Rene Francisco Palacios (CRD # 3188994, Registered Representative, Cabo Rojo, Puerto Rico) was barred from association with any FINRA member in any capacity. The sanction was based on findings that 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 forged the customer’s signature on new account documents and checks drawn from the fraudulent account. The findings stated that Palacios admitted to his firm that he misused the customer’s funds and forged the customer’s signature. The findings also stated that Palacios failed to appear for FINRA on-the-record interviews. (FINRA Case # 2007011375301)

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