Ronnie Rindon Dumag (also known as Ronnie R. Dumag), of Sacramento, California, a stockbroker registered with PFS Investments Inc., has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity because Dumag refused to comply with FINRA investigators in connection with its inquiry into his potential conversion of funds from an elderly customer. Letter of Acceptance, Waiver, and Consent No. 2024081781101 (June 13, 2024).
On May 22, 2024, PFS Investments Inc. permitted Dumag to resign based upon allegations that Dumag borrowed from a securities customer. According to the securities broker dealer, he admitted to the existence of the customer loan.
The AWC stated that on February 16, 2024, FINRA requested Dumag to provide documents and information so that it could assess his conduct with the elderly customer. On May 28, 2024, Dumag informed FINRA that he received the request but would not provide the documents or information at any point. Therefore, Dumag violated FINRA Rules 2010 and 8210.
Dumag was associated with PFS Investments Inc. in Sacramento, California from August 16, 2004, to May 22, 2024.
