Matthew Black Allegedly Failed to Promptly Liquidate Accounts
Matthew Black (CRD #: 6963588), a broker formerly registered with Charles Schwab & Company, is involved in a pending dispute, according to his BrokerCheck record, accessed on March 28, 2023. If you want to know more about his alleged conduct as a broker, read on.
On January 11, 2023, multiple investors filed a dispute alleging that Matthew Black made an unsuitable recommendation to invest in automated investing service Schwab Intelligent Portfolios in or around November 2021. They further alleged that Matthew Black failed to terminate and liquidate their accounts in June 2022 in a timely manner, resulting in losses.
The clients seek $57,096.92 in damages in this pending dispute.
FINRA Rule 2111
FINRA Rule 2111 requires brokers to evaluate whether an investment fits their investor’s financial goals. Brokers must take into account the information described in an investor’s profile, such as their tax status, risk tolerance, and other investments.
Investors who rely on their broker for recommendations may be able to recoup their losses through FINRA arbitration.
FINRA Rule 2010
FINRA Rule 2010 holds brokers to high standards of commercial honor and just and equitable principles of trade.
Matthew Black has passed the following exams:
- Series 65 – Uniform Investment Adviser Law Examination
- Series 63 – Uniform Securities Agent State Law Examination
- SIE – Securities Industry Essentials Examination
- Series 7 – General Securities Representative Examination
He previously worked for Charles Schwab & Company (CRD#:5393).
Kurta Law Can Help
If you worked with Matthew Black and you have concerns about your investments, please contact us today at 877-600-0098 or firstname.lastname@example.org for a free consultation.
For over 20 years, Kurta Law has advocated on behalf of investors who want to recover their investment losses from brokers and brokerage firms. Kurta Law is a nationally recognized law firm and 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.