Securities Arbitration Investment Fraud Lawyers » Misappropriation of Funds » Stifel Nicolaus Stockbroker Barred In Options Trading Inquiry

Sign of the Financial Industry Regulatory Authority

Matthew Alexander Perry (also known as Alex Perry) of Columbia Montana a stockbroker formerly registered with Stifel Nicolaus Company incorporated has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity founded on findings that he refused to cooperate with FINRA when he was investigated for a customer complaint regarding options trades at Stifel Nicolaus. Letter of Acceptance Waiver and Consent No. 2019062348301 (June 28, 2021).

According to the AWC, FINRA was made aware from Stifel Nicolaus that it terminated Perry’s stockbroker registration and that there were customer complaints involving Perry’s sales practices. One of those customer disputes contained accusations of Perry failing to invest according to the customer’s goals, and failing to tell the customer about the risks pertaining to options trades. The regulator launched an investigation into Perry.

The stockbroker provided FINRA with information and documentation in response to requests that the regulator made on June 19, 2019 and on March 8, 2021. But when Perry received an April 26, 2021 request for additional information and documents, he failed to comply by the May 10, 2021 deadline.

On May 7, 2021, Perry was also asked by FINRA to make an apperance on June 30, 2021 to testify about the allegations referenced in customer complaints about him. By June 2, 2021, the regulator received confirmation from Perry’s lawyer that Perry would not make any appearance to testify and that he would not answer FINRA’s requests for additional documents or information. Perry violated FINRA Rules 2010 and 8210 for this reason.

FINRA Public Disclosure confirms that Perry has been identified in three customer initiated investment related disputes concerning accusations of his misconduct when he was associated with Stifel Nicolaus. On May 9, 2019, a customer initiated investment related complaint involving Perry’s activities was resolved for $138,000.00 in damages supported by allegations that the customer did not receive important information from Perry regarding options transactions. The claim alleges that Perry caused the customer damages by failing to follow their instructions.

Perry is also referenced in a customer initiated investment related written complaint which was settled for $10,000.00 in damages on May 22, 2020 based upon accusations that Perry effected unauthorized trades at Stifel Nicolaus resulting in damages.

On September 10, 2020, another customer initiated investment related complaint concerning Perry’s conduct was resolved for $45,000.00 in damages founded on allegations of unsuitable securities trades for the customer’s account. The complaint also alleges unauthorized trading of options and stocks by Perry during the period that he was associated with Stifel Nicolaus Company.