John Michael Palombo Investigation
March 2022-Austin, TX
The FINRA records of John Michael Palombo , a former broker previously employed by Robert W. Baird & Co. , disclose a final regulatory matter .
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.
In 12/2021 in FINRA case 20-1175, Palombo sought over $2 million in damages from his former employer Merrill Lynch for discrimination , retaliation and hostile work environment. The Houston, TX, FINRA arbitration panel denied Palumbo’s claims entirely and found in favor of Merrill Lynch’s counter claims against Palombo for violation of Palumbo’s contractual agreements with Merrill Lynch before and after resigning from Merrill Lynch. The panel ordered Palombo to pay Merrill Lynch damages in excess of $1.4 million.
A FINRA investigation started in 11/2022, disclosed that Palombo failed to comply with that arbitration award or settlement agreement or to satisfactorily respond to a FINRA request to provide information concerning the status of compliance. Sanctions ordered were an indefinite suspension from FINRA in all capacities.
Palombo was employed by Merrill Lynch from 1/2008-12/2020 and with Robert W. Baird from 11/2020-11/2022.
If you have losses in an account handled by John Michael Palombo, call to learn how you may be entitled to collect damages through FINRA arbitration.
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.
Florida-561 391 1900