Financial regulators have barred a fired Morgan Stanley advisor after he refused to provide information and documents for a probe related to his dismissal.
The Financial Industry Regulatory Authority has blocked Gregory V. Matthews from associating with member brokerage firms in any capacity after he refused to provide the requested information, FINRA reported last week. Without admitting or denying the findings, Matthews, who was affiliated with Morgan Stanley for roughly nine years, accepted them and consented to the sanction, according to FINRA.
Morgan Stanley discharged Matthews in June following allegations related to exercise of discretion without prior written authorization in four customer accounts, frequency of trading and accuracy of order tickets marked unsolicited, according to his BrokerCheck page. He had been registered with FINRA since 1986.
Matthews' Investment Adviser Public Disclosure page shows he joined a Connecticut independent advisory firm, Procyon, in July, the month after his Morgan Stanley dismissal. His LinkedIn profile lists him as self-employed as of February with the title of senior vice president, private wealth advisor, the same title he held at Procyon. He didn't immediately respond to a LinkedIn message seeking comment.
"Procyon is aware of regulatory action involving Greg Matthews and he is no longer an advisor at the firm," the firm said in a statement emailed to ThinkAdvisor on Thursday.
Matthews' lengthy career has included affiliations with 17 firms, including Oppenheimer & Co., Donaldson Lufkin & Jenrette, Merrill Lynch and Jefferies, according to the Securities and Exchange Commission, which shows him with an active investment advisor registration.
© Arc, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to TMSalesOperations@arc-network.com. For more information visit Asset & Logo Licensing.