There are options for clients of former Cambridge Investment Research, Inc. broker Matthew Romeo (CRD# 4201945) regarding real estate security losses. He was registered with Mid Atlantic Capital Corporation in Dublin, Ohio, from 2015 to 2020, and Cambridge Investment Research, Inc. in Dublin, Ohio from 2004 to 2015.
In January 2016, the Securities and Exchange Commission sanctioned him to pay a $20,000 civil and administrative penalty, $201,985.66 in disgorgement, and a $23,422.66 monetary penalty. It is alleged that he recommended his clients invest in a single family of mutual funds (the Mutual Fund Complex), since 2010. According to BrokerCheck, he allegedly recommended his clients invest in the mutual funds, which had significantly higher fees than a comparable mutual fund without those added fees, “inconsistent with the registered investment adviser’s duty to seek best execution for its clients.”
Matthew Romeo Customer Complaints
He has been the subject of one customer complaint, according to his CRD report:
December 2023. “In August 2014, Claimant opted to invest in a Real Estate Investment Trust contrary to Mr. Romeo’s recommendation that he invest in a diversified portfolio of stocks and bonds. Claimant was seeking a source of income and he liked and understood real estate. Claimant’s investment has not met his expectations and he now alleges the REIT was misrepresented and was unsuitable for him.” The case is currently pending. The customer is seeking $500,000 in damages. The complaint was regarding real estate securities losses, and it took place while he was registered with Cambridge Investment Research, Inc.
Pursuant to FINRA Rules, member firms are responsible for supervising a broker’s activities during the time the broker is registered with the firm. Therefore, Cambridge Investment Research, Inc. may be liable for investment or other losses suffered by Matthew Romeo’s customers.
Erez Law represents investors in the United States for claims against brokers and brokerage firms for wrongdoing. If you have experienced investment losses, please call us at 888-840-1571 or complete our contact form for a free consultation. Erez Law is a nationally recognized law firm representing individuals, trusts, corporations and institutions in claims against brokerage firms, banks and insurance companies on a contingency fee basis.
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