Carlos Antonio Rodriguez of Plano Texas a stockbroker formerly registered with UBS Financial Services Inc. is the subject of a customer initiated investment related arbitration claim where the customer sought more than $3,600,000.00 in damages founded on allegations that (1) the customer had been placed into oil and gas master limited partnerships and mutual funds in addition to options and equities products that were neither suitable nor authorized by the customer and (2) unsuitable investment recommendations had been made to the customer concerning investments Rodriguez supposedly effected outside UBS Financial Services’ auspices between 2009 and 2015. Financial Industry Regulatory Authority (FINRA) Arbitration No. 18-03783 (Nov. 7, 2018).
FINRA Public Disclosure confirms that Rodriguez is referenced in three additional customer initiated investment related disputes containing accusations of his improper conduct while he was associated with UBS Financial Services. In particular, a customer filed an investment related complaint concerning Rodriguez’s conduct in which the customer requested damages estimated to exceed $5,000.00 based upon allegations that Rodriguez executed trades in the customer’s account without procuring the customer’s permission beforehand; and Rodriguez put the customer’s assets into an investment strategy involving options trading that was in no way appropriate for the customer given the customer’s investment portfolio composition.
Then, on September 8, 2015, a customer filed an investment related complaint regarding Rodriguez’s activities where the customer sought unspecified damages supported by accusations that the customer’s funds were allocated in options products which failed to conform to the customer’s investor profile; unauthorized trades had been effected in the customer’s account; and Rodriguez misappropriated or converted the customers funds. Further, a customer initiated investment related arbitration claim regarding Rodriguez’s conduct was resolved for $500,000.00 in damages founded on allegations that the customer had been inappropriately solicited by Rodriguez for outside investments; false or misleading statements were made by Rodriguez in regard to the customer’s mutual funds and options investments; and the customer’s investments had been churned by Rodriguez causing the customer losses. FINRA Arbitration No. 17-01337 (Sept. 24, 2018).
FINRA Public Disclosure additionally confirms that Rodriguez was barred from associating with any FINRA member in any capacity based upon accusations that Rodriguez declined FINRA’s request for information about Rodriguez’s activities. Case No. 2015046502101 (Oct. 10, 2017). Apparently, Rodriguez was suspended by FINRA on July 31, 2017. At that time, Rodriguez was warned that his continued refusal to respond to FINRA would result in further sanctions. FINRA determined that Rodriguez failed to respond to the regulator by a October 9, 2017 deadline. As a result, Rodriguez was automatically barred by the regulator on October 10, 2017.
