Ricardo Rodriguez-Stern of New York New York is a former J.P. Morgan Securities LLC stockbroker who has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity according to an Office of Hearing Officers Default Decision containing findings that Rodriguez-Stern neglected to cooperate in a FINRA investigation into his customer complaints. Department of Enforcement v. Ricardo Rodriguez-Stern Disciplinary Proceeding No. 2016048870601 (Feb. 5 2018).
According to the Decision, on January 29, 2016, Rodriguez-Stern was terminated by J.P. Morgan Securities LLC, where the firm notified FINRA that its decision was based upon Rodriguez-Stern gaining unauthorized access to a customer’s account. Once FINRA launched an investigation into Rodriguez-Stern’s activities, it discovered that he was subject of ten civil judgments and tax liens as well as twelve customer complaints.
The Decision stated that on May 24, 2017, FINRA sought further information from Rodriguez-Stern about those judgments and complaints, wherein Rodriguez-Stern was asked to provide information to FINRA by June 7, 2017. Apparently, Rodriguez-Stern neglected to respond. Subsequently, Rodriguez-Stern was sent another letter from FINRA, in which Rodriguez-Stern was asked to provide FINRA with a response by June 23, 2017. Rodriguez-Stern again failed to respond to FINRA.
FINRA then filed a Complaint against Rodriguez-Stern, alleging that his conduct was violative of FINRA Rules 2010 and 8210. Evidently, Rodriguez-Stern never submitted an Answer to the Complaint despite having been served with the Complaint as well as two Notices of Complaint. FINRA’s Office of Hearing Officers ultimately found Rodriguez-Stern to have defaulted on the Complaint and barred him for having obstructed FINRA’s investigation.
FINRA Public Disclosure confirms that Rodriguez-Stern has been identified in two customer initiated investment related disputes pertaining to allegations of his misconduct while employed with J.P. Morgan Securities LLC. Particularly, on March 25, 2015, a customer initiated investment related written complaint involving Rodriguez-Stern’s conduct was settled to resolve accusations that inappropriate mutual fund recommendations were made to the customer. Then, on January 20, 2016, a customer filed an investment related written complaint regarding Rodriguez-Stern’s activities, where the customer sought $9,264.99 in damages supported by allegations that mutual fund transactions were effected in the customer’s account that were not suitable for the customer.
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