Did you lose money investing with Matthew Logan (CRD# 5366984)?
Galvin Legal, PLLC is launching an investigation on behalf of investors who may have suffered losses investing with Matthew Logan. If you suffered losses investing with Matthew Logan, then Galvin Legal, PLLC may be able to help you recover your losses in a Financial Industry Regulatory Authority (“FINRA“) arbitration claim.
If you suffered losses and would like a free consultation with a securities attorney, then please call Galvin Legal, PLLC at 1-800-405-5117.
As of December 31, 2022, Matthew Logan’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.
Disclosure Events
1 Regulatory Event
1 Employment Separation After Allegations
June 29, 2022 – Logan appealed a National Adjudicatory Counsel (NAC) decision to the Securities and Exchange Commission (SEC). Logan was barred from association with any FINRA member in all capacities. The NAC affirmed the findings and sanctions imposed by the Office of Hearing Officers (OHO). The sanction was based on the findings that Logan acted unethically by using an imposter to cheat on the FINRA Regulatory Element and non-FINRA continuing education courses, including an ethics continuing education course, an anti-money laundering (AML) continuing education course and a processing checks and securities training. The findings stated that Logan instructed an office administrative assistant to take the continuing education courses on his behalf and she did so by using Logan’s login credentials. Further, Logan forwarded an email reminder that he received from his member firm reminding him of the requirement to take the Regulatory Element by a certain date to the assistant. As a result, the assistant completed the Regulatory Element on Logan’s behalf by using his credentials to log in to FINRA’s Continuing Education Online System (CE Online). After the assistant completed Logan’s Regulatory Element training, Logan received an email from FINRA that included his completion certificate, which Logan forwarded to her for printing. It was Logan’s understanding that the assistant would provide the certificate to the firm’s compliance department as proof that Logan had completed the course himself. The findings also stated that Logan lied about his misconduct to his firm’s parent company, where he held the position of life insurance sales manager. In an interview with the head of the firm’s special investigation unit, Logan stated that the assistant may have completed an AML course for him but denied asking her to complete the Regulatory Element and other continuing education requirements on his behalf. Logan falsely stated that he would ask the assistant to initiate training for him. Logan explained that initiate training meant that the assistant would sign him into online training portals on her computer so that he could complete continuing education courses from that computer. The head of the firm’s special investigation unit read aloud to Logan emails between
him and the assistant concerning the Regulatory Element. In response, Logan again denied that he asked the assistant to complete this course for him. The bar is in effect pending review. (FINRA Case #2019063570502)
Current and Previous Registrations
05/28/2019 – 08/21/2019 EQUITY SERVICES, INC. (CRD#:265) MONTPELIER, VT
08/06/2013 – 01/09/2019 HORNOR, TOWNSEND & KENT, INC. (CRD#:4031) QUINCY, MA
10/29/2010 – 03/15/2012 HORNOR, TOWNSEND & KENT, INC. (CRD#:4031) BOSTON, MA
04/30/2010 – 09/30/2010 ONEAMERICA SECURITIES, INC. (CRD#:4173) BRAINTREE, MA
07/27/2007 – 01/15/2010 METLIFE SECURITIES INC. (CRD#:14251) HINGHAM, MA
If you suffered losses and would like a free consultation with a securities attorney, then please call Galvin Legal, PLLC at 1-800-405-5117.
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.
If you suffered losses and would like a free consultation with a securities attorney, then please call Galvin Legal, PLLC at 1-800-405-5117.
Request a Free Consultation with a Securities Attorney
If you suffered losses investing with Matthew Logan and would like a free consultation with a securities attorney, then please call Galvin Legal, PLLC at 1-800-405-5117.
This information is all publicly available and is being provided to you by Galvin Legal, PLLC.
Galvin Legal, PLLC is a national securities arbitration, securities mediation, securities litigation, securities fraud, securities regulation and compliance, and investor protection law practice. For more information on Galvin Legal, PLLC and its representation of investors, please visit www.galvinlegal.com or call 1-800-405-5117.
