Publicly available records provided by the Financial Industry Regulatory Authority (FINRA) on October 3, 2016 indicate that former Illinois-based Wells Fargo Advisors broker Matthew Maczko is currently not affiliated with any broker-dealer firm. The securities and investment fraud law firm Fitapelli Kurta is interested in hearing from investors who have complaints regarding Mr. Maczko (CRD# 1888519).
Matthew Maczko has spent twenty-seven years in the securities industry and was most recently registered with Wells Fargo Advisors in Oak Brook, Illinois (2008-2016). He was previously registered with UBS Financial Services in Oakbrook Terrace, Illinois (1986-2008). He is currently not registered with any state or firm.
According to his BrokerCheck report, Matthew Maczko has received one customer complaint and two denied customer complaints, and was recently discharged from Wells Fargo Advisors.
In September 2016 Matthew Maczko was terminated from his position at Wells Fargo Advisors while “internal review for adherence to industry standards of conduct based on concerns about the level of trading in a customer account.”
In 1995 a customer alleged Matthew Maczko, while employed at Painewebber, executed unauthorized trades, made unsuitable recommendations, failed to supervise, and misrepresented material facts. The complaint settled for $35,000.
According to FINRA rules and federal securities law, financial professionals like Matthew Maczko are prohibited from executing transactions without a customer’s permission or authorization. There are some exceptions, including discretionary accounts and, in some circumstances, margin accounts. Brokers, investment advisers, and broker-dealer firms who effect unauthorized trades may be subject to disciplinary action by FINRA or the Securities and Exchange Commission.
FINRA Rule 3110(a)(2) requires broker-dealer firms to assign “an appropriately registered principal(s)” to perform supervisory duties for every type of business the firm conducts. Principals are required to ensure the compliance of individual representatives as well as the firm as a whole. Relevant issues include the representatives’ character and qualifications, outside employment, and regulation of business transactions. Representatives may not engage in outside business activities or securities transactions without providing written notice to their supervising principals. Principals who fail in their supervisory duties may be subject to disciplinary action by FINRA or the Securities and Exchange Commission.
If you have lost money investing with Matthew Maczko, you may be able to recover your losses. Call the securities and investment fraud law firm Fitapelli Kurta at 877-238-4175 for a free consultation. All cases are taken on a contingency basis: Fitapelli Kurta only gets paid if and when you collect funds. Time to file your claim may be limited, so we encourage you to avoid delay. Call 877-238-4175 now to speak to an attorney for free.