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New York Financial Advisor Matthew Siliato Suspended By FINRA

Matthew Siliato (CRD#: 5062153), who is not currently affiliated with a firm, was recently suspended by FINRA. The suspension lasted from June 12, 2019 to June 20, 2019, according to his BrokerCheck record accessed on August 8, 2019. He “failed to comply with an arbitration award or settlement agreement or to satisfactorily respond to a FINRA request to provide inMatthew Siliatoformation concerning the status of compliance.”

Matthew Siliato became involved in a customer dispute filed on April 17, 2017. Seeking damages of $383,000, a client of Meyers Associates LP is alleged “churning, margin, unsuitability, [and] unauthorized trading” regarding over-the-counter (OTC) equities.

On June 23, 2016, Matthew Siliato settled a dispute surrounding suitability. The client originally requested $250,627.60 in damages, but the claim was settled for $14,999.99. Six months earlier, he had settled a dispute regarding suitability in which a client requested $522,941 in damages, though the case was settled for $72,000.

A settlement was reported on April 8, 2014 after Matthew Siliato’s firm settled a dispute for $14,999. The client, who alleged that the broker failed to follow instructions, originally sought $75,000 in damages.

A settlement was reported on April 16, 2010 after a customer alleged misrepresentation and originally sought damages totaling $6,975. The claim settled for $5,931.

Two other disputes were closed with no action. On October 5, 2009, National Securities Corp. denied a claim in which a client alleged that he engaged in excessive trading, generating excessive commissions. The client sought $21,000. National Securities Corp. also denied a claim in which a client, who was originally seeking $35,000 in damages, alleged that Matthew Siliato gave them poor advice and poor recommendations.

Matthew Siliato has also had one tax lien and one civil judgment. On September 4, 2015 he was the subject of a civil judgment for $40,068.25. On June 29, 2017, he had a tax lien of $10,840.

Over his 12-year career in the securities industry, Matthew Siliato worked for seven firms:

  • Wynston Hill Capital, LLC (CRD#: 103811) of New York, New York
  • Spartan Capital Securities, LLC (CRD#: 146251) of New York, New York
  • Windsor Street Capital, LP (CRD#: 34171) of New York, New York – expelled by FINRA on May 29, 2018
  • National Securities Corporation (CRD#: 7569) of Staten Island, New York
  • P. Turner & Company, LLC (CRD#: 43177) of Staten Island, New York
  • Joseph Stevens & Company, Inc. (CRD#: 35459) of Brooklyn, New York
  • Joseph Gunnar & Co. LLC (CRD#: 24795) of New York, New York

If Matthew Siliato was your broker or if you have questions about churning or unauthorized trading, don’t hesitate to contact experienced securities attorneys Jonathan Kurta and Marc Fitapelli. Call (212) 658-1500 or email info@fkesq.com for your free consultation.

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