Scott Matalon Barred, Involved In RBC Client Dispute

Soreide Law Group is investigating potential investor claims of sales practice violations possibly committed by securities broker Scott Jay Matalon [CRD: 4637378, New York, New York], given the disclosures on Financial Industry Regulatory Authority (FINRA) BrokerCheck. Evidently, Matalon worked for Ameriprise Financial Services LLC from May 31, 2013, to August 16, 2019. He then worked for RBC Capital Markets LLC from August 15, 2019, to August 2, 2021. Keep reading to learn more about Matalon’s disclosures.

RBC Capital Markets LLC Investor Accused Matalon Of Unsuitable Investment Recommendations

Particularly, an RBC Capital Markets LLC client filed FINRA Arbitration: 23-03211 about Scott Matalon. Supposedly, Matalon made unsuitable investment recommendations. Because of this, the client allegedly sustained damages on IPOs and structured products. Therefore, on January 24, 2024, RBC Capital Markets LLC settled this matter by paying the client $500,000 in damages.

Scott Matalon Sanctioned By FINRA For Failing To Provide Documents And Information

Evidently, FINRA issued Case: 2023078170101 on June 6, 2023, sanctioning Scott Matalon. Specifically, Matalon was barred from associating with any FINRA member in all capacities.

On April 6, 2023, FINRA initiated a request for information from Matalon as part of its investigation into a complaint. This request was made under FINRA Rule 8210, which obligates individuals to comply with FINRA requests in the context of investigations or examinations. The securities broker, through communication via his lawyer on May 16, 2023, acknowledged receipt of FINRA's request but refused to provide the requested documents and information. Matalon refused to provide documents and information, violating FINRA Rules 8210 and 2010.

Ameriprise Financial Services LLC Investor Accused Matalon Of Negligence, Misrepresentation

Also, a FINRA Arbitration: 22-01619 about Scott Matalon was filed. Supposedly, Matalon allowed a now deceased client to make withdrawals from accounts and surrender his insurance policy despite being aware of the client's health issues. In addition, Matalon was accused of charging excessive fees, making unsuitable investment recommendations, colluding with an accountant to convert funds from the clients, and failing to notify them regarding activity on their accounts. Because of this, the investor apparently incurred damages. As a result, on January 24, 2024, Ameriprise Financial Services LLC settled this matter by paying the client $50,000 in damages.

Did You Sustain Losses Because Of Scott Matalon?

Did you experience losses because of Scott Matalon? If so, reach out to Soreide Law Group online or at (888) 760-6552 and talk to a securities lawyer about a possible recovery of your investment losses. Soreide Law Group has assisted hundreds of clients throughout the country, works on a contingency fee basis, and advances all costs. Matalon and brokerage firms he worked for deny accusations of sales practice violations.