Eccleston Law: For Investors. For Advisors
About
Who We Are
Testimonials
Disclaimers
Attorneys
For Advisors
Broker Transition
Transition Negotiations
Employment Matters
State Registration Problems & Discipline
FINRA Matters
Promissory Note Matters
Team/Parnership Disputes
CFP Board Matters
FINRA Enforcement Matters
State Registration Problems & Discipline
Transition Negotiations
Broker Litigation & Arbitration
Employment Matters
Regulatory Matters
Strategic Consulting
Whistleblower Law
Promissory Note Matters
Compliance Protection
Lawyer Referral Network
Expungement of CRD/BrokerCheck Disclosures
For Investors
Securities Fraud
Breach of Fiduciary Duty
Negligent Investment Management
Unauthorized Trading
Lawyer Referral Network
News & Articles
News
Articles
Financial Counsel Blog
Videos
Newsletter Signup
Contact
Site Menu
About
Who We Are
Testimonials
Disclaimers
Attorneys
For Advisors
For Advisors: Overview
Broker Transition
Broker Transition Overview
Transition Negotiations
Employment Matters
State Registration Problems & Discipline
FINRA Matters
Promissory Note Matters
Team/Parnership Disputes
CFP Board Matters
FINRA Enforcement Matters
State Registration Problems & Discipline
Transition Negotiations
Broker Litigation & Arbitration
Employment Matters
Regulatory Matters
Strategic Consulting
Whistleblower Law
Promissory Note Matters
Compliance Protection
Lawyer Referral Network
Expungement of CRD/BrokerCheck Disclosures
For Investors
For Investors: Overview
Securities Fraud
Breach of Fiduciary Duty
Negligent Investment Management
Unauthorized Trading
Lawyer Referral Network
News & Articles
News
Articles
Financial Counsel Blog
Videos
Newsletter Signup
Contact

FINRA Bars Former UBS Adviser Nicolas J. Barrios for Refusing to Provide Documents

Posted on June 17th, 2019 at 4:28 PM
FINRA Bars Former UBS Adviser Nicolas J. Barrios for Refusing to Provide Documents

From the Desk of Jim Eccleston at Eccleston Law LLC:

The Financial Industry Regulatory Authority (“FINRA”) recently barred Nicolas J. Barrios (CRD No. 2122824) from the industry for refusing to provide documents and information requested by FINRA in connection with a fraud investigation.

According to FINRA’s BrokerCheck, Barrios had been with UBS Financial in Winter Haven, Florida for over ten years, from November 7, 2008 until May 15, 2019. UBS dismissed Barrios after allegations that “(1) he arranged for client to invest away from firm in private company; (2) he personally invested in that company without firm approval; and (3) he used personal email to communicate with client’s family in an attempt to evade Firm detection.” A FINRA inquiry followed.

The Letter of Acceptance, Waiver, and Consent (“AWC”) reveals that FINRA staff sent Barrios a letter requesting documents and information related to FINRA’s investigation “into allegations that Barrios mismanaged and committed fraud with respect to a customer’s account.” The AWC further details that Barrios, through his lawyer, acknowledged the receipt of the FINRA request but refused to produce the documents and information demanded.

FINRA Rule 8210 gives FINRA staff the right to require associated persons to “provide information orally, in writing, or electronically . . . with respect to any matter involved in the investigation, complaint, examination or proceeding.” Similarly, the rule authorizes FINRA to “inspect and copy the books, records, and accounts of such member or person with respect to any matter involved in the investigation, complaint, examination, or proceeding that is in such member’s or person’s possession, custody or control.” Importantly, FINRA Rule 8210 in absolute terms states, “No member or person shall fail to provide information or testimony or to permit an inspection and copying of books, records, or accounts pursuant to this Rule.”

The attorneys of Eccleston Law LLC represent investors and advisors nationwide in securities and employment matters. The securities lawyers at Eccleston Law also practice a variety of other areas of practice for financial investors and advisors including Securities Fraud, Compliance Protection, Breach of Fiduciary Duty, FINRA Matters, and much more. Our attorneys draw on a combined experience of nearly 65 years in delivering the highest quality legal services. If you are in need of legal services, contact us to schedule a one-on-one consultation today.

Related Attorneys: James J. Eccleston

Tags: james eccleston, eccleston law, eccleston law llc, eccleston, nicolas barrios, awc, finra, brokercheck, ubs financial, fraud investigation

Share

Return to Archive

Latest Articles
Advisor Barred for Failing To Comply with FINRA Enforcement Requests
April 9th, 2021 at 10:29 AM
Interactive Brokers and Schwab Plan to Fight $4.6 Million Arbitration Award
April 8th, 2021 at 2:30 PM
Read More »
Latest News
Affidavit of Merit Received in Eccleston Law’s $25 Million Legal Malpractice Action
April 1st, 2021 at 9:36 AM
Jim Eccleston Awarded Prestigious Recognition
February 26th, 2021 at 9:13 AM
Read More »
Share

Request a Free Consultation

Attorneys are standing by during regular business hours. Call us now for immediate service, or complete the form below and we will contact you as soon as possible.

Your E-mail Address:
 
Chicago
55 West Monroe St.
Suite 610
Chicago, Illinois 60603
(312) 332-0000
(312) 332-0003
New York City
One Liberty Plaza
165 Broadway, 23rd Floor
New York, New York 10006
(312) 332-0000
(312) 332-0003
Boca Raton
2255 Glades Road
Suite 324A
Boca Raton, Florida 33431
(312) 332-0000
(312) 332-0003
2021 © Eccleston Law, LLC.
All Rights Reserved.
The law is continuously changing. Please do not rely on information found on this site without consulting a lawyer to determine if any recent changes in the law may have an impact.