(FINRA Case #2016051495801)
Mathew M. Serth (CRD #5886278, Stone Ridge, Virginia) – An AWC (Accept, Waiver & Consent) was issued in which Serth was assessed a deferred fine of $5,000 and suspended from association with any FINRA member in all capacities for three months.
Without admitting or denying the findings, Serth consented to the sanctions and to the entry of findings that he placed five orders to purchase securities in four customer accounts, without the customers’ authorization, knowledge or consent.
The findings stated that after discovering the unauthorized trades, Serth’s member firm cancelled the trades and reimbursed one customer for margin interest incurred as a result of the unauthorized purchases for his account.
Serth was terminated from Morgan Stanley in Sept 2016 due to allegations.
The suspension is in effect from August 7, 2017, through November 6, 2017.
If you feel you have been misled or taken advantage by Mathew Serth or any Broker and wish to discuss legal action, please contact Darren Blum at 1-877-786-2552 (1-877-STOCK LAW), www.stockattorneys.com for a free consultation.