The Financial Industry Regulatory Authority (“FINRA”) barred Matthew Alexander “Alex” Perry (CRD#: 5985300, Columbia, Maryland). This means that he cannot work as a FINRA-member securities broker or otherwise associate with a FINRA-member brokerage firm. This decision is the result of an investigation by FINRA into Perry’s activities including his involvement in a client complaint. Also, Stifel Nicolaus clients filed disputes about him. Here’s more on these disclosures.
On June 28, 2021, Alex Perry consented to a bar as securities broker to resolve FINRA’s allegations that he violated regulatory rules through not cooperating during an investigation.
Stifel Nicolaus Company, who employed Alex Perry as a securities broker from June 2016 to March 2019, learned that a client complained about him. Supposedly, Perry did not follow the client’s stated goals and did not inform them of the risks associated with options trading. Evidently, this matter settled to the tune of $138,000.
While Alex Perry initially cooperated with FINRA’s investigation into the matter, he eventually stopped doing so. Because of this, FINRA recommended that the penalty for Perry’s actions should be a bar on his ability to act as a broker. Although Perry did not admit to the accusations, he did consent to the sanction through signing an Acceptance, Waiver, and Consent.
Notably, the bar comes on the heels of Stifel Nicolaus client complaints against Alex Perry that settled through payments to clients. Perry’s bar from acting as a broker began on June 28, 2021, and its duration is indefinite. For this reason, Perry can no longer associate with any FINRA-member investment firm or brokerage firm.
Prior to FINRA barring Alex Perry, two separate clients brought disputes about him. Evidently, in March 2020, a client alleged that Perry made unsuitable trades in their account. In addition, Perry supposedly traded without permission. The client indicated that they lost money because of Perry’s actions. For this reason, Stifel Nicolaus opted to settle with this client through making a $45,000 payment.
Also, a client of Stifel Nicolaus disputed Alex Perry’s sales practices in December 2019. Notably, the client claimed that Perry made unauthorized stock trades from July 2018 to August 2018. For this reason, Stifel Nicolaus settled with the client by paying them $10,000 in May 2020.
Did Alex Perry cause you to experience investment losses or other damages? If so, call Soreide Law Group at (888) 760-6552 and speak with a skilled securities lawyer about a potential recovery of your losses. Soreide Law Group represents clients on a contingency fee basis and advances all costs. The firm has recovered significant compensation for investors in the US who incurred losses because of their financial advisors and securities brokers. Please note that Perry denies all allegations of his sales practice violations.
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