Did you lose money investing with Matthew Sibley (a/k/a Matt Sibley) (CRD# 3102207)?
Galvin Legal, PLLC is launching an investigation on behalf of investors who may have suffered losses investing with Matthew Sibley (a/k/a Matt Sibley). If you suffered losses investing with Matthew Sibley (a/k/a Matt Sibley), 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 June 18, 2020, Matthew Sibley (a/k/a Matt Sibley)’s FINRA BrokerCheck Report contains the following:
SUSPENDED: FINRA has suspended this individual from acting as a broker. Please see the detailed report for more information.
Disclosure Events
1 Regulatory Event(s)
UPDATE 6/18/2020: According to FINRA’s April 2020 Disciplinary Actions: Matthew Duane Sibley (CRD #3102207, Park City, Utah) February 28, 2020 – An AWC was issued in which Sibley was assessed a deferred fine of $7,500 and suspended from association with any FINRA member in all capacities for six months. Without admitting or denying the findings, Sibley consented to the sanctions and to the entry of findings that he negligently misrepresented his member firm’s ability to deliver corporate bonds that were not owned by the firm and that it ultimately failed to deliver to the buyer. The findings stated that without any indication that a customer was interested in selling certain corporate bonds, Sibley began to negotiate the sale of the bonds with a registered representative at another firm. Sibley erroneously believed that the other representative was aware that the trade was still contingent on the firm’s ability to acquire the bonds from the customer. Relying on Sibley’s messages and a trade confirmation, the other representative reasonably believed that any contingency had been resolved and that the firm had acquired the bonds or had the ability to acquire them. Sibley had no reasonable basis for believing that his firm would be able to acquire the bonds since the customer had not responded to his inquiry as to whether he wanted to sell the bonds. Sibley negligently misrepresented to the other representative’s firm that the trade was confirmed. Sibley’s firm failed to deliver the bonds to the other firm. The other firm canceled the trade in TRACE and closed out the trade with another customer at a loss. As a result, the other firm suffered a loss of $489,000. The suspension is in effect from March 2, 2020, through September 1, 2020. (FINRA Case #2016049955301)
Current and Previous Registrations
07/25/2017 – 05/23/2018 MULTI-BANK SECURITIES, INC. (CRD#:22098) Cottonwood Heights, UT
07/15/2016 – 11/10/2016 DINOSAUR FINANCIAL GROUP, L.L.C (CRD#:104446) St Petersburg, FL, FL
11/11/2013 – 07/29/2016 HALEN CAPITAL (CRD#:135966) CLEARWATER, FL
09/20/2011 – 09/04/2013 STONECASTLE SECURITIES, LLC (CRD#:131211) NEW YORK, NY
03/29/2007 – 09/26/2011 GUGGENHEIM SECURITIES, LLC (CRD#:40638) SAVANNAH, GA
06/19/2006 – 03/28/2007 UNITED CAPITAL MARKETS, INC. (CRD#:40980) ENCINO, CA
06/09/2004 – 06/14/2006 WILLIAM J. MAYER SECURITIES, LLC (CRD#:104422) GREENWICH, CT
08/12/2003 – 01/06/2004 MERIDIAN INVESTMENTS, INC. (CRD#:13225) BRAINTREE, MA
07/18/2000 – 05/06/2002 GREENWICH CAPITAL MARKETS, INC. (CRD#:11707) STAMFORD, CT
05/01/2000 – 07/21/2000 SALOMON SMITH BARNEY INC. (CRD#:7059) NEW YORK, NY
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 Sibley (a/k/a Matt Sibley) 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.
