{"id":11103,"date":"2023-07-21T12:28:07","date_gmt":"2023-07-21T16:28:07","guid":{"rendered":"https:\/\/www.silverlaw.com\/blog\/?p=11103"},"modified":"2023-07-21T12:28:07","modified_gmt":"2023-07-21T16:28:07","slug":"finra-bars-broker-michael-raineri-after-converting-customer-funds","status":"publish","type":"post","link":"https:\/\/www.silverlaw.com\/blog\/finra-bars-broker-michael-raineri-after-converting-customer-funds\/","title":{"rendered":"FINRA Bars Broker Michael Raineri After Converting Customer Funds"},"content":{"rendered":"<p><img loading=\"lazy\" decoding=\"async\" class=\"alignleft wp-image-11104 size-full\" src=\"https:\/\/www.silverlaw.com\/blog\/wp-content\/uploads\/2023\/07\/Blog-Graphics2.png\" alt=\"Michael Raineri (Michael Patrick Raineri CRD# 4817558) is a former broker and investment advisor whose last employer was Securities America, Inc. (CRD# 10205) of Seattle, WA. His previous employers were KMS Financial Services, Inc. (CRD# 3866), Cetera Advisors LLC (CRD# 10299) and Pacific West Securities, Inc. (CRD# 6390), all of Seattle. He has been in the industry since 2006.\n\nOn 1\/31\/2023, a customer filed a dispute claiming that Raineri transferred $135,000 into his own personal account without the customer\u2019s consent. This claim is currently listed as \u201cpending.\u201d\n\nSecurities America Inc. (SAI) discharged Raineri on 4\/6\/2023, with the reasons for termination as: \u201cThe Financial Professional failed to follow firm policies, including being named as POA for customers' bank accounts and engaging in financial transactions with a customer for payment processing for personal services customer received from third parties without prior request or approval by the Firm.\u201d\u00a0\" width=\"300\" height=\"200\" srcset=\"https:\/\/www.silverlaw.com\/blog\/wp-content\/uploads\/2023\/07\/Blog-Graphics2.png 300w, https:\/\/www.silverlaw.com\/blog\/wp-content\/uploads\/2023\/07\/Blog-Graphics2-180x120.png 180w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/>Michael Raineri (Michael Patrick Raineri CRD# <a href=\"https:\/\/brokercheck.finra.org\/individual\/summary\/4817558\" target=\"_blank\">4817558<\/a>) is a former broker and investment advisor whose last employer was Securities America, Inc. (CRD# 10205) of Seattle, WA. His previous employers were KMS Financial Services, Inc. (CRD# 3866), Cetera Advisors LLC (CRD# 10299) and Pacific West Securities, Inc. (CRD# 6390), all of Seattle. He has been in the industry since 2006. <a href=\"https:\/\/www.silverlaw.com\/blog\/finra-bars-broker-michael-raineri-after-converting-customer-funds\/#more-11103\" class=\"more-link\">Continue reading \u203a<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Michael Raineri (Michael Patrick Raineri CRD# 4817558) is a former broker and investment advisor whose last employer was Securities America, Inc. (CRD# 10205) of Seattle, WA. His previous employers were KMS Financial Services, Inc. (CRD# 3866), Cetera Advisors LLC (CRD# 10299) and Pacific West Securities, Inc. (CRD# 6390), all of Seattle. He has been in [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-11103","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>FINRA Bars Michael Raineri After Converting Customer Funds<\/title>\n<meta name=\"description\" content=\"Michael Raineri is a former broker and investment advisor whose last employer was Securities America, Inc. of Seattle, WA.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.silverlaw.com\/blog\/finra-bars-broker-michael-raineri-after-converting-customer-funds\/\" \/>\n<meta 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