John Scott Matthews of New York New York is a stockbroker formerly associated with Global Arena Capital Corp who has been suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity supported by accusations that he failed to comply with a FINRA arbitration award or otherwise adequately inform FINRA regarding his compliance with an arbitration award. Case No. 15-01784 (Sept. 18 2017).
FINRA Public Disclosure reveals that Matthews has been referenced in two customer initiated investment related disputes containing allegations of Matthews’ wrongful conduct since having been fined $25,000.00 and suspended for six months by FINRA for executing $1,800,000.00 worth of convertible promissory notes sales outside the auspices of his firm in violation of National Association of Securities Dealers (NASD) Rule 3040. Letter of Acceptance, Waiver and Consent, No. 2013037235102 (Dec. 2, 2015).
Particularly, a customer was awarded $37,828.00 in damages according to an investment related arbitration claim involving Matthews’ wrongful conduct, wherein Matthews was found to have negligently handled the customer’s investment account, made unsuitable investment recommendations to the customer, breached his fiduciary duties and violated Oregon Securities Law in reference to the customer’s investments in Safeway Inc., Genworth Financial, Inc. and Yamana Gold Inc. notes. FINRA Arbitration No. 15-01784 (May 19, 2016).
Thereafter, a customer was awarded $20,000.00 in damages after pursuing an arbitration claim involving Matthews’ improper conduct, in which Matthews was found to have breached his fiduciary duties and placed transactions in the customer’s account that were not suitable for the customer. FINRA Arbitration No. 16-00350 (Feb. 24, 2017).
Global Arena Capital Corp was expelled by FINRA on January 4, 2016.
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