{"id":634,"date":"2017-03-06T18:35:01","date_gmt":"2017-03-06T23:35:01","guid":{"rendered":"http:\/\/www.elderfinancialfraudattorneys.com\/?p=634"},"modified":"2018-10-04T16:15:23","modified_gmt":"2018-10-04T20:15:23","slug":"former-broker-matthew-maczko-has-been-barred-permanently-by-finra","status":"publish","type":"post","link":"https:\/\/www.silverlaw.com\/blog\/former-broker-matthew-maczko-has-been-barred-permanently-by-finra\/","title":{"rendered":"Former Broker Matthew Maczko has been Barred Permanently by FINRA"},"content":{"rendered":"<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-3463\" src=\"\/wp-content\/uploads\/2017\/12\/pic-7-1-300x200.jpg\" alt=\"Former Broker Matthew Maczko has been Barred Permanently by FINRA on silverlaw.com\" width=\"420\" height=\"280\" \/><\/p>\n<h2>Maczko is reported to have earned nearly $600K in commissions by excessively trading an elderly client\u2019s account<\/h2>\n<p style=\"text-align: justify;\">After almost 30 years in the securities industry, Matthew Maczko\u2019s career is over. Earlier this month, the Financial Industry Regulatory Authority (FINRA) permanently barred him from acting as a broker due to allegations of churning.<\/p>\n<p style=\"text-align: justify;\">FINRA found that between January of 2009 and April of 2016, Maczko made excessive trades in four accounts of a customer, who was in her late 80s when he began. These accounts \u2013 which had a value of about $3 million \u2013 were controlled by Maczko, and during that time span earned him almost $600K in commissions. The client ended up paying another $84K in fees, and lost nearly $400K through Maczko\u2019s investments.It was also discovered that given his client\u2019s age, income needs, and risk tolerance, Maczko\u2019s level of trading was unsuitable, which would mean he acted contrary to the client\u2019s goals or financial situation, and thus primarily to enrich himself. Excessive trading \u2013 also known as churning \u2013 is just that: a way for a broker or firm to benefit while an investor potentially loses a lot of money in commissions and fees.<\/p>\n<div class=\"read_more_link\"><a href=\"https:\/\/www.silverlaw.com\/blog\/former-broker-matthew-maczko-has-been-barred-permanently-by-finra\/\"  title=\"Continue Reading Former Broker Matthew Maczko has been Barred Permanently by FINRA\" class=\"more-link\">Continue reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Maczko is reported to have earned nearly $600K in commissions by excessively trading an elderly client\u2019s account After almost 30 years in the securities industry, Matthew Maczko\u2019s career is over. Earlier this month, the Financial Industry Regulatory Authority (FINRA) permanently barred him from acting as a broker due to allegations of churning. FINRA found that [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1102],"tags":[9],"class_list":["post-634","post","type-post","status-publish","format-standard","hentry","category-blog","tag-finra"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Matthew Maczko : Elder Financial Fraud Alert<\/title>\n<meta name=\"description\" content=\"Maczko reportedly earned commissions by excessively trading an elderly client\u2019s account, resulting in a permanent bar from the securities industry.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.silverlaw.com\/blog\/former-broker-matthew-maczko-has-been-barred-permanently-by-finra\/\" 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minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.silverlaw.com\/blog\/former-broker-matthew-maczko-has-been-barred-permanently-by-finra\/#article","isPartOf":{"@id":"https:\/\/www.silverlaw.com\/blog\/former-broker-matthew-maczko-has-been-barred-permanently-by-finra\/"},"author":{"name":"Silver Law Group","@id":"https:\/\/www.silverlaw.com\/blog\/#\/schema\/person\/de64d999508b1ad10d608a99f0d2e752"},"headline":"Former Broker Matthew Maczko has been Barred Permanently by 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