount of $14,999.99.
- On December 28, 2015, a customer-initiated arbitration was filed naming Mr. Siliato as a respondent, regarding alleged actions that occurred while he was associated with National Securities Corp. The customer alleged suitability and breach of fiduciary duty. The customer further damages in the amount of $522,941.60. On March 2, 2018, the arbitration was settled with Mr. Siliato responsible for paying $200,00.00.
- On April 8, 2014, a customer-initiated arbitration was filed naming Mr. Siliato as a respondent, regarding alleged actions that occurred while he was associated with Meyers Associates LP. The customer alleged failure to follow instructions and resultant damages in the amount of $75,000.00. On March 17, 2015, the arbitration was settled in the amount of $14,999.99.
If you or someone you know has or had a brokerage account with Matthew Angelo Siliato and have concerns regarding losses in your investments or possible sales practice violations including fraud, you may be entitled to recover lost funds. The Law Office of Kevin J. Deloatch, Esq. has an extensive securities law practice and over 30 years of experience on Wall Street. Call today at (646) 792-2156 for a free consultation. The time to file your claim may be limited so you should call today to avoid delay.