Florida Broker Barred for Failure to Cooperate With Investigation Into Allegations of Elder Investment Fraud
Matthew Vincent Muratori (CRD # 6255633) is a previously registered securities broker and investment adviser. From October of 2017 to March 2018, Mr. Muratori was a representative of Foresters Financial Services. Subsequently, he worked at Pruco Securities, LLC from March 2018 until December of 2019. At both broker-dealers, Mr. Muratori was located in Tampa, Florida.
Earlier this year, the Financial Industry Regulatory Authority (FINRA) launched an inquiry into the professional conduct of Matthew Vincent Muratori. Specifically, the agency was reviewing an accusation of elder financial fraud. In violation of rules and regulations, Mr. Muratori refused to cooperate with the investigation. He has now been barred from the securities industry.
FINRA Disciplinary Proceedings: Former Florida Financial Advisor Matthew Vincent Muratori
After first entering the securities industry in 2013, Matthew Vincent Muratori became a registered broker and licensed investment adviser in 2017. He eventually joined Pruco Securities—a New Jersey headquartered brokerage firm that operates nationwide. In December of 2019, Pruco Securities, LLC terminated the Tampa-based financial advisor after allegations that he converted the funds of an elderly investor. Soon after, FINRA initiated its own independent investigation of the alleged misconduct (Letter of Acceptance, Waiver, and Consent NO. 2019063976701). Securities regulators take allegations of elder financial abuse very seriously. Senior citizen investors are vulnerable.
FINRA sent Mr. Muratori official requests to produce written documents and sit for on-the-record testimony. In a phone call, the broker confirmed that he received both of the requests. Nonetheless, he stated that he would not be complying with investigators. This is a serious violation of a broker’s professional duties. Failure to cooperate with an official investigative review is a violation of FINRA Rule 8210 and FINRA Rule 2010. Financial advisors who breach securities industry regulations are subject to strict penalties.
Broker Barred from the Securities Industry
FINRA took immediate enforcement action against Matthew Vincent Muratori. Without admitting or denying any wrongdoing, he consented to FINRA’s proposed penalty. In doing so, he accepted an indefinite bar from the securities industry. Mr. Muratori may not associate with any FINRA member firm in any professional capacity.
Under securities industry rules, registered representatives and other associated persons have a professional responsibility to cooperate with investigations into allegations of misconduct. If they decline to do so, they can be barred by FINRA. Financial advisors that refuse to cooperate with regulators are putting investors at serious risk. By violating industry rules, they make it more challenging for investors to get information.
Call Our Miami, FL Elder Investment Fraud Attorneys for Immediate Help
At Carlson & Associates, P.A., our Miami elder financial fraud lawyers are effective representatives for investors. We have the skills, knowledge, and training to handle all types of elder investment fraud claims. If your elderly loved one was defrauded by a financial advisor, our attorneys are ready to help. Call us now for a completely confidential case evaluation. We advocate for the rights and interests of investors throughout Florida.