Richard Matheis Barred by FINRA
Richard Matheis (CRD #: 869179), a previously registered broker with Union Capital Bank, has been barred by FINRA. This disclosure appears on his his BrokerCheck record, accessed on September 27, 2023. Keep reading if you have concerns about his alleged conduct.
On August 24, 2023, FINRA barred Richard Matheis following allegations that he refused to appear for on-the-record testimony as part of an investigation into alleged sales practice violations.
You can read a copy of the bar here.
FINRA Rule 8210
FINRA Rule 8210 requires members to submit their books and records for inspection and to appear for testimony in connection with FINRA investigations.
Investor Dispute
An investor dispute dated June 23, 2021, alleged that the Hospitality Investors Trusts, Inc. REIT was unsuitable.
What is an Unsuitable Investment?
FINRA Rule 2111 requires brokers to evaluate whether an investment strategy fits their investor’s financial goals. Brokers must examine the investor’s profile, which contains the following investor characteristics:
- Age
- Risk tolerance
- Time horizon (i.e., how long the investor plans to hold the investment)
- Investing experience
- Tax status
- Financial goals
Investors who rely on brokers for recommendations may be able to recover losses from unsuitable investment recommendations by pursuing FINRA arbitration.
Background Information
Richard Matheis has passed the following exams:
- Series 63 Uniform Securities Agent State Law Examination
- SIE – Securities Industry Essentials Examination
- Series 3 National Commodity Futures Examination
- Series 31 Futures Managed Funds Examination
- Series 30 NFA Branch Managed Examination
- Series 24 General Securities Principal Examination
Richard Matheis has registered with five firms during his 41 years of experience:
- Union Capital Company (CRD #: 110301)
- Berthel, Fisher, & Company Financial Services (CRD #: 13609)
- VSR Financial Services (CRD #: 14503)
- Titan Capital Corporation (CRD #: 6359)
- WZW Financial Services (CRD #: 5717)
Kurta Law Can Help
If you worked with Richard Matheis and have concerns about your investments, please contact us today at 877-600-0098 or info@kurtalawfirm.com 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 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.
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