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Michael Kazacos Fired from Wells Fargo Clearing Services

Nov 3, 2022 Unauthorized Trading

Michael Kazacos (CRD #: 2823410), a broker registered with Stifel, Nicolaus & Company, was fired from his previous firm, according to his BrokerCheck record, accessed on October 29, 2022. Keep reading if you have questions about his conduct as a broker.

Termination from Wells Fargo Clearing Services

On August 31, 2022, Michael Kazacos was fired from Wells Fargo Clearing Services after allegedly placing trades in a client’s account without prior client authorization, and falsely noting in an electronic record that he had spoken to the client.

FINRA Rule 2010

FINRA Rule 2010 holds brokers to high standards of commercial honor and just and equitable principles of trade.

FINRA Rule 3260

FINRA Rule 3260 prohibits brokers from executing discretionary trades outside discretionary accounts, pre-authorized for discretionary trading by the firm and client.

Background Information

Michael Kazacos has passed the following exams:

  • Series 65 – Uniform Investment Adviser Law Examination
  • Series 63 – Uniform Securities Agent State Law Examination
  • SIE – Securities Industry Essentials Examination
  • Series 31 – Futures Managed Funds Examination
  • Series 7 – General Securities Representative Examination

Michael Kazacos is a registered broker in eight states and a registered investment adviser in New York.

He has also worked for the following firms:

  • Wells Fargo Clearing Services (CRD#:19616)
  • Morgan Stanley Smith Barney (CRD#:149777)
  • Morgan Stanley & Company (CRD#:8209)
  • Morgan Stanley DW (CRD#:7556)

Kurta Law Can Help

If you worked with Michael Kazacos and you have concerns about your investments, please contact us today at 877-600-0098 or for a free consultation.

For over 20 years, Kurta Law has advocated on behalf of investors who want to recover their investment losses from brokers and brokerage firms. Kurta Law is a nationally recognized law firm and exclusively represents investors against brokers and brokerage firms on a contingency basis. This means that the firm only earns a fee if our securities attorneys recover money on your behalf.