Connecticut Broker Matthew Woodard Permanently Barred by FINRA

With just three years in the securities industry, Woodard faced allegations of misconduct

Silver Law Group is investigating the misconduct of Matthew Charles Woodard, a broker from Farmington, Connecticut. An inquiry from FINRA was initiated when Woodard was accused of converting funds from a deceased customer’s account. When asked to cooperate with the investigation, he refused to provide documentation and information and was subsequently permanently barred by FINRA.

Employed for just three short years in the financial services industry, Woodard, worked for Metlife Securities, LPL Financial, Proequities, Inc. and most recently with First Allied Securities from February 2015 to October 2015.

The allegations of misconduct against Woodard include violation of Rule 8210, which requires FINRA members to provide FINRA adjudicators with requested books, records, and accounts associated with an investigation and Rule 2010, which states that FINRA members “in the conduct of its business, shall observe high standards of commercial honor and just and equitable principles of trade.”

Converting funds from a deceased customer’s funds is a direct violation of FINRA rules and any broker or licensed financial services professional is subject to disciplinary action if they are found to be responsible for such misconduct. In addition, brokerage firms are responsible for adequately supervising their registered representatives and must take all necessary steps to ensure that brokers in their employ follow all securities rules and regulations. Firms that fail to do so may be liable for investment losses suffered by their clients.

If Matthew Woodard acted as your financial advisor and you suffered losses as a result of this relationship, it is possible to recover some or all of your losses. The attorneys at Silver Law Group are experienced in recovering losses due to misconduct including the violations that Matthew Woodard has been accused of in his BrokerCheck report.

We represent the interest of investors who are victims of investment fraud. If you have questions about your legal rights or need help, please contact us today for a complimentary consultation with one of our securities arbitration attorneys.