Michael John Smeriglio III Allegedly Misappropriated Customer Funds, Barred for Reported Opposition to FINRA Investigation

Investment fraud lawyersOn November 3, 2014, Michael John Smeriglio III and FINRA entered into a Letter of Acceptance, Waiver and Consent (AWC), in conjunction with Smeriglio’s alleged failure to provide documents and information requested by FINRA staff in August of 2014, reportedly in violation of FINRA Rules.

On August 1, 2014, during the trajectory of an investigation into allegations that Smeriglio converted customer funds from the customer’s Estate and Trust, FINRA’s Office of Fraud, Detection and Market Intelligence sent a letter to Smeriglio, pursuant to a FINRA Rule which requests documents and information.

Smeriglio’s response was originally due by August 11, 2014, but was extended by a generous agreement with Smeriglio’s counsel to August 15, 2014.

Smeriglio allegedly did not respond to the FINRA’s original request, and, on August 19, 2014, FINRA staff sent Smeriglio a second request for the documents originally requested in the August 1, 2014 letter.

On or about August 29, 2014, counsel for Smeriglio allegedly notified FINRA that Smeriglio would not be providing the documents and information requested in the letter dated August 1, 2014. To date, Smeriglio has allegedly not provided FINRA with any documents or information.

FINRA Rules require that persons associated with a FINRA member to “provide information orally, in writing, or electronically…with respect to any matter involved in the investigation” and also that all members “in the conduct of its business, shall observe high standards of commercial honor and just and equitable principles of trade.”

Smeriglio allegedly failed to provide the documents and information that were requested pursuant to the August 1, 2014 and August 19, 2014 letters, and thus Smeriglio violated FINRA Rules.

Investment Rights Lawyers Investigating

The Peiffer Rosca Wolf investment rights lawyers often represent investors who lose money as a result of investment misconduct, and are assisting any victims with the recovery of losses they may have suffered. They take most cases of this type on a contingency fee basis and advance the case costs, and only get paid for their fees and costs out of money they recover for their clients.

Investors who believe they lost money as a result of investment misconduct may contact the investment rights lawyers at Peiffer Rosca Wolf, Alan Rosca or Joe Peiffer, for a free, no-obligation evaluation of their recovery options, at 888-998-0520.

Broker: Michael John Smeriglio

Status: INVESTIGATED by Peiffer Rosca.

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Alan Rosca (1174 Posts)

Alan is a securities lawyer. He also teaches Securities Regulation at the Cleveland-Marshall College of Law. He focuses his legal practice on complex commercial and financial litigation and arbitration, particularly in the areas of securities and investment fraud. His office is in Cleveland, Ohio.


In our legal system, every person is innocent until and unless found guilty by a court of law or a tribunal. Whenever we reference “allegations” or charges that are “alleged,” such allegations or charges have not been proven, and are merely accusations, not findings of fault, as of the date of the blog. We do not have, nor do we undertake, a duty to continue to monitor or follow cases about which we report, and/or to publish subsequent blogs regarding various developments that may occur in such cases. Readers are encouraged to conduct their own research regarding any such cases and any developments that may or may not have occurred in such cases.