Did Matthew O. Clason Cause You Investment Losses?
You may have read that Matthew O. Clason of Cheshire, Connecticut was permanently barred by the Financial Industry Regulatory Authority (“FINRA”) from working in the securities industry because he failed to comply with FINRA Rule 8210 and 2010.
In October 2016, Matthew O. Clason joined LPL Financial LLC and was registered as a General Securities Representative and Investment Company and Variable Contracts Products Representative. On September 11, 2020, the firm filed a Uniform Termination Notice for Securities Industry Registration (Form U5) indicating that Clason was terminated because he allegedly liquidated shares in a bank account he maintained and shared with a customer. According to the findings, FINRA sent a request to Clason requesting information regarding the allegations that led to his termination. FINRA stated that Clason acknowledged and ultimately refused to produce the requested documents during a counsel phone call. Although Clason is no longer registered with any FINRA member firm, he remains subject to FINRA’s jurisdiction.
FINRA Rule 8210(a)(1) states, in relevant part, that FINRA may “require a person associated with a member, or any other person subject to FINRA’s jurisdiction, to provide information orally, in writing, or electronically and to testify at a location specified by FINRA staff with respect to any matter involved in [a FINRA] investigation.” FINRA Rule 8210(c) states that “no person shall fail to provide information or testimony pursuant to this Rule.” A violation of FINRA Rule 8210 is also a violation of FINRA Rule 2010.
Do You Need a Connecticut FINRA Defense Attorney?
Unfortunately, Matthew O. Clason might have avoided that FINRA 8210 bar from the securities industry with a skilled and experienced FINRA 8210 defense attorney. It is important, early on, to have a FINRA defense attorney advise you on how not to make matters worse and resolve the dispute with the least amount of sanctions which could range from censures to fines, suspensions, permanent bars, and/or referrals to federal or state prosecutors. You will need an experienced FINRA defense lawyer who not only has knowledge of FINRA rules and procedures, the securities laws and the appropriate sanction for the alleged misconduct but also has an excellent reputation and credibility with the FINRA attorneys to negotiate the best outcome.
Free Initial Consultation With FINRA 8210 Defense Attorney Serving Financial Advisors Throughout Cheshire, Connecticut And Nationwide
The Law Offices of Robert Wayne Pearce, P.A. understands what is at stake in FINRA securities law matters and works tirelessly to secure the best possible result for you and your case. Attorney Pearce’s FINRA defense skills are highly regarded throughout Connecticut and across the nation. For dedicated representation by an attorney with over 40 years of experience and success in all kinds of FINRA disputes serving Connecticut citizens, contact the firm by phone at 561-338-0037, toll free at 800-732-2889, or via e-mail.