Did you lose money investing with Matthew Amos (CRD# 1177946)?
Galvin Legal, PLLC is launching an investigation on behalf of investors who may have suffered losses investing with Matthew Amos. If you suffered losses investing with Matthew Amos, then Galvin Legal, PLLC may be able to help you recover your losses in a Financial Industry Regulatory Authority (“FINRA“) arbitration claim.
As of October 8, 2020, Matthew Amos’s FINRA BrokerCheck Report contains the following:
BARRED: FINRA has barred this individual from acting as a broker or otherwise associating with a broker-dealer firm.
1 Regulatory Event(s)
1 Employment Separation After Allegations
UPDATE 10/08/2020: According to FINRA’s March 2019 Disciplinary Actions: “Matthew Philip Amos (CRD #1177946, York Haven, Pennsylvania) January 25, 2019 – An AWC was issued in which Amos was barred from association with any FINRA member in all capacities. Without admitting or denying the findings, Amos consented to the sanction and to the entry of findings that he failed to provide documents and information requested by FINRA in connection with an ongoing investigation into allegations set forth on his Form U5, namely, that he submitted a false document with a forged signature in connection with a variable annuity transaction request for his personal account. (FINRA Case #2018059328901)
Current and Previous Registrations
07/27/2001 – 07/26/2018 PFA SECURITY ASSET MANAGEMENT, INC. (CRD#:101161) CAMP HILL, PA
03/31/2000 – 07/03/2001 CAMBRIDGE INVESTMENT RESEARCH, INC. (CRD#:39543) FAIRFIELD, IA
11/05/1999 – 05/01/2000 ARIS SECURITIES COMPANY (CRD#:31256) MAYFIELD HEIGHTS, OH
10/20/1998 – 08/31/1999 LSA SECURITIES, INC. (CRD#:18272) LINCOLN, NE
10/10/1984 – 12/08/1997 1717 CAPITAL MANAGEMENT COMPANY (CRD#:4082) NEWARK, DE
10/19/1983 – 06/01/1984 DOMINICK & DOMINICK, INCORPORATED (CRD#:223)
Due Diligence Requirement
FINRA requires broker’s to conduct due diligence on investments and to conduct a suitability analysis when recommending securities to a customer that takes into account the customer’s knowledge and experience. FINRA Rule 2111(a) states that “a member or an associated person must have a reasonable basis to believe that a recommended transaction or investment strategy involving a security or securities is suitable for the customer, based on the information obtained through the reasonable diligence of the member or associated person to ascertain the customer’s investment profile. A customer’s investment profile includes, but is not limited to, the customer’s age, other investments, financial situation and needs, tax status, investment objectives, investment experience, investment time horizon, liquidity needs, risk tolerance, and any other information the customer may disclose to the member or associated person in connection with such recommendation.”
Rule 2111 is composed of three main obligations: reasonable-basis suitability, customer-specific suitability, and quantitative suitability. Brokers and the brokerage firms they work for that fail to conduct adequate due diligence on investments they recommend or that make unsuitable recommendations can be held responsible for the customer’s losses in a FINRA arbitration claim.
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