July 21, 2021
Former Stifel, Nicolaus & Company broker Matthew Alexander Perry recently entered into an Acceptance, Waiver, and Consent (AWC) settlement agreement with FINRA agreeing to a bar from associating with any FINRA member in all capacities.
Although Perry initially cooperated with FINRA’s investigation by responding to FINRA’s June 19, 2019 and March 8, 2021 Rule 8210 requests for documents and information, he ceased doing so in May and June 2021. On April 26, 2021, FINRA staff sent Perry a request for documents and information pursuant to Rule 8210. The request asked for a response by May 10, 2021. On May 7, 2021, FINRA staff sent Perry a request to appear for on-the-record testimony on June 29 and 30, 2021, pursuant to Rule 8210.
As stated during his counsel’s phone call with FINRA staff on June 2, 2021, in emails Perry’s counsel sent to Enforcement on May 27 and June 2, 2021 Perry acknowledged that he received FINRA’s requests and would not produce the information or documents requested or appear for on-the-record testimony. By refusing to produce the information or documents and refusing to appear for on-the-record testimony, as requested pursuant to FINRA Rule 8210, Respondent violated FINRA Rules 8210 and 2010.
In June 2016, Perry became registered with FINRA through Stifel, Nicolaus & Company, Incorporated. In March 2019, Perry voluntarily terminated his association with Stifel and on March 22, 2019, Stifel filed a Uniform Termination Notice for Securities Industry Registration (Form U5) terminating Perry’s registration. On April 12, 2019, Stifel filed a Form U5 amendment disclosing a customer complaint alleging failure to follow the customer’s stated goals and failure to disclose risks associated with options trading. Thereafter, beginning on July 11, 2019, Stifel filed several U5 amendments disclosing additional customer complaints.