John Nicholas Matson Formerly of LPL Financial

John N Matson, a former financial advisor, was associated with LPL Financial LLC of Manhattan Beach, California, from 2007 to 2015 and 2017 to 2022. Prior to returning to LPL FINANCIAL LLC, he was affiliated with Ameriprise Financial Services, Inc. of Los Angeles, California from 2015 to 2017, according to FINRA's BrokerCheck.

His professional records include regulatory actions by FINRA in 2022 and SEC in 2024, as well as customer disputes related to his advisory activities. Below is the summary of these cases:

FINRA Barred John Nicholas Matson in 2022

In December 2022, John Nicholas Matson was prohibited from associating with any FINRA-member firms. This action was taken after he allegedly refused to provide the requested documents and information during an investigation into his recommending promissory notes to a customer.

The investigation was initiated after an 80-year-old customer registered a complaint, as per FINRA’s official report. The customer alleged issues with payment related to these notes. Matson’s alleged lack of cooperation with the FINRA inquiry led to the imposition of the indefinite bar.

SEC Civil Investigation into Matson’s Activities

In July 2024, the U.S. SEC opened a civil investigation involving John Matson and his company, South Bay Acquisitions LLC.

The SEC complaint alleged that Matson raised approximately $1.5 million from five investors by selling unregistered securities as "LLC Bonds," which promised returns of 12% to 20%. The SEC also alleged that investor funds were diverted for personal use, and some funds were used to pay returns to earlier investors.

Customer Complaints & Settlements History

Between 2010 and 2023, Matson was the subject of multiple customer complaints, according to FINRA BrokerCheck. The most notable complaints were filed in January and July 2023.

• January 2023: A complaint was filed in January 2023 by a customer seeking $610,000 in damages. It was resolved within 21 days with a settlement of $180,000.
• July 2023: As for the July complaint, the customer alleged that Matson sold her promissory note without contacting the firm. The amount requested in this complaint was $300,000, but it was settled at $180,000.

If you want to discuss John N Matson or any other securities-related issues, contact an experienced securities lawyer at Soreide Law Group for a free consultation: 888-760-6552.

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