William J Michero (CRD #4617645) Has Regulatory, Customer Dispute, Employment Separation, and Judgment/Lien Disclosures on FINRA BrokerCheck

William J Michero (CRD #4617645) was previously registered as a broker. We reviewed his BrokerCheck report on April 16, 2026. It reflects one regulatory event, one customer dispute, one employment separation, and one judgment/lien disclosure. If you invested with William J Michero and have concerns, keep reading.

BrokerCheck link: BrokerCheck

BrokerCheck report: BrokerCheck Report (PDF)

Regulatory Action(s)

William Michero’s FINRA BrokerCheck Report reflects one regulatory action. A summary of the disclosure is below:

On September 10, 2021, FINRA barred William Michero from associating with any FINRA member in all capacities. William Michero’s FINRA BrokerCheck report states that, while serving as trustee for a senior beneficiary’s accounts at other financial institutions, he converted more than $263,000 from those accounts between April 2018 and February 9, 2021. BrokerCheck says he transferred at least $263,286.40 to his own account without authorization and used the funds for personal expenses. AWC link.

Employment Separation

William Michero’s FINRA BrokerCheck Report reflects one employment separation disclosure. A summary of the disclosure is below:

On August 12, 2021, Cambridge Investment Research, Inc. discharged William Michero. William Michero’s FINRA BrokerCheck report states the allegation was that he misappropriated trust funds through his outside activity as a trustee.

Investor Disputes / Customer Complaints

William Michero’s FINRA BrokerCheck Report reflects one customer dispute disclosure. A summary of the dispute is below:

On February 12, 2026, a customer alleged William Michero transferred client trust funds into his own accounts, used the money for personal expenses, and took improper trustee fees. The customer sought $775,000 in damages. William Michero’s FINRA BrokerCheck report lists the matter as pending with FINRA under case number 26-00241.

Judgment / Lien

William Michero’s FINRA BrokerCheck Report reflects one judgment/lien disclosure. A summary of the disclosure is below:

On April 28, 2021, William Michero disclosed a tax lien for $56,905.37. William Michero’s FINRA BrokerCheck report lists the Internal Revenue Service as the lien holder. BrokerCheck also states the lien remains outstanding.

Rule Summary #1: FINRA Rule 2150 (Improper Use of Customers’ Securities or Funds)

FINRA Rule 2150 bars associated persons from making improper use of a customer’s funds. A disclosure involving unauthorized transfers from trust accounts can raise concerns under that rule.

Rule Summary #2: FINRA Rule 3270 (Outside Business Activities of Registered Persons)

FINRA Rule 3270 requires notice to a member firm before a registered person engages in certain outside business activities. A trustee role outside the firm can create supervision and compliance issues when that activity overlaps with client-related conduct.

Why This Matters to Investors (Regulation Best Interest)

Regulation Best Interest (Reg BI) is a U.S. securities regulation. It strengthens the standard of conduct that broker-dealers owe to retail investors. It applies when they recommend securities transactions or investment strategies. The U.S. Securities and Exchange Commission adopted Reg BI. It became effective on June 30, 2020. Reg BI aims to protect investors while preserving access to brokerage products and services.

Reg BI requires broker-dealers and financial advisors to act in a retail customer’s best interest at the time of a recommendation. They must not place their own financial or other interests ahead of the customer’s. This standard is higher than the older “suitability” rule. Suitability meant a recommendation only had to be appropriate. It did not have to be the best option or free of conflicts.

Reg BI has four key obligations:

Disclosure Obligation – Broker-dealers must disclose material facts about the relationship and the recommendation. This includes fees, the scope of services, and conflicts of interest.

Care Obligation – Broker-dealers must use reasonable diligence, care, and skill. They must consider costs, risks, and alternatives when making a recommendation.

Conflict of Interest Obligation – Firms must identify conflicts of interest. They must disclose them and mitigate or eliminate them. This includes conflicts that create incentives to favor one product over another.

Compliance Obligation – Firms must maintain policies and procedures. Those policies should be designed to ensure compliance with Reg BI as a whole.

Reg BI applies to each recommendation. It is not a continuous duty like the fiduciary standard for registered investment advisers. Even so, it narrows the gap. It puts more focus on costs, conflicts, and investor-focused decision-making.

Overall, Regulation Best Interest promotes transparency. It also aims to improve the quality of investment recommendations. It is designed to reinforce trust between retail investors and broker-dealers in the U.S. securities markets.

Background Information (from BrokerCheck)

Based on his FINRA BrokerCheck report, William Michero:

Is not currently registered as a broker.

Has passed the Securities Industry Essentials (SIE) exam and the Series 7 exam. He has also passed the Series 66 exam.

Was previously registered with firms that include Cambridge Investment Research, Inc., Merrill Lynch, Pierce, Fenner & Smith Incorporated, and Banc of America Investment Services, Inc.

Kurta Law Can Help

If you have worked with William Michero and you have concerns about his activity, Kurta Law may be able to help you evaluate your legal options. A securities attorney can help you assess potential causes of action and determine whether your losses may be recoverable through FINRA arbitration or other avenues. To speak with Kurta Law, call 877-600-0098 or email info@kurtalawfirm.com.

Helpful resources: Securities Attorney | Security Fraud

For nearly 20 years, Kurta Law has advocated for investors and helped hold financial professionals accountable. The firm represents clients nationwide in securities arbitration and related disputes. If you believe a broker or firm mishandled your account, an attorney can review the facts and explain possible next steps.