FINRA Bars Ex-Wells Fargo Adviser for Excessive Trading

Posted on April 6th, 2017 at 2:40 PM
FINRA Bars Ex-Wells Fargo Adviser for Excessive Trading

From the Desk of Jim Eccleston at Eccleston Law LLC:

FINRA has barred former Wells Fargo adviser, Matthew Maczko of Oak Brook, Illinois for allegedly engaging in excessive trading in the brokerage accounts of a 93-year-old customer.

According to FINRA, Mr. Maczko allegedly executed unsuitable trades given the customer’s age, risk tolerance and income needs from 2009 to 2016. These unsuitable trades resulted in $397,000 in trading losses.

In his AWC with FINRA, Mr. Maczko neither admitted nor denied the charges but consented to an entry of FINRA's findings. According to BrokerCheck, Mr. Maczko worked for Wells Fargo Advisors from May 2009 to September 2016 and had previously worked for Wachovia Securities and Paine Webber.

The attorneys of Eccleston Law LLC represent investors and advisers nationwide in securities and employment matters. The securities lawyers at Eccleston Law also practice a variety of other areas of securities for financial investors including Securities FraudUnauthorized TradingBreach of Fiduciary DutyRetirement Planning Negligence, and much more. Our attorneys draw on a combined experience of nearly 65 years in delivering the highest quality legal services. If you are in need of legal services, contact us to schedule a one-on-one consultation today.

Related Attorneys: James J. Eccleston

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