Close Menu
Free Consultation: 888-976-6111

Bruce Zaro: FINRA Suspended Bolton Global Capital Advisor

A disciplinary action taken by the Financial Industry Regulatory Authority against Providence, Rhode Island broker and investment advisor Bruce Zaro (CRD# 1271065) suspended him over allegations he signed a customer’s name without the customer’s knowledge or authorization. A representative of International Assets Advisory and former representative of Bolton Global Capital in Plymouth, Massachusetts, Zaro was suspended for 20 days and fined $5,000.

According to a Letter of Acceptance, Waiver and Consent (No. 2018057636001) dated January 2019, Bruce Zaro signed the name of a customer of his member firm, Bolton Global Capital, on an IRA distribution request in October 2017. FINRA’s findings state that this unauthorized signature resulted in a funds transfer from the IRA account to another account in the trust it had been established for, although the customer had requested the funds be transferred to other accounts. FINRA states that this transfer also resulted in “potential tax consequences for the accountholders,” and that Bolton Global Capital documented the distribution request in its books and records.

FINRA’s findings go on to state that the client in question became aware of the unauthorized signature “in or around December 2017” while conducting a review of her accounts. The customer then complained to Bolton Global Capital, which reversed the funds transfer and completed the distributions as requested by the client. According to FINRA, Zaro’s unauthorized signature constituted a violation of FINRA Rule 2010, which concerns standards of commercial honor and just and equitable principles of trade. FINRA also states that by submitting the distribution request to Bolton Global Capital “as an original,” he caused his member firm to maintain inaccurate books and records, in contravention of industry rules. As a result of the foregoing alleged conduct, Bruce Zaro was suspended from association with any FINRA member in any capacity for two months. He was also ordered to pay a fine of $5,000.

Bruce Zaro has been registered with International Assets Advisory in Providence, Rhode Island since 2018. His employment history includes Bolton Global Capital in Plymouth, Massachusetts, Gage-Wiley & Company, Liberty Securities Corporation, Fidelity Brokerage Services, and Dean Witter Reynolds. He currently holds eight state licenses and has passed five securities industry qualification examinations.

Facebook Twitter LinkedIn
Contact Us For A Free Case Evaluation
Latest Blog Posts
  • RBC Advisor Martin Klein: Complaints Allege $34 Million Losses

    Pending investor complaints against Newport Beach financial advisor Martin Klein (CRD# 1778613) allege that his investment advice resulted in damages...

    Read More
  • Kingswood Advisor Brady Fuchs Receives Oil & Gas Complaint

    San Diego financial advisor Brady Fuchs (CRD# 3203016) has received an investor complaint alleging that his conduct resulted in five-figure...

    Read More
  • Bill Sines: New Complaint Against Senior Financial Services Advisor

    Multiple investor complaints against Seminole, Florida financial advisor Bill Sines (CRD# 2190586) allege that he recommended unsuitable investments. Financial Industry...

    Read More
  • Jason Rossi: $203K Complaint Against Aegis Capital Broker

    Melville, New York financial advisor Jason Rossi (CRD# 4384426) allegedly churned investments and made unauthorized trades, according to a recent...

    Read More
  • Previous
  • Next