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Matthew Zanowiak Fined By FINRA Following Allegations of Unauthorized Trades

Aug 4, 2021 AWC

Matthew Zanowiak (CRD #: 1142281), a broker registered with Cadaret, Grant & Co, is the subject of a FINRA suspension and fine, according to his BrokerCheck record, accessed on July 23, 2021. Investors may have engaged Zanowiak’s advisory services through First Pointe Financial Services.

On June 7, 2021, Matthew Zanowiak entered into an Acceptance, Waiver, and Consent agreement (AWC) in which he consented to the findings that he executed unauthorized trades.

Brokers are not allowed to exercise discretion – i.e., execute trades at will – unless the investors provided written authorization and the firm has accepted the account for discretionary trading. FINRA alleges that in April 2019, Zanowiak executed approximately 52 discretionary trades in 15 investor accounts. Cadaret Grant allegedly did not approve any of these accounts for discretionary trading.

As part of the terms of the AWC, Matthew Zanowiak consented to a $5,000 fine and a 10-day suspension. You can read a copy of the AWC here.

There is also a settled investor dispute on Zanowiak’s record. On March 2, 2010, an investor alleged Matthew Zanowiak incorrectly stated that a market value adjustment would not be assessed for an asset transfer. The investor sought $14,891 and the dispute settled for that exact amount.

Matthew Zanowiak Background Information

Zanowiak has passed the following exams:

  • Series 65 Uniform Investment Adviser Law Examination
  • Series 63 Uniform Securities Agent State Law Examination
  • Securities Industry Essentials Examination
  • Series 22 Direct Participation Programs Representative Examination
  • Series 6 Investment Company Products/ Variable Contracts Representative Examination
  • Series 26 Investment Company Products/ Variable Contracts Principal Examination

He is a registered broker in six states and is a registered investment adviser in Pennsylvania.

Zanowiak has worked for the following firms:

  • Cadaret, Grant & Co. (CRD #: 10641)
  • Park Avenue Securities (CRD #: 46173)
  • Guardian Investor Services Corporation (CRD #: 6635)
  • John Hancock Mutual Life Insurance Company (CRD #: 5181)
  • John Hancock Distributors (CRD #: 468)

Kurta Law Can Help

If you worked with Matthew Zanowiak and you have concerns about your investments, contact Kurta Law today. Call 212-658-1502 or email jkurta@kurtalawfirm.com.