Matthew P. Schulman entered into a Letter of Acceptance, Waiver and Consent (AWC) with the Financial Industry Regulatory Authority (FINRA). He is accused of effecting bond trades between his personal brokerage account and Vandham’s proprietary trading account in disproportionate prices that significantly favored him at his firm’s expense, resulting in illegal profits of $30,000. During the time period of December 2014 until May 2015, Schulman effected 23 bond transactions between his personal account and Vandham’s. He did this without the knowledge or pre-approval or written authorization of Vandham’s. This is against securities rules and regulations.
Matthew P. Schulman was registered with Merrill Lynch in New York, New York from November 1998 until October 2004, Nationwide Planning Associates in Paramus, New Jersey from October 2004 until June 2006 and Vandham Securities in Woodcliff Lake, New Jersey from June 2006 until May 2015. He is not currently registered with any member firm and FINRA permanently barred him from the industry and he is not licensed.
If you invested money with Matthew P. Schulman, please call our securities law firm at 312-332-4200 to speak to an attorney. The call is free with no obligation. We sue firms such as Vandham Securities for not properly supervising their brokers. We may be able to help you recover your financial losses. Please call soon as time is of the essence.
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