February 2018-Austin, TX
According to publicly available records Matt S. Neas , (CRD# 2863660) , a former stockbroker who last worked for Newbridge Securities Corp. was recently permanently barred from the securities industry by FINRA.
The Financial Industry Regulatory Authority (FINRA) is the agency that licenses and regulates stockbrokers and brokerage firms. FINRA requires brokers and brokerage firms to report customer complaints and disputes as well as regulatory sanctions. In addition brokers are required to disclose certain financial matters such as personal bankruptcies, judgments and liens.
The FINRA record of Matt Neas discloses 8 prior customer disputes, a termination from employment and 4 outstanding judgment/liens. A recent press release indicates that an Austin couple has filed a FINRA arbitration claim against his employer Newbridge Securities alleging that a large part of their life savings has been lost as a result of a recommendation to invest in risky exchange traded funds (ETFs).
The prior customer disputes that have been settled include:
- FINRA Case 11-0767-a customer of his prior employer Merrill Lynch was paid $75,000 to resolve allegations that Neas made unsuitable investment recommendations , traded the account without permission and made excessive trades.
- FINRA Case 8-3095- a customer of his prior employers UBS Financial Services and Merrill Lynch was paid $180,000 to resolve allegations that Neas unsuitably invested and churned his account.
Neas was employed by Merrill Lynch from 11/2005-8/2008. He was discharged by Merrill Lynch 7/2008 after the firm concluded that he exercised discretion in client accounts without written authorization.
Neas was then employed by NEXT Financial Group from 9/2008-2/2011 and with Newbridge Securities Corp. from 2/2011-3/2017. He is affiliated with Neas Financial Group in Austin, TX.
Neas discloses currently outstanding liens/judgements to the IRS of $155,388 and to Merrill Lynch of $1,083,357.
If you have losses in an investment account handled by Matt S. Neas , call to learn how you may be able to recover damages through FINRA arbitration.
Rex Securities Law , with offices in Boca Raton, FL, and Austin, TX, provides representation to investors nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.
Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.
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