Soreide Law Group obtained the following information on FINRA’s website under, “Disciplinary and Other FINRA Actions, September 2020.”
LEONARD JOSEPH MARZOCCO (Also known as: LEN MARZOCCO JR, LENNY MARZOCCO JR, LEONARD JOSEPH MARZOCCO III, LEONARD JOSEPH MARZOCCO JR) (CRD #3106494, Nesconset, New York)
On July 1, 2020 an Acceptance, Waiver, and Consent (AWC) was issued by FINRA in which LEONARD JOSEPH MARZOCCO was suspended from association with any FINRA member in all capacities for 11 months. Due to Marzocco’s financial status, no monetary sanction has been imposed.
Without admitting or denying FINRA’s findings, LEONARD JOSEPH MARZOCCOconsented to the sanction and to the entry of findings that he allegedly excessively traded client accounts.
FINRA’s findings stated that LEONARD JOSEPH MARZOCCO engaged in unsuitable trading in client accounts that resulted in high turnover rates and cost-to-equity ratios and significant losses. The clients suffered collective losses of $196,331 and paid $81,523 in commissions and fees.
According to the FINRA report, LEONARD JOSEPH MARZOCCO also is alleged to have made recommendations for a significant number of trades using margin in the client accounts, even though he was allegedly aware that the client’s financial circumstances made it unsuitable for him.
The suspension is in effect from July 6, 2020, through June 5, 2021. (FINRA Case #2017052466304)
According to FINRA’s BrokerCheck, LEONARD JOSEPH MARZOCCO, has 11 Disclosures on his CRD report. Seven of the Disclosures are “Customer Disputes.” Of the Customer Disputes that have settled some of the allegations were, “Unsuitability, churning & commission abuse, fraud & misrepresentation, and breach of fiduciary duty.” Marzocco has had 10 years of experience in the securities industry and was listed with 8 firms. He is currently not listed.
The following are the most recent firms Marzocco was listed with:
06/21/2019 – 12/10/2019 WOODSTOCK FINANCIAL GROUP, INC – Nesconset, NY
06/20/2017 – 07/16/2019 FIRST STANDARD FINANCIAL COMPANY LLC – Miller Place, NY
01/30/2017 – 07/19/2017 SPARTAN CAPITAL SECURITIES, LLC – Garden City, NY
10/23/2015 – 03/02/2017 FIRST STANDARD FINANCIAL COMPANY – Garden City, NY
09/10/2014 – 10/16/2015 ROCKWELL GLOBAL CAPITAL LLC – Melville, NY
If you or a loved one experienced investment losses due to the actions or recommendations of broker, LEONARD JOSEPH MARZOCCO, contact Soreide Law Group at no cost and speak to a lawyer regarding the possible recovery of your financial losses through a FINRA arbitration at: 888-760-6552.
Soreide Law Group represents clients nationally before FINRA. We work on a contingency fee basis–no fee if no recovery.