Ricardo Francois, of New York, New York, a stockbroker formerly registered with Caldwell International Securities, has been permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he failed to respond to a FINRA information request. Letter No. 2015043464602 (October 30, 2015).
Prior to Francois’ permanent bar, on March 20, 2014, FINRA launched an investigation into whether Francois violated FINRA Rules 2111, 2020, 2010, 1122, NASD Rule 2310 and IM 2310-2, in addition to Securities Exchange Act of 1934 Section 10(b) and Rule 10b-5.
FINRA Public Disclosure also reveals that on April 8, 2015, a customer filed an investment related arbitration claim involving Francois’s conduct based upon allegations that Francois mismanaged the customer’s investment account, failed to execute upon the customer’s instructions, and provided faulty advice pertaining to triple leveraged exchange traded fund transactions.
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