Financial Industry Regulatory Authority (FINRA) BrokerCheck reveals disclosures about securities broker Matthew Jason Childs (also known as Matt Childs) [CRD#: 3110916, San Francisco, California]. Childs worked for Portsmouth Financial Services from February 2016 to December 2024. Recent disclosures reveal concerns about Childs’ conduct, including allegations of unsuitable recommendations and regulatory sanctions.
On August 13, 2024, FINRA initiated a case (Docket/Case Number: 2019063931601) against Matthew Childs concerning his recommendations of non-traditional exchange-traded products (NT-ETPs). Without admitting or denying the findings, Childs consented to sanctions and a suspension. The findings state that Childs recommended these products to nine clients in ten accounts without adequately understanding their risks and features. The clients held daily reset NT-ETP positions for periods ranging from 8 to 1,034 days, resulting in total net realized losses of $31,667.02. FINRA imposed a suspension effective from September 3, 2024, to November 2, 2024. Due to Childs' financial status, no monetary sanctions were imposed.
On February 27, 2023, a FINRA arbitration claim (Case No. 23-00405) was filed against Portsmouth Financial Services, implicating Matthew Childs in unsuitable recommendations of high-risk, illiquid alternative investments, specifically GWG Holdings L Bonds. The client alleged misrepresentation and failure to conduct due diligence. Although Childs was not named as a respondent and did not contribute to the settlement, the firm settled the matter for $76,459.63 on April 16, 2024. Childs denied all allegations.
On April 6, 2015, a FINRA arbitration claim (Case No. 15-00340) was filed against Morgan Stanley, alleging that Matthew Childs misrepresented the risks of municipal bonds, making them unsuitable for a trust account. The client sought damages of $468,458.02. On December 9, 2015, Morgan Stanley settled the dispute for $200,000. Childs did not personally contribute to the settlement and denied the allegations.
On October 2, 2012, a client filed a complaint against Matthew Childs during his tenure at Morgan Stanley Smith Barney. The client alleged misrepresentation of a foreign bond’s maturity value. The dispute was settled for $33,123.48, with no contribution from Childs.
On March 26, 2015, a dispute arose during Childs’ time at Oppenheimer & Co. Inc., where an attorney alleged an unsuitable equity investment for an estate account. The claim sought damages of $26,475 but was denied by the firm on April 8, 2015.
Looking for more information about Matthew Childs? If so, reach out to Soreide Law Group online or at (888) 760-6552 to speak with a securities attorney. Soreide Law Group represents investors nationwide, handles cases on contingency, advances necessary costs, and works to recover losses caused by sales practice violations, though recovery is not guaranteed. Childs and the firms he worked for deny accusations of sales practice violations.
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