Feb 16

Regulators bar former Wells Fargo Advisors rep

A former broker with Wells Fargo Advisors in Oak Brook,Illinois, has been barred from the securities industry for allegedly “churning” the accounts of a 93-year-old woman and lying to regulators about it. The Financial Industry Regulatory Authority said Matthew Maczko earned commissions of $581,650 and another $84,270 in fees from four accounts worth $3 million, according to the agency’s letter of acceptance, waiver and consent. Maczko had executed over 2,800 transactions in the four accounts from…

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