Switch to ADA Accessible Theme
Close Menu
Free Consultation: 888-976-6111

Matthew Albers: Vienna, Virginia Financial Advisor Suspended

A disciplinary action taken by the Financial Industry Regulatory Authority against Vienna, Virginia broker and investment advisor Roger Owens (CRD# 2917814) suspended him over allegations he improperly exercised discretionary authority in client accounts. A representative of Paulson Investment Company, Albers was suspended for 15 days and ordered to pay a fine of $5,000.

According to a Letter of Acceptance, Waiver and Consent (No. 2018056269001) dated August 2019, Matthew Albers was registered with Paulson Investment Company when, between May 2017 and May 2018, he effected “at least 16 trades on behalf of at least 16 customers on a discretionary basis.” FINRA states that he did not speak to the customers on the day of the transactions, and although he had received authorization to make the purchases, he had not received the customers’ authorization to exercise discretionary authority in their transactions, and did not seek or receive his firm’s written approval of the accounts for discretionary trading. The findings state further that he attested on an annual compliance questionnaire in December 2017 that he “had not exercised discretionary trading in any of his customers’ accounts,” though he had already placed some of the discretionary transactions. FINRA found these activities to constitute violations of NASD Rule 2510(b) and FINRA Rule 2010. As a result of the foregoing alleged conduct, Albers was suspended from association with any FINRA member in any capacity for 15 days. He was also ordered to pay a fine of $5,000.

Matthew Albers’ disclosure records also list one customer complaint against him that reached a settlement. Filed in 2014, the complaint alleged that as a representative of Jesup & Lamont Securities, he misrepresented material facts, made unsuitable investment recommendations, and made omissions of material facts. The complaint reached a settlement in 2015 of $50,000.

Matthew Albers is currently registered with Paulson Investment Company in Vienna, Virginia, where he has been registered since 2015. His employment history includes Newport Coast Securities in Easton, Maryland; Meyers Associates in St. Michaels, Maryland; Anderson & Strudwick in Leesburg, Virginia; Jesup & Lamont Securities in Leesburg, Virginia; Empire Financial Group in Easton, Maryland; Berthel Fisher & Company Financial Services in Cedar Rapids, Iowa; Continental Capital Investment Services in Bryan, Ohio; Triad Advisors in Norcross, Georgia; and Investacorp in Miami, Florida. He currently holds 19 state licenses and has passed four securities industry qualification examinations.

Facebook Twitter LinkedIn
Contact Us For A Free Case Evaluation
Latest Blog Posts
  • Nathan Katz Barred by FINRA, Fired by American Independent Securities

    Former Largo, Florida stockbroker Nathan Katz (CRD# 846475) was the subject of a recent Financial Industry Regulatory Action sanction connected...

    Read More
  • FINRA Suspends Ex-Melville Broker Douglas Szempruch: Suitability

    Douglas Szempruch (CRD# 4159318), previously a stockbroker in Melville, New York, was sanctioned by the Financial Industry Regulatory Authority over...

    Read More
  • Stu Pearl: Ex-Indianapolis Rep Sanctioned over ETF Allegations

    Former Indianapolis stockbroker Stu Pearl (CRD# 1500833) has been sanctioned by the Financial Industry Regulatory Authority over findings he made...

    Read More
  • Former SagePoint Rep Gary Bowman Suspended: UIT Allegations

    Gary Bowman (CRD# 2035699) , an ex-SagePoint Financial stockbroker, has been sanctioned by the Financial Industry Regulatory Authority after findings...

    Read More
  • Previous
  • Next