Marc Zaro: Suspended By FINRA Following Allegations of Misuse of Private Investor Information
Marc Zaro (CRD #: 6613514), a broker formerly registered with Invicta Capital, has been suspended by FINRA, according to his BrokerCheck record, accessed on September 2, 2021. Investors may have encountered Marc Zaro through his role at GM Capital Private Wealth.
On August 2, 2021, Marc Zaro consented to FINRA’s findings that he improperly removed nonpublic information regarding certain investors and retained the files without the consent of his firm. According to FINRA, he did this after the firm had terminated his employment. FINRA alleges that Marc Zaro gained access to the office during non-business hours with the help of a co-worker. He proceeded to fill a duffel bag with opening forms, account statements, and other nonpublic information. Marc Zaro allegedly used the nonpublic information to contact his former clients regarding their investments. He returned the information via a non-affiliated, third party. Investors were not given the opportunity to opt-out of having their information disclosed to this third party.
As part of the Acceptance, Waiver, and Consent (AWC) agreement with FINRA, Marc Zaro consented to a $5,000 fine and a one-month suspension.
You can read a copy of the AWC here.
Merrill Lynch, Pierce, Fenner & Smith Incorporated fired Marc Zaro on October 28, 2019. This followed allegations that Marc Zaro sent confidential information to a personal email address.
Marc Zaro Background Information
Marc Zaro has passed the following exams:
- Series 66 Uniform Combined State Law Examination
- Securities Industry Essentials Examination
- Series 7 General Securities Representative Examination
Marc Zaro has worked with the following firms:
- Invicta Capital (CRD #: 288101)
- Emerson Equity (CRD #: 130032)
- Merrill Lynch, Pierce, Fenner & Smith (CRD #: 7691)
- AXA Advisors (CRD #: 6627)
Kurta Law Can Help
If you worked with Marc Zaro and you have concerns about your investments, contact Kurta Law today. Call 877-600-0098 or email firstname.lastname@example.org.