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.
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