Carlos Antonio Rodriguez of Plano, Texas, 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 on October 10, 2017, based upon allegations that he failed to provide FINRA personnel with information about his business activities. Case No. 2015046502101 (July 5, 2017).
FINRA Public Disclosure reveals that FINRA issued Rodriguez a Notice of Suspension on July 7, 2017, and later issued Rodriguez a Suspension from Association letter on July 31, 2017. Rodriguez reportedly failed to take action to terminate his suspension by October 9, 2017, resulting in FINRA’s imposition of a permanent bar.
On October 21, 2014, a customer filed an investment related written complaint involving Rodriguez’s conduct, wherein the customer sought at least $5,000.00 in damages based upon allegations that between January 2, 2014, and October 8, 2014, Rodriguez effected unauthorized options trades in the customer’s account. Apparently, the customer’s assets were used in a speculative options trading strategy that was not suitable considering the amount of the customer’s investable assets. Moreover, the customer alleged that information was not disclosed to him concerning the risks to his principal in making certain investments.
Further, on September 8, 2015, a customer filed an investment related written complaint involving Rodriguez’s conduct, in which the customer accused Rodriguez of having stolen the customer’s funds. Then, a customer filed an investment related arbitration claim involving Rodriguez’s conduct, in which the customer alleged that between 2013 and 2016, Rodriguez churned the customer’s investment portfolio, made misrepresentations to the customer concerning mutual funds and options, and solicited securities transactions away from UBS Financial Services, Inc. FINRA Arbitration No. 17-01337 (May 30, 2017).
Rodriguez’s registration with UBS Financial Services, Inc. was terminated as of July 22, 2015.
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