Did you lose money investing with Bruce Zaro (CRD# 1271065)?
Galvin Legal, PLLC is launching an investigation on behalf of investors who may have suffered losses investing with Bruce Zaro. If you suffered losses investing with Bruce Zaro, then Galvin Legal, PLLC may be able to help you recover your losses in a Financial Industry Regulatory Authority (“FINRA“) arbitration claim.
If you suffered losses and would like a free consultation with a securities attorney, then please call Galvin Legal, PLLC at 1-800-405-5117.
As of October 10, 2020, Bruce Zaro’s FINRA BrokerCheck Report contains the following:
Disclosure Events
1 Customer Dispute(s)
1 Regulatory Event(s)
See FINRA Letter of Acceptance, Waiver and Consent No. 2018057636001
1 Employment Separation After Allegations
UPDATE 10/08/2020: According to FINRA’s March 2019 Disciplinary Actions: “Bruce Anthony Zaro (CRD #1271065, Hingham, Massachusetts) January 22, 2019 – An AWC was issued in which Zaro was fined $5,000 and suspended from association with any FINRA member in all capacities for two months. Without admitting or denying the findings, Zaro consented to the sanctions and to the entry of findings that he signed his customer’s name on an IRA/Education Savings Account distribution request associated with an IRA established for the benefit of a living trust, without the customer’s prior knowledge or authorization. The findings stated that the unauthorized signature caused the transfer of funds from the IRA account to another of the trust’s accounts, instead of to the accounts requested by the customer, and caused potential tax consequences for the accountholders. The customer discovered the unauthorized signature on the distribution request and complained to Zaro’s member firm, which was able to reverse the transfer and effect the requested distributions prior to the customer incurring any negative tax consequences. The findings also stated that by engaging in this conduct and submitting the distribution request to the firm as an original, Zaro caused the firm to maintain inaccurate books and records. The suspension is in effect from February 19, 2019, through April 18, 2019. (FINRA Case #2018057636001)
Current and Previous Registrations
01/31/2018 – PRESENT INTERNATIONAL ASSETS ADVISORY, LLC (CRD#:10645) PROVIDENCE, RI
05/16/2002 – 03/01/2018 BOLTON GLOBAL CAPITAL (CRD#:15650) PLYMOUTH, MA
10/04/1990 – 05/15/2002 GAGE-WILEY & CO., INC. (CRD#:344) NORTHAMPTON, MA
08/17/1987 – 10/16/1990 LIBERTY SECURITIES CORPORATION (CRD#:14416) PURCHASE, NY
02/12/1987 – 08/11/1987 FIDELITY BROKERAGE SERVICES, INC. (CRD#:7784)
06/21/1984 – 12/27/1985 DEAN WITTER REYNOLDS INC. (CRD#:7556)
If you suffered losses and would like a free consultation with a securities attorney, then please call Galvin Legal, PLLC at 1-800-405-5117.
Due Diligence Requirement
FINRA requires broker’s to conduct due diligence on investments and to conduct a suitability analysis when recommending securities to a customer that takes into account the customer’s knowledge and experience. FINRA Rule 2111(a) states that “a member or an associated person must have a reasonable basis to believe that a recommended transaction or investment strategy involving a security or securities is suitable for the customer, based on the information obtained through the reasonable diligence of the member or associated person to ascertain the customer’s investment profile. A customer’s investment profile includes, but is not limited to, the customer’s age, other investments, financial situation and needs, tax status, investment objectives, investment experience, investment time horizon, liquidity needs, risk tolerance, and any other information the customer may disclose to the member or associated person in connection with such recommendation.”
Rule 2111 is composed of three main obligations: reasonable-basis suitability, customer-specific suitability, and quantitative suitability. Brokers and the brokerage firms they work for that fail to conduct adequate due diligence on investments they recommend or that make unsuitable recommendations can be held responsible for the customer’s losses in a FINRA arbitration claim.
If you suffered losses and would like a free consultation with a securities attorney, then please call Galvin Legal, PLLC at 1-800-405-5117.
Request a Free Consultation with a Securities Attorney
If you suffered losses investing with Bruce Zaro and would like a free consultation with a securities attorney, then please call Galvin Legal, PLLC at 1-800-405-5117.
This information is all publicly available and is being provided to you by Galvin Legal, PLLC.
Galvin Legal, PLLC is a national securities arbitration, securities mediation, securities litigation, securities fraud, securities regulation and compliance, and investor protection law practice. For more information on Galvin Legal, PLLC and its representation of investors, please visit www.galvinlegal.com or call 1-800-405-5117.
