Gabriel Ruiz of Roseland, New Jersey, a stockbroker registered with ADP Broker-Dealer Inc., has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity because Ruiz failed to comply with FINRA’s request for information and documents in an investigation. Letter of Acceptance, Waiver, and Consent No. 2023077701101 (April 18, 2024).
According to the AWC, FINRA’s disciplinary action stems from a Uniform Termination Notice for Securities Industry Registration (Form U5) filed by ADP Broker-Dealer Inc. This Form U5, filed on January 24, 2023, cited the stockbroker’s violations of company policy. These violations included using a personal email for professional communications, issuing a non-ADP invoice, and requesting confidential login credentials from a customer, all actions contrary to the company’s policies on conflicts of interest and fair dealing. Ruiz’s actions led to a customer inquiry, which prompted an internal investigation by ADP Inc., ultimately resulting in Ruiz’s termination from both ADP Inc. and ADP Broker-Dealer Inc.
On January 31, 2024, FINRA issued a request for documents and information under Rule 8210, which requires stockbroker cooperation with investigations. Ruiz, through his lawyer, communicated to FINRA on March 25, 2024, his decision not to produce the requested information or documents or otherwise cooperate with FINRA’s investigation. Therefore, Ruiz violated FINRA Rules 8210 and 2010.
Ruiz was associated with ADP Broker-Dealer Inc. in Roseland, New Jersey from December 20, 2021, to January 24, 2023.
