Rodney Deleths Washington (also known as RD Washington), of New Albany, Ohio, a stockbroker formerly registered with UBS Financial Services Inc., has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon findings that he failed to cooperate with a FINRA investigation concerning accusations of his outside business activities during the time that he was employed by UBS Financial Services. Letter of Acceptance, Waiver, and Consent No. 2020066438301 (December 9, 2021).
According to the AWC, on April 8, 2021, FINRA was informed by UBS Financial Services that it terminated Washington’s registration as a stockbroker. The securities broker dealer alleged that Washington engaged in undisclosed outside business activities. FINRA launched an investigation into Washington for this reason.
On July 30, 2021, Washington was asked by FINRA to submit documents and information related to the allegations made by UBS Financial Services. Washington was expected to cooperate by August 13, 2021, but he failed to respond.
On August 24, 2021, a second request for Washington’s documents and information was made by FINRA. On September 2, 2021, Washington’s lawyer sent FINRA a letter confirming that Washington received the requests and would not comply. The AWC states that no documents or information have been provided by Washington in the investigation. FINRA determined that he violated FINRA Rules 2010 and 8210 by failing to comply.
FINRA Public Disclosure shows that Washington has been identified in three customer initiated investment related disputes containing accusations of his harmful activities while employed by securities broker dealers, including PaineWebber and UBS Financial Services. Washington is identified in a customer initiated investment related written complaint in which the customer requested $20,000.00 in damages supported by allegations of unauthorized trading.
Another customer filed an investment related complaint regarding Washington’s activities where the customer sought compensatory damages founded on accusations of Washington’s sales practice violations relating to over-the-counter equities transactions, resulting in damages. Washington is also referenced in a customer initiated investment related written complaint which was settled on July 14, 2016, to resolve allegations of Washington’s failure to follow the customer’s instructions at UBS Financial Services.
Washington was registered with UBS Financial Services between March 13, 1994, and April 8, 2021.
