Securities Lawyers Blog
Investment attorneys with our offices are currently investigating previously registered broker Matthew Singer (Singer). According to BrokerCheck Records, in March 2018, Singer was barred from the financial industry for failing to appear at an on-the-record testimony concerning allegations that he was recommending unsuitable investments to customers while employed at Morgan Stanley. According to the Financial Industry Regulatory Authority (FINRA), Singer consented to the sanction and bar due to the fact that he refused to appear to the testimony. For failing to appear for testimony, Singer was in violation of FINRA Rules 8210 and 2010 and automatically barred.
In addition, Singer has been subject to multiple customer complaints. In December 2016, a customer alleged that from May 2015, to January 2016, Singer misrepresented investments and executed unauthorized trades in the customer account regarding option investments. The case was settled at $60,000.
In February 2016, a customer alleged that Singer recommended unsuitable options to the customer. The customer requested $381,929 in damages. In October 2015, a customer alleged that from June 2015, Singer recommended highly risky and unsuitable investments to the customer.