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FINRA Bars Ex-Merrill Lynch Broker Zachary Wagner
Zachary Wagner (CRD# 6694074), formerly a broker and investment adviser in Gilbert, Arizona, was recently barred by the Financial Industry Regulatory Authority over allegations involving the potential misuse of customer funds and a potential undisclosed outside business activity.
According to a Letter of Acceptance, Waiver and Consent (No. 2018060065701) dated January 2020, Zachary Wagner was associated with Merrill Lynch as a General Securities Representative from December 2017 until September 2018, after which the firm disclosed his termination “for failing to provide accurate information during the pre-hire process.” He was subsequently associated as a General Securities Representative with ABC in March 2019, after which, in April 2019, the firm disclosed his termination over allegations he “had potentially used a client’s funds for personal use, and made misrepresentations about the client’s account.” FINRA subsequently initiated an investigation into allegations he potentially misused customer funds and his engagement in an undisclosed outside business activity. In connection with this investigation, FINRA sent him a request on September 17, 2019 to appear and provide on-the-record testimony to FINRA on October 8, 2019. He informed FINRA through counsel on September 23, 2019, that he had received FINRA’s request but “would not appear and provide testimony at any time.” FINRA states that this failure to appear and provide testimony violated FINRA Rules 8210 and 2010. As a result of the foregoing alleged conduct, he was barred from associating with any FINRA member firm.
Other disclosures on his BrokerCheck report include his March 2019 discharge from OneAmerica Securities. The allegations described by the firm state that he was “accused of multiple violations of the Securities Act of Arizona and the Arizona Investment Management Act.” He was specifically accused of “offering or selling securities within or from Arizona” without being registered as a salesperson. He was also accused of participating in “fraudulent activity” involving the use of a customer’s funds for personal purposes, and the provision of false documents regarding the customer’s account.
Zachary Wagner is currently not registered as a broker or investment adviser. His previous registrations include OneAmerica Securities, Merrill Lynch, and Wells Fargo Clearing Services, all in Gilbert, Arizona. He has passed four securities industry qualifying examinations and his BrokerCheck report lists zero state securities licenses. (Information current as of May 15, 2020.)