Previously registered broker Matthew Siliato (also known as Matthew Angelo Siliato) was barred from acting as a broker or otherwise associating with a broker-dealer firm by FINRA in April 2021. Siliato was barred after allegedly refusing to provide an on-the-record (OTR) testimony requested by FINRA, according to a Letter of Acceptance, Waiver and Consent (AWC) under review by attorney Alan Rosca.
Investment loss attorney Alan Rosca and his colleagues, of the Rosca Scarlato LLC law firm, are investigating conduct related to Siliato’s allegations of potentially excessive and unauthorized trading in a customer’s account. Investors who are concerned about their investments with Siliato are encouraged to reach out to attorney Alan Rosca or his colleagues for a free, no-obligation consultation and discussion of potential options, or to provide any useful information. Call 888-998-0530, send an email to arosca@rscounsel.law, or complete the contact form on this webpage.
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FINRA Was Investigating Broker Matthew Siliato‘s Alleged Potentially Excessive and Unauthorized Trading
FINRA requested that previously registered broker Matthew Siliato appear for an OTR testimony during its investigation into Siliato‘s alleged potentially excessive and unauthorized trading in a customer’s account during his registration with Wynston Hill Capital, LLC in Brandon, South Dakota, where he worked from December 2018 until June 2019.
As stated in the AWC, Siliato disclosed that he would not appear for the OTR testimony at any time. Without admitting or denying the allegations, Matthew Siliato signed the AWC, consenting to being barred from securities industries.
FINRA Has Previously Suspended Matthew Siliato Twice
FINRA suspended Siliato in June 2019 after he allegedly failed to comply with an arbitration award in a case filed by his previous broker dealer, Windsor Street Capital, LP. The firm, located in New York, New York, was expelled by FINRA in May 2018, FINRA records show.
Shortly after, in September 2019, Siliato was suspended for allegedly failing to comply with a second arbitration award, this time in a case initiated by Spartan Capital Securities, another former employer of Siliato.
Broker Matthew Siliato Has Been the Subject of Customer Disputes
In April 2017, a customer dispute was filed with FINRA alleging unsuitable and unauthorized trades between February 2016 and November 2016 while Matthew Siliato was registered with Meyers Associates, LP. According to Siliato’s FINRA Brokercheck report, the dispute involves $383,000 in alleged damages and investments in over-the-counter (OTC) equity securities.
Matthew Siliato is also the subject of four settled customer dispute disclosures filed between 2010 and 2016. In April 2010, a customer dispute alleging misrepresentation during Siliato’s registration with J.P. Turner & Company LLC that included $6,975 in alleged damages. The dispute, which involved investments in OTC equity securities, was settled in September 2010 for $5,931.
Another customer dispute involving OTC equity securities alleged failure to follow instructions while Siliato was employed by Meyers Associates, LP. The dispute, which was filed in April 2014, involved $75,000 in alleged damages and was settled for $14,999 in March 2015.
Allegations of suitability and breach of fiduciary duty that involved investments in OTC equity securities were included in another customer dispute filed with FINRA in December 2015. The customer alleged that the activities occurred during Siliato’s registration with National Securities Corp. The alleged damages were $522,941, and the dispute was settled in March 2018 for $72,000.
The fourth settled customer dispute, which was filed with FINRA in June 2016, involved a suitability allegation and investments in OTC equity securities. The alleged damages were $250,627.60, and was settled in June 2018 for $14,999.99.
Finally, it is important to note that, as of the date of this article, there has not been a finding of liability as to the complaints or allegations mentioned in this article, unless otherwise indicated. Any reader should also read the original sources hyperlinked in this blog for accuracy, including any BrokerCheck report and/or record of any disciplinary or regulatory action. Those sources are incorporated by reference into the text of this blog, and are the governing materials in case of any inconsistencies or typos in this blog.
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Concerned About Your Investment with Broker Matthew Siliato?
The Rosca Scarlato LLC law firm represents investors who lose money as a result of investment-related fraud or misconduct and is currently investigating conduct related to broker Matthew Siliato’s alleged excessive and unauthorized trading in a customer’s account, among others.
The firm takes most cases of this type on a contingency fee basis and advances the case costs, and only gets paid for their fees and costs out of money recovered for clients. Attorney Alan Rosca, a securities lawyer and adjunct professor of securities regulation, has represented thousands of victimized investors across the country and around the world in cases ranging from arbitrations to class actions.
Investors who believe they lost money as a result of conducts related to broker Matthew Siliato’s allegations of potentially excessive and unauthorized trading in a customer’s account, among other things, may contact attorney Alan Rosca or his colleagues for a free no-obligation case evaluation and discussion of potential options, at 888-998-0530, via email at arosca@rscounsel.law, or through the contact form on this webpage.