Matthew James Chimento, of Alpharetta, Georgia, a stockbroker registered with Morgan Stanley, has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity because Chimento failed to cooperate with FINRA’s investigation into allegations that he transferred funds out of a customer’s account into an account for his benefit without customer authorization. Letter of Acceptance, Waiver, and Consent, No. 2023080682201 (March 19, 2024).
According to the AWC, FINRA was notified of Chimento’s resignation from Morgan Stanley on November 20, 2023. The securities broker dealer filed a Uniform Termination Notice for Securities Industry Registration (Form U5) on December 11, 2023, disclosing Chimento’s voluntary resignation while under review for the unauthorized transfer of customer funds for his own benefit.
FINRA’s investigation into Chimento began following the Form U5 submission by Morgan Stanley. The regulator demanded Chimento provide information and documents related to the investigation. However, Chimento, through his lawyer, communicated to FINRA on February 21, 2024, his refusal to comply with the request for information and documents. This refusal to cooperate with FINRA’s investigation constituted a violation of FINRA Rules 8210 and 2010.
Chimento was associated with Morgan Stanley in Alpharetta, Georgia, from March 13, 2023, to December 11, 2023. Before Morgan Stanley, Chimento was registered with ETRADE Securities LLC, also located in Alpharetta, Georgia, from March 1, 2018, to September 5, 2023.
