According to a recent Letter of Acceptance, Waiver and Consent (AWC) with the Financial Industry Regulatory Authority (FINRA), Matthew Niederbaumer was accused of exercising discretion in the accounts of five customers without obtaining prior written authorization from the customers or from his member firm, Thrivent Investment Management. Niederbaumer allegedly exercised discretion in executing 10 transactions in connection with the sale and purchase of exchange-traded notes and funds in five customer accounts on January 21, 2016. This is against securities laws. For this, he was suspended for 10 business days and fined $5,000.
According to his online FINRA BrokerCheck report, Niederbaumer has been registered with Thrivent Investment Management in Huron, South Dakota since July 2002. Please call our Chicago-based securities law firm today for a free consultation with an attorney. We may be able to help you bring a claim against Thrivent Investment Management if you suffered losses with Matthew Niederbaumer. The firm had a duty to reasonably supervise him while he was registered there. Because it did not, the firm can be held liable in the FINRA arbitration forum on a contingency fee basis. 312-332-4200.