According to FINRA, Rodney Deleths Washington was barred from association with any FINRA member in all capacities for refusing to provide documents and information requested by FINRA in connection with its investigation.
Washington was found in violation of FINRA's rule requiring associated persons to cooperate with regulatory investigations. FINRA initiated an investigation into whether Washington had engaged in an undisclosed outside business and other potentially violative conduct. During the investigation, FINRA requested documents and information from Washington. However, Washington refused to provide the requested materials, obstructing FINRA's ability to investigate potential securities violations.
The obligation to cooperate with FINRA investigations is a fundamental requirement for all individuals associated with FINRA member firms. This obligation exists because self-regulatory organizations like FINRA depend on the cooperation of industry participants to effectively oversee the securities industry and protect investors. When individuals refuse to provide information or documents, they impede FINRA's ability to investigate potential misconduct, determine whether violations occurred, and take appropriate action to protect investors.
Refusal to cooperate with FINRA investigations typically results in a bar, which is permanent absent an application for reentry after a specified period. A bar prohibits an individual from associating with any FINRA member firm in any capacity, effectively ending their career in the securities industry. Investors can check whether a financial professional has been barred or has other disciplinary history by using FINRA's free BrokerCheck tool at www.finra.org/brokercheck. This case serves as a reminder that securities professionals must cooperate fully with regulatory investigations. Investors should be aware that a bar for failure to cooperate often indicates that an individual had something to hide, as those with nothing to conceal typically cooperate with investigations. The bar protects investors by removing from the industry individuals who refuse to be held accountable.
