Pierre Michael Hilario of Milpitas, California, a stockbroker registered with NI Advisors, has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity because Hilario refused to comply with FINRA’s investigation into his involvement in private placement offerings. Letter of Acceptance, Waiver, and Consent No. 2020066757801 (August 17, 2023).
According to the AWC, In connection with its investigation into certain private placement offerings, FINRA sent a request to Hilario on June 28, 2023, for information and documents. Following this, on August 11, 2023, FINRA requested for the stockbroker to make an appearance and testimony before FINRA personnel. However, as confirmed by Hilario’s email to FINRA on August 17, 2023, he acknowledged receiving FINRA’s requests but declined to appear for testimony or produce information and documents that were sought by the regulator.
By refusing to cooperate in the investigation, Hilario violated FINRA Rules 8210 and 2010.
Hilario was associated with NI Advisors in Milpitas, California from March 12, 2022, to August 2, 2023; SW Financial in Melville, New York from September 20, 2018, to May 26, 2022; and Democracy Funding LLC in New York, New York from January 25, 2017, to April 17, 2018.