Matthew Gary Barks (also known as Matt Barks) of New York, New York, a stockbroker registered with Park Avenue Securities LLC, has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity because he refused to testify in a FINRA investigation relating to the basis behind his termination from Park Avenue Securities. Letter of Acceptance, Waiver, and Consent No. 2021070740701 (January 19, 2023).
According to the AWC, FINRA learned of potential customer signature irregularities on account and policy documents when Barks was associated with Park Avenue Securities. The securities broker dealer noted these irregularities when it discharged Barks as a stockbroker on April 9, 2021.
On November 4, 2022, in connection with FINRA’s investigation into allegations concerning Barks, FINRA sent a letter to him requesting that he appear for testimony on November 29, 2022. Barks failed to appear on that date. FINRA then sent Barks an additional letter on November 29, 2022, requesting he appear for testimony on December 6, 2022. Barks again failed to appear. On January 5, 2023, Barks indicated through an email that he had received FINRA’s requests but would not appear for testimony. Therefore, Barks violated FINRA Rules 2010 and 8210.
FINRA Public Disclosure shows that Barks has been identified in two customer initiated investment related disputes containing allegations of Barks’ misconduct while employed with Park Avenue Securities. Barks was the subject of a customer initiated investment related written complaint which was settled for $4,124.60 on September 20, 2018, based upon allegations that Barks falsified the customer’s signature and completed a traditional life insurance application without the customer’s consent.
On February 14, 2021, another customer filed an investment related complaint involving Barks’ conduct in which the customer requested $25,000.00 in damages based upon alleged forgery of the customer’s signature by Barks on variable annuity authorization forms.
Barks was associated with Park Avenue Securities in New York, New York, as a stockbroker between April of 2018 and April of 2021.
