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Investor Alleges Matthew Whiting Executed Unauthorized Trades

Matthew Whiting (CRD #: 5189115), a broker registered with Merrill Lynch, Pierce, Fenner & Smith, was the subject of a recent investor dispute, according to his BrokerCheck record, accessed on July 13, 2022. Keep reading to learn more about Matthew Whiting’s conduct as a broker.

Investor Dispute

On May 5, 2022, an investor alleged that Matthew Whiting made misrepresentations, failed to follow instructions, recommended unsuitable investments, and engaged in unauthorized trading from May 2021 to May 2022. This dispute was denied by the firm.

Investors should be aware, however, that firms don’t need to allow an external review before denying disputes. Investors may still be able to recoup their losses following a denial by seeking out FINRA arbitration.

FINRA Rule 2111 

FINRA Rule 2111 requires brokers to tailor their investment recommendations to suit investors’ profiles. These profiles contain information such as investors’ tax status, risk tolerance, and other investments.

FINRA Rule 2020 

FINRA Rule 2020 bans the use of manipulation, deception, and other unethical means of influencing investors’ decisions. Misrepresenting an investment’s fees, returns, or risks also violates this rule.

FINRA Rule 3260

FINRA 3260 restricts brokers from engaging in discretionary trading outside of pre-approved discretionary accounts. These accounts must receive authorization from the client and the firm before discretionary trading can occur.

Background Information

Matthew Whiting has passed the following exams:

  • Series 66 – Uniform Combined State Law Examination
  • Series 63 – Uniform Securities Agent State Law Examination
  • SIE – Securities Industry Essentials Examination
  • Series 7 – General Securities Representative Examination

Matthew Whiting is a registered broker in 22 states and the District of Columbia. He is also a registered investment adviser in Connecticut and Texas.

In the past, he has also worked with Strategic Advisers (CRD#:104555) and Fidelity Brokerage Services (CRD#:7784).

Kurta Law Can Help

If you worked with Matthew Whiting and you have concerns about your investments, please contact us today at 877-600-0098 or 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.