Matthew William Carper (CRD #2890738) Has a Regulatory Event Disclosure on FINRA BrokerCheck

Matthew William Carper (CRD #2890738) is an investment adviser representative with a regulatory event disclosure on FINRA BrokerCheck. We reviewed his BrokerCheck report on February 9, 2026. It reflects one regulatory event. If you worked with Matthew Carper and have concerns, keep reading.

BrokerCheck link: BrokerCheck

BrokerCheck report: BrokerCheck Report (PDF)

Regulatory Action(s)

Matthew William Carper’s FINRA BrokerCheck record reflects one regulatory event. A summary is below:

On December 17, 2025, Kentucky reported a final regulatory action involving Matthew Carper. Kentucky alleged he acted as an investment adviser representative without appropriate registration. The matter was resolved by consent and included a $1,000 fine. 

Rule Summary #1: FINRA Rule 1210 (Registration Requirements)

FINRA Rule 1210 describes registration requirements for certain associated persons. FINRA Rule 1210 issues can come up when a firm or representative performs regulated activity without the proper registration in place.

Rule Summary #2: FINRA Rule 2010 (Standards of Commercial Honor and Principles of Trade)

FINRA Rule 2010 is a broad conduct rule that requires high standards of commercial honor. FINRA Rule 2010 is often cited when regulators claim conduct fell short of those standards.

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 Carper:

Is currently registered as an investment adviser representative with Parthenon LLC in Kentucky.

Has passed the General Securities Representative Examination (Series 7) and the Uniform Securities Agent State Law Examination (Series 63).

Was previously registered with firms that include SG Cowen Securities Corporation and J.J.B. Hilliard, W.L. Lyons, Inc.

Has reported the Chartered Financial Analyst (CFA) professional designation.

Kurta Law Can Help

If you have worked with Matthew Carper and you have concerns about his activity, Kurta Law may be able to help you evaluate your legal options. To speak with Kurta Law, call 877-600-0098 or email info@kurtalawfirm.com.

Helpful resources: Unsuitable Investments | Securities Attorney

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.