Category Archives: St. Bernard Financial Services

Louis Scherschel-Former Sigma Financial Corporation Broker-Discloses Customer Dispute and Termination-Chicago, IL

May 2017 – Chicago, IL

According to publicly available records Louis Scherschel  (CRD#5634741) ,  a  stockbroker currently registered with St. Bernard Financial Services, Inc.,  discloses a customer dispute and an employment separation.

The Financial Industry Regulatory Authority (FINRA) is the agency that licenses and regulates stockbrokers and brokerage firms. FINRA requires brokers and brokerage firms to report customer complaints and disputes as well as regulatory sanctions. In addition brokers are required to disclose certain financial matters such as personal bankruptcies, judgments and liens.

FINRA case #16-00222 was filed by a customer of Sigma Financial Corporation seeking damages of $500,000 and alleging inappropriately leveraged ETFs and failure to implement sell stops despite instructions to do so.  The case was settled in 8/2016 for $295,000.

Scherschel was discharged by Sigma Financial Corporation in 9/2015 who made the following allegations in connection with the discharge:  “failure to comply with firm’s correspondence policy.”

Scherschel had been employed  with Sigma Financial Corporation from May of 2013 to September of 2015.  He has since been employed with RBC Capital andProsperity Wealth Management, Inc. 

If you have questions about an account in an account handled by Louis Scherschel  contact us to discuss your legal options.

Rex Securities Law , with offices in Boca Raton, FL,  and  Austin, TX,   provides representation to  investors  nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.

Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

Michael Delao-Former Century Securities Broker-Sanctioned by Texas Securities Regulators

December 2016-Georgetown, Texas

The FINRA records of  Michael Ramon Delao,  a  stockbroker with St. Bernard Financial Services , disclose a recently regulatory event , a prior customer dispute and 2 terminations.

The Financial Industry Regulatory Authority (FINRA) is the agency that licenses and regulates stockbrokers and brokerage firms. FINRA requires brokers and brokerage firms to report customer complaints and disputes as well as regulatory sanctions. In addition brokers are required to disclose certain financial matters such as personal bankruptcies, judgments and liens.

According to FINRA records, while Delao was employed by  he was arrested in connection with two felony charges and was indicted. Although the felony charges were later dismissed, Delao did not report these events to Century or to the Texas State Securities Board (TSSB) as required by Board Rules. The TSSB reprimanded Delao and assessed an administrative fine of $7,500.

In 2009, Delao was discharged by Southwest Securities who made the following allegation: “Guaranteeing a client against losses in an email.” In 2015, Delao voluntarily resigned from Stifel Nicolaus & Company.

 

Delao has been employed with  since 10/2016. He was employed by IFS Securities from 8/2016-8/2016 and prior to that with Century Securities.

If you have questions about an account handled by Michael Delao , contact us for a no charge consultation.

Rex Securities Law , with offices in Boca Raton, FL,  and  Austin, TX,   provides representation to  investors  nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.

Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870