Scott Matthews Barred From FINRA Due to Failure to Disclose Leads

Customer disputes led to his discharge from last employer

According to the FINRA BrokerCheck website, Scott Frederick Matthews, a financial adviser for 22 years, led a relatively quiet career before a string of several customer disputes in the past two years.

Prior to June 2013, Matthews had been involved in just two customer disputes, one of which was denied and the other closed without action. But in the last week of that month, everything got a bit messier.

According to his firm of employment at the time, Key Investment Services LLC, Matthews was implicated in multiple complaints that week regarding the same security, primarily municipal income trusts. The allegations against him included misrepresentation of costs and risks associated with the security and led to his eventual dismissal from the company. The firm stated that Matthews admitted his failure in disclosing certain risks to those customers and the cases were settled for damages totaling more than $148,000.

Since that week, more complaints about Matthews during his time of employment with Key Investment Services have surfaced, and the firm has settled those claims as well.

Matthews was placed under suspension by FINRA on January 2 as a result of his alleged failure to respond to FINRA’s requests for information and, effective March 12, has been barred from the practice altogether.

Situations like this aren’t uncommon for investors and Silver Law Group wants to make sure you know you’re not alone. If you feel Scott Matthews or any financial adviser has wronged you, you may have legal avenues to pursue. Allow Silver Law Group to guide you through your options in securities arbitration with a free consultation, either in person or on the phone. Each case is handled on a contingent fee basis, meaning that you only pay legal fees if Silver Law Group is successful in your case.

Our attorneys are skilled, experienced and ready to help you. Contact Silver Law Group today for your free consultation to begin your path to loss recovery.