Finra bars former UBS broker
Ronald Broadstone charged with misappropriating client funds
A former broker with UBS in New Albany, Ohio, has agreed to a Finra letter of acceptance, waiver and consent barring him from the securities industry.
According to the Financial Industry Regulatory Authority Inc., Ronald Broadstone allegedly misused or misappropriated customer assets, engaged in unauthorized trading, and settled a customer complaint without notifying UBS. Mr. Broadstone worked at UBS from February 2007 through March 2017. Earlier, he spent 10 years with McDonald Investments and 14 years with The Ohio Co.
Finra said that on April 18, in on-the-record testimony in connection with Finra’s investigation of the case, Mr. Broadstone’s attorney advised Finra staff that his client would not answer additional questions, in violation of Finra Rule 8210.
The suspension is effective immediately.
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