Securities Lawyers Blog
According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Michael Miro (Miro), previously associated with Bmo Capital Markets Corp., has at least one disclosable event. These events include one tax lien, alleging that Miro recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.
FINRA BrokerCheck shows a final customer complaint on February 27, 2025.
Without admitting or denying the findings, Miro consented to the sanctions and to the entry of findings that he engaged in an OBA without providing prior written notice to his member firm. The findings stated that prior to registering with the firm, Miro began consulting on a full-time basis for a financial technology provider. Under his consulting contract, Miro agreed to provide approximately 40 hours of operational support each week to assist the financial technology provider with a trading data migration project. In April 2022, Miro registered with his firm and continued to provide full-time operational support to the financial technology provider until at least May 2023. Between April 2022 and May 2023, Miro received at least $160,000 in compensation for his consulting services to the financial technology provider. Miro did not notify or seek approval from his firm before engaging in these activities in exchange for compensation. Rather, in his April 2022 onboarding questionnaire, Miro falsely stated that he was not “currently engaged in any other business,” and in an annual firm compliance certification, Miro falsely attested that he was not engaged in any undisclosed OBAs.
