Ronald Broadstone, a registered representative from Columbus, Ohio, formerly with UBS Financial Services was barred from FINRA membership as a result of failing to cooperate with a FINRA investigation.
FINRA Rule 9552. Failure to Provide Information or Keep Information Current
This FINRA rule provides if a FINRA member fails to provide information or testimony requested or required by FINRA’s By-Laws or FINRA rules, or fails to keep his or her membership and supporting documents current, FINRA, after providing 21 days’ notice may suspend the FINRA membership of the person. If the suspension is not challenged within 90 days, FINRA may bar the individual.
In June, 2017 Ronald Broadstone agreed to a bar from FINRA membership for refusing to appear for an on the record interview with FINRA into allegations that he misappropriated customer funds and engaged in unauthorized trading in a customer’s account.
Ronald Broadstone’s registration and disciplinary history
In order to lawfully sell investments to the public, one must either be registered or exempt from registration.
Ronald Broadstone was registered with UBS Financial Services from February, 2007 to April, 2017.
According to FINRA’s CRD disclosure report, Ronald Broadstone has been the subject of two customer complaints and one regulatory investigation. HE was also discharged from UBS after alelgatiosn were raised that he gave inconsistent responses to a firm investigator investigating a customer complaint.
FINRA is the primary regulator for broker dealers and registered representatives in the United States. FINRA’s role is to promulgate standards and practices for the brokerage industry and to ensure compliance with its rules by licensed entities and individuals.
FINRA has two primary means to ensure compliance with the securities laws ; by means of an enforcement unit that investigates and disciplines wrongdoing, and through the establishment of an arbitration forum where investors can resolve disputes against broker dealers. FINRA’s arbitration forum, FINRA Dispute Resolution Inc. is the largest arbitration forum in the country for resolving investor disputes, and typically processes over 10,000 filings annually.
The Law Office of David Liebrader practices exclusively in the field of investment loss recovery. For the past 24 years, we have dedicated our law practice to assisting investors who have been victims of investment fraud via fraudulent and unsuitable investment transactions. During that time we have recovered money for over one thousand individuals, pension plans, trusts and companies. The recoveries we have obtained via judgments, awards and settlements on behalf of our clients exceed $40,000,000.
If you suspect that you have been the victim of investment fraud, or had a financial advisor recommend unsuitable investments to you, call us today for a free, confidential consultation at (702) 380-3131.