Gregory Harold Zastrow, of Plymouth, Wisconsin, a registered representative formerly associated with Bankers Life and Casualty Company, was fined $10,000.00 and suspended for nine months by the State of Wisconsin Office of the Commissioner of Insurance based upon consenting to findings that he engaged in unfair marketing practices concerning fixed annuities and life insurance products, wherein he made misrepresentations concerning the replacements of insurance policies and effected transactions which were not suitable for customers. Case No. 14-C40352 / 0S-31847 (Nov. 30, 2015). According to the Order, Zastrow’s conduct was found by the Wisconsin Office of the Commissioner of Insurance to be violative of Wis. Stats. 628.34(1) and 628.347, as well as Ins. 2.16(6) and 2.07.
Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that Zastrow has been identified in four customer initiated investment related disputes containing allegations of his misconduct while employed with Axa Advisors, LLC and MetLife Securities Inc. Specifically, on October 5, 2007, a customer filed an investment related written complaint involving Zastrow’s conduct, based upon allegations that Zastrow misstated the amount of premium payments the customer was required to make to keep the policy in force.
Subsequently, on June 14, 2010, a customer initiated investment related written complaint regarding
Zastrow’s activities was resolved for $35,214.00 in damages based upon allegations that Zastrow made unsuitable investment recommendations to the customer concerning the purchases of variable life insurance products. Further, on March 17, 2015, a customer filed an investment related written complaint involving
Zastrow’s conduct, based upon allegations that Zastrow effected a variable life insurance contract that was not suitable for the customer.
Since March 31, 2015, Zastrow has been registered with Accelerated Capital Group.
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