Matt Romeo is Facing a $500,000 Investor Dispute

Matt Romeo (CRD #: 4201945), a broker previously registered with Mid Atlantic Capital Corporation, is the subject of an investor dispute. This is according to his BrokerCheck record, accessed on January 2, 2024. Keep reading if you have questions regarding his alleged conduct as a broker. 

Investor Dispute

On October 31, 2023, an investor alleged that Matt Romeo recommended an unsuitable investment. The investor further alleges he misrepresented the investment. The investor is seeking $500,000. 

Regulatory Action 

On January 14, 2016, the SEC alleged that Matt Romeo recommended a class of mutual fund that featured commissions for the broker, even though the firm offered another class of mutual funds that did not have commissions. 

The SEC alleges that as the Chief Operating Officer of the firm, Matt Romeo willfully violates securities regulations with his mutual fund recommendations. 

The SEC imposed a fine of $20,000 and a disgorgement payment of $201,985.66. 

FINRA Rule 2111 – Unsuitable Investments 

FINRA Rule 2111 defines suitable investments as securities that fit an investor’s profile. Investor profiles have information on the investor’s age, risk tolerance, tax status, investing experience, and financial goals. Investments that do not take these factors into account may be unsuitable. Mutual funds that charge unnecessary fees are often unsuitable for a variety of reasons. 

Misrepresentation 

FINRA Rule 2020 forbids the use of deceptive, manipulative, and otherwise fraudulent methods to influence the purchase and sale of securities. The misrepresentation or omission of material facts violates this rule.

Background Information 

Matt Romeo has passed the following exams: 

• Series 63 Uniform Securities Agent State Law Examination 
• SIE – Securities Industry Essentials Examination 
• Series 7 General Securities Representative Examination
• Series 24 General Securities Principal Examination 

During his 15 years of experience, he has registered with the following two firms: 

• Mid-Atlantic Capital Corporation (CRD #: 10674) 
• Cambridge Investment Research (CRD #: 39543) 

Kurta Law Can Help 

If you have worked with Matt Romeo and have concerns about your investments, do not hesitate to contact us at 877-600-0098 or info@kurtalawfirm.com for a free consultation. 

For nearly 20 years, Kurta Law has advocated for investors to recover their investment losses from brokers and brokerage firms. Kurta Law is a nationally recognized law firm that exclusively represents investors against brokers and brokerage firms on a contingency basis. This means that the firm only earns a fee if our securities attorneys recover money on your behalf. Do not let securities fraud go unchecked. Start your recovery process today.