NOTE: Stipulations of Fact and Consent to Penalty (SFC); Offers of Settlement (OS); and Letters of Acceptance Waiver, and Consent (AWC) are entered into by Respondents without admitting or denying the allegations, but consent is given to the described sanctions & to the entry of findings. Additionally, for AWCs, if FINRA has reason to believe a violation has occurred and the member or associated person does not dispute the violation, FINRA may prepare and request that the member or associated person execute a letter accepting a finding of violation, consenting to the imposition of sanctions, and agreeing to waive such member's or associated person's right to a hearing before a hearing panel, and any right of appeal to the National Adjudicatory Council, the SEC, and the courts, or to otherwise challenge the validity of the letter, if the letter is accepted. The letter shall describe the act or practice engaged in or omitted, the rule, regulation, or statutory provision violated, and the sanction or sanctions to be imposed.

Rene Francisco Palacios
2007011375301

Palacios misused $62,750 in customer’s funds by opening a new bank account in a customer’s name, funding the new account with a deposit of $62,750 from the customer’s brokerage account maintained at Palacios’member firm , and forging the customer’s signature on new account documents and checks drawn from the fraudulent account. Palacios admitted to his firm that he misused the customer’s funds and forged the customer’s signature. Palacios failed to appear for FINRA on-the-record interviews.

Rene Francisco Palacios: Barred

Tags: Forgery