Matthew Ryan Carmichael (CRD #6886967) Has a Customer Dispute Disclosure on FINRA BrokerCheck
Matthew Ryan Carmichael (CRD #6886967) is a broker with a customer dispute on FINRA BrokerCheck. We reviewed his BrokerCheck report on February 4, 2026. It reflects one customer dispute. If you invested with Matthew Ryan Carmichael and have concerns, keep reading.
BrokerCheck link: BrokerCheck
BrokerCheck report: BrokerCheck Report (PDF)
Investor Disputes / Customer Complaints
Matthew Carmichael’s FINRA BrokerCheck Report reflects one customer dispute disclosure. A summary of the dispute is below:
On December 31, 2025, Matthew Carmichael’s FINRA BrokerCheck report lists a pending customer complaint. The customer alleges the variable annuity purchased in October 2025 was not appropriate for his age, liquidity needs, objectives, or planning horizon. The customer wants to exit the product without surrender fees. FINRA BrokerCheck lists the employing firm at the time as NYLIFE Securities LLC. BrokerCheck lists alleged damages of $0.00. It also states the firm made a good-faith determination that damages would exceed $5,000.00.
Rule Summary #1: FINRA Rule 2330 (Deferred Variable Annuities)
FINRA Rule 2330 addresses recommendations involving deferred variable annuities. It focuses on disclosures and supervision, including features like surrender charges, fees, and liquidity limits. Customer complaints about variable annuities often turn on what was explained and documented.
Rule Summary #2: FINRA Rule 2111 (Suitability)
FINRA Rule 2111 requires a reasonable basis for recommendations and a match to the customer’s profile. That profile includes factors like age, risk tolerance, time horizon, and liquidity needs. Disputes may question whether the product fit those factors.
Why This Matters to Investors (Regulation Best Interest)
Regulation Best Interest (Reg BI) is a U.S. securities regulation. It strengthens the standard of conduct that broker-dealers owe to retail investors. It applies when they recommend securities transactions or investment strategies. The U.S. Securities and Exchange Commission adopted Reg BI. It became effective on June 30, 2020. Reg BI aims to protect investors while preserving access to brokerage products and services.
Reg BI requires broker-dealers and financial advisors to act in a retail customer’s best interest at the time of a recommendation. They must not place their own financial or other interests ahead of the customer’s. This standard is higher than the older “suitability” rule. Suitability meant a recommendation only had to be appropriate. It did not have to be the best option or free of conflicts.
Reg BI has four key obligations:
- Disclosure Obligation – Broker-dealers must disclose material facts about the relationship and the recommendation. This includes fees, the scope of services, and conflicts of interest.
- Care Obligation – Broker-dealers must use reasonable diligence, care, and skill. They must consider costs, risks, and alternatives when making a recommendation.
- Conflict of Interest Obligation – Firms must identify conflicts of interest. They must disclose them and mitigate or eliminate them. This includes conflicts that create incentives to favor one product over another.
- Compliance Obligation – Firms must maintain policies and procedures. Those policies should be designed to ensure compliance with Reg BI as a whole.
Reg BI applies to each recommendation. It is not a continuous duty like the fiduciary standard for registered investment advisers. Even so, it narrows the gap. It puts more focus on costs, conflicts, and investor-focused decision-making.
Overall, Regulation Best Interest promotes transparency. It also aims to improve the quality of investment recommendations. It is designed to reinforce trust between retail investors and broker-dealers in the U.S. securities markets.
Background Information (from BrokerCheck)
Based on His FINRA BrokerCheck report, Matthew Carmichael:
Is currently registered with NYLIFE Securities LLC and Eagle Strategies LLC.
Has passed the Securities Industry Essentials (SIE) exam. Matthew Carmichael has passed Series 7TO and Series 6. He has also passed Series 66 and Series 63.
BrokerCheck lists no prior securities firm registrations.
Kurta Law Can Help
If you have worked with Matthew Carmichael and you have concerns about his activity, Kurta Law may be able to help you evaluate your legal options. You can read more about potential claims and investor protections in the resources below. To speak with Kurta Law, call 877-600-0098 or email info@kurtalawfirm.com.
Helpful resources: Variable Annuities | Unsuitable Investments
For nearly 20 years, Kurta Law has advocated for investors and helped hold financial professionals accountable. Our firm represents clients nationwide in securities arbitration and related disputes. If you believe a broker or firm mishandled your account, an attorney can review the facts and explain possible next steps.