Publicly available records provided by the Financial Industry Regulatory Authority (FINRA) indicate that now former broker/investment adviser, Matthew Alexander Perry (Alex Perry) (CRD # 5985300) was recently barred from the securities industry by the FINRA Department of Enforcement after refusing to cooperate in an investigation into option trading in customer accounts.
The Law Office of Kevin J. Deloatch, Esq. is interested in speaking to investors who have complaints regarding Mr. Perry.
Registration Background for Matthew Perry
Mr. Perry first became registered in the securities industry in 2011. He was most recently registered with Colombia, MO based Stifel, Nicolous & Company, Incorporated (CRD # 793). His previous registration includes but is not necessarily limited to Wells Fargo Advisors, LLC (CRD # 19616) from November 2011 to June 2016.
FINRA’s Allegations Against Matthew Perry
According to FINRA Letter of Acceptance, Waiver and Consent (AWC) dated June 28, 2021, Mr. Perry consented to, without either admitting to or denying, the following findings by FINRA’s Department of Enforcement:
- “In March 2019, [Mr.] Perry voluntarily terminated his association with Stifel and on March 22, 2019, Stifel filed a Uniform Termination Notice for Securities Industry Registration (Form U5) terminating [Mr.] Perry’s registration”;
- “On April 12, 2019, Stifel filed a Form U5 amendment disclosing a customer complaint alleging failure to follow the customer’s stated goals and failure to disclose risks associated with options trading”;
- “Thereafter, beginning on July 11, 2019, Stifel filed several U5 amendments disclosing additional customer complaints”;
- “FINRA began investigating this matter after receiving the April 12, 2019 Form U5 amendment described above”;
- “Although [Mr.] Perry initially cooperated with FINRA’s investigation by responding to FINRA’s June 19, 2019 and March 8, 2021 Rule 8210 requests for documents and information, he ceased doing so in May and June 2021”; and
- By virtue of his actions, Mr. Perry violated FINRA Rule 8210 regarding cooperating with FINRA investigations and FINRA Rule 2010 regarding standards of commercial honor and principles of trade.
FINRA Sanctions Matthew Perry
As a result of such violations and in addition to the above described findings and conclusions, FINRA’s June 28, 2021 AWC also indicates that Mr. Perry consented to the following sanction(s):
- A bar from association with any FINRA member in all capacities.
Matthew Perry Has A History of Securities Industry Customer Complaints
In addition to Matthew Perry being barred from the securities industry by FINRA after refusing to cooperate in an investigation into options trading in customer accounts, FINRA BrokerCheck for Mr. Perry reveals his history of customer complaints and/or customer initiated arbitrations, includes but is not necessarily limited to the following:
- On March 27, 2020, a customer initiated a written complaint against Mr. Perry regarding alleged actions that occurred while he was associated with Stifel, Nicolous & Company, Incorporated. The customer alleged Mr. Perry made unauthorized and unsuitable trades in their account(s). The customer further alleged damages in the amount of $77,000.00. On September 10, 2020 the complaint was settled in the amount of $45,000.00.
- On December 23, 2019, a customer initiated a written complaint against Mr. Perry regarding alleged actions that occurred while he was associated with Stifel, Nicolous & Company, Incorporated. The customer alleged Mr. Perry made unauthorized trades in their account(s). The customer further alleged damages in the amount of $50,000.00. On May 22, 2020 the complaint was settled in the amount of $10,000.00.
- On April 8, 2019, a customer initiated a written complaint against Mr. Perry regarding alleged actions that occurred while he was associated with Stifel, Nicolous & Company, Incorporated. The customer alleged Mr. Perry did not follow their stated goals and did not disclose risks associated with options trading. The customer did not allege a specific dollar amount of damages. However, on May 9, 2019 the complaint was settled in the amount of $138,000.00.
If you or someone you know has or had a brokerage account in which Matthew Alexander Perry (Alex Perry) was the broker and have concerns regarding losses in your investments or possible sales practice violations, including fraud, churning or unsuitability, 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.
