Regulator Sanctions Investors Capital Corp Stockbroker
Matthew Earl Peregoy of Brick New Jersey a stockbroker formerly employed by Investors Capital Corp. has been assessed a $39,000.00 civil monetary penalty by New Jersey Securities Bureau according to a Consent Order containing findings that (1) Peregoy engaged in unethical and dishonest practices in the securities business (2) Peregoy is the subject of an Order expelling him from a self-regulatory organization. In the Matter of Matthew E. Peregoy et al. (Dec. 21, 2018).
Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that Peregoy has been barred from associating with any FINRA member in any capacity supported by findings that he failed to cooperate with the regulator during an investigation into allegations of his non-disclosures and possible misuse of funds during the period in which he was associated with Investors Capital Corp. Letter of Acceptance Waiver and Consent No. 2017054026701 (Jan. 16, 2018).
According to the AWC, Peregoy was asked by FINRA personnel to provide information or documentation in response to accusations of his misappropriation or other misuse of funds. The AWC stated that FINRA personnel received an e-mail from the stockbroker on December 18, 2017 indicating that he would not provide any information requested by FINRA in the investigation. FINRA determined that Peregoy’s obstruction of the investigation constituted the violation of FINRA Rules 2010 and 8210. The stockbroker was barred from the securities industry.
FINRA Public Disclosure additionally confirms that a customer initiated investment related complaint in regard to Peregoy’s conduct was resolved for $20,201.86 in damages based upon allegations that when Peregoy was associated with Investment Center Inc., misrepresentations or omissions had been made to the customer concerning Peregoy’s activities in the customer’s account and the charges for investing.
Peregoy’s registration with Investors Capital Corp. has been terminated as of July 23, 2016.