Bad Brokers

According to FINRA, Samuel Girgiss (CRD #6088898), a broker based in Staten Island, New York, was barred from the securities industry on August 19, 2024, for failure to provide information or keep information current pursuant to FINRA Rule 9552(h).

FINRA Rule 9552(h) authorizes FINRA to impose a ba...

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According to FINRA, Samuel Girgiss (CRD #6088898), a broker based in Staten Island, New York, was barred from the securities industry on August 19, 2024, for failure to provide information or keep information current pursuant to FINRA Rule 9552(h).

FINRA Rule 9552(h) authorizes FINRA to impose a bar on any individual who fails to provide information requested by the regulator or fails to keep required regulatory filings current. A bar is a permanent prohibition from associating with any FINRA member firm and effectively ends the individual's career in the securities industry. This action was taken in connection with FINRA Case #2018056490312.

It is notable that the underlying case number in this matter dates back to 2018, suggesting that the investigation or inquiry that prompted the information request has been ongoing for a significant period. When FINRA issues information requests, registered persons are expected to comply promptly and fully. Prolonged failure to cooperate with these requests ultimately results in the severe sanction of a bar, reflecting FINRA's commitment to maintaining regulatory oversight.

For investors, this case highlights the importance of monitoring the regulatory status of financial professionals on an ongoing basis. A broker who was in good standing when you first opened your account may later face disciplinary action. FINRA's BrokerCheck tool allows investors to check for any new developments in a broker's regulatory history at any time, free of charge. Investors who previously worked with Girgiss should review their account records and transaction history. The bar means Girgiss can no longer conduct securities business through any FINRA-regulated firm, and investors should ensure their accounts have been properly transitioned to another qualified professional.

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According to FINRA, Johnathan Ervin Grasser (CRD #6197393), a broker based in Los Lunas, New Mexico, was barred from the securities industry on August 5, 2024, for failure to provide information or keep information current pursuant to FINRA Rule 9552(h).

FINRA Rule 9552(h) gives FINRA the authority...

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According to FINRA, Johnathan Ervin Grasser (CRD #6197393), a broker based in Los Lunas, New Mexico, was barred from the securities industry on August 5, 2024, for failure to provide information or keep information current pursuant to FINRA Rule 9552(h).

FINRA Rule 9552(h) gives FINRA the authority to bar individuals from associating with any member firm when they fail to provide information or keep their regulatory filings current. This bar is a completed action and means that Grasser is permanently prohibited from working in the securities industry at any FINRA-regulated firm. This action was taken in connection with FINRA Case #2023080709401.

Registered representatives have an ongoing obligation to cooperate with FINRA's regulatory processes. This includes responding to information requests, keeping registration records current, and complying with all applicable rules and regulations. When a broker fails to meet these obligations, FINRA must act to protect investors and maintain market integrity. The bar imposed under Rule 9552(h) is designed to ensure that individuals who refuse to cooperate with regulatory oversight are removed from the industry.

For investors, this case demonstrates that FINRA takes non-compliance seriously and will impose significant consequences on individuals who fail to meet their regulatory obligations. Investors who worked with Grasser should review their account records and ensure that their investments have been properly transitioned to another qualified broker. FINRA's BrokerCheck system is an invaluable resource for checking the background and regulatory history of any current or former registered representative. Investors are encouraged to use this free tool regularly to stay informed about the professionals managing their investments.

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According to FINRA, Vanessa Oliveira Hendrickson (CRD #6997755), a broker based in Coram, New York, was barred from the securities industry on August 20, 2024, for failure to provide information or keep information current pursuant to FINRA Rule 9552(h).

FINRA Rule 9552(h) provides FINRA with the a...

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According to FINRA, Vanessa Oliveira Hendrickson (CRD #6997755), a broker based in Coram, New York, was barred from the securities industry on August 20, 2024, for failure to provide information or keep information current pursuant to FINRA Rule 9552(h).

FINRA Rule 9552(h) provides FINRA with the authority to permanently bar an individual from associating with any FINRA member firm when the individual fails to comply with information requests or fails to maintain current regulatory filings. This is a final action, and Hendrickson is no longer permitted to work in any capacity at a FINRA-regulated securities firm. This action was taken in connection with FINRA Case #2023080788301.

The obligation to cooperate with FINRA is a condition of registration in the securities industry. All registered representatives agree to abide by FINRA's rules when they become licensed, and this includes the requirement to respond to FINRA's requests for information. These requests are a critical tool that FINRA uses to investigate potential misconduct, examine firm and individual compliance, and protect the investing public. When individuals fail to comply, it compromises the entire regulatory framework.

For investors, this bar means Hendrickson has been permanently removed from the securities industry. Investors who previously worked with Hendrickson should take the time to review their account statements and transaction histories for any irregularities. If concerns arise, investors can file a complaint with FINRA or seek guidance from a qualified professional. FINRA's BrokerCheck tool remains one of the best free resources available for investors to research the backgrounds and regulatory histories of brokers and brokerage firms, and investors should make it a regular practice to check on the status of anyone managing their financial assets.

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According to FINRA, Zayed Azaji Rodriguez Regalado (CRD #6915438), a broker based in Stamford, Connecticut, was barred from the securities industry on August 13, 2024, for failure to provide information or keep information current pursuant to FINRA Rule 9552(h).

FINRA Rule 9552(h) authorizes FINRA ...

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According to FINRA, Zayed Azaji Rodriguez Regalado (CRD #6915438), a broker based in Stamford, Connecticut, was barred from the securities industry on August 13, 2024, for failure to provide information or keep information current pursuant to FINRA Rule 9552(h).

FINRA Rule 9552(h) authorizes FINRA to impose a permanent bar on individuals who fail to provide requested information or fail to keep their regulatory filings current. This bar prohibits Regalado from associating with any FINRA member firm in any capacity, effectively ending his ability to work in the regulated securities industry. This action was taken in connection with FINRA Case #2023080305501.

FINRA's information request process is essential to its mission of investor protection. When FINRA identifies potential issues or receives complaints, it relies on the cooperation of registered individuals to gather the facts necessary to make informed regulatory decisions. The failure to cooperate with these requests is treated as a serious violation because it directly undermines FINRA's oversight capabilities and may leave investors exposed to ongoing harm from undetected misconduct.

For investors, this action means that Regalado is permanently barred from the securities industry. This information is publicly available through FINRA's BrokerCheck system, which investors can use to verify the current status and background of any financial professional. Investors who previously had accounts or transactions involving Regalado should review their records carefully and ensure their assets have been properly handled. Staying informed about the regulatory status of financial professionals is one of the most important steps investors can take to protect their financial interests. FINRA's BrokerCheck tool is available at no cost and provides detailed information about brokers' employment history, licensing, regulatory actions, and customer disputes.

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According to FINRA, Jeffery Bryant Sanders (CRD #6598339), a broker based in Union, South Carolina, was barred from the securities industry on August 26, 2024, for failure to provide information or keep information current pursuant to FINRA Rule 9552(h).

FINRA Rule 9552(h) authorizes FINRA to perma...

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According to FINRA, Jeffery Bryant Sanders (CRD #6598339), a broker based in Union, South Carolina, was barred from the securities industry on August 26, 2024, for failure to provide information or keep information current pursuant to FINRA Rule 9552(h).

FINRA Rule 9552(h) authorizes FINRA to permanently bar an individual from associating with any FINRA member firm when the individual fails to respond to information requests or maintain current regulatory filings. This is one of the most severe sanctions available to FINRA and reflects the importance that the regulator places on cooperation and transparency from those it regulates. This action was taken in connection with FINRA Case #2024081360501.

Registered representatives are required to cooperate with all FINRA inquiries as a condition of their registration. This obligation continues even after a broker leaves a firm or the industry. When individuals fail to meet this obligation, FINRA must act to protect the integrity of the regulatory process and the safety of the investing public. A bar under Rule 9552(h) ensures that non-cooperative individuals cannot return to the industry to potentially harm investors.

For investors, this action serves as an important reminder about the value of FINRA's regulatory oversight. The bar means Sanders can no longer work in any capacity at a FINRA member firm. Investors who had dealings with Sanders should review their account records and reach out to their current brokerage firm if they have any questions or concerns about their accounts. FINRA's free BrokerCheck tool allows investors to look up the background and disciplinary history of any registered broker, and investors are strongly encouraged to use this resource regularly.

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According to FINRA, Iam Aguilar (CRD #7038228), a broker based in Fort Worth, Texas, was suspended from the securities industry on August 23, 2024, for failure to provide information or keep information current pursuant to FINRA Rule 9552(d).

FINRA Rule 9552(d) provides FINRA with the authority to ...

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According to FINRA, Iam Aguilar (CRD #7038228), a broker based in Fort Worth, Texas, was suspended from the securities industry on August 23, 2024, for failure to provide information or keep information current pursuant to FINRA Rule 9552(d).

FINRA Rule 9552(d) provides FINRA with the authority to suspend an individual's association with any member firm when that person fails to provide requested information or fails to keep required regulatory filings current. Unlike a bar, which is permanent, a suspension under Rule 9552(d) may be lifted if the individual comes into compliance with FINRA's requirements. However, during the suspension period, the individual is prohibited from conducting any securities business through a FINRA member firm. This action was taken in connection with FINRA Case #2023080122701.

FINRA relies on the cooperation of all registered persons to carry out its regulatory mission of protecting investors and ensuring market integrity. When brokers fail to provide requested information, FINRA's ability to investigate potential misconduct and oversee compliance is compromised. Suspensions under Rule 9552(d) are designed to compel compliance and ensure that FINRA can fulfill its oversight responsibilities.

For investors, a suspension means that Aguilar is currently prohibited from working in the securities industry. Investors who had accounts or transactions involving Aguilar should ensure their accounts have been properly reassigned to another qualified representative at their brokerage firm. Investors can verify the current status of any broker using FINRA's free BrokerCheck tool, which provides detailed information about licensing, employment history, regulatory actions, and customer complaints. Monitoring the regulatory status of financial professionals is a key step in protecting your investments.

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According to FINRA, Luke Lasseter Brooks (CRD #7400412), a broker based in Gallatin, Tennessee, was suspended from the securities industry on August 26, 2024, for failure to provide information or keep information current pursuant to FINRA Rule 9552(d).

FINRA Rule 9552(d) authorizes FINRA to suspen...

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According to FINRA, Luke Lasseter Brooks (CRD #7400412), a broker based in Gallatin, Tennessee, was suspended from the securities industry on August 26, 2024, for failure to provide information or keep information current pursuant to FINRA Rule 9552(d).

FINRA Rule 9552(d) authorizes FINRA to suspend an individual's association with any member firm when the individual fails to provide information or keep regulatory filings current. A suspension under this rule prohibits the individual from conducting any securities business through a FINRA-regulated firm for the duration of the suspension. The suspension may be lifted if the individual complies with FINRA's outstanding requests. This action was taken in connection with FINRA Case #2024081335201.

All registered representatives have a continuing obligation to respond to FINRA's information requests and maintain accurate regulatory filings. This obligation is a cornerstone of the self-regulatory framework that governs the securities industry. When individuals fail to meet this obligation, FINRA must take enforcement action to protect investors and maintain the integrity of the markets.

For investors, this suspension means that Brooks is currently not permitted to act in any capacity at a FINRA member firm. Investors who worked with Brooks should verify that their accounts have been transitioned to another qualified representative. FINRA's BrokerCheck system is a free and publicly available resource that investors can use to check the background of any current or former registered broker, including their regulatory history, employment record, and any customer disputes. Investors are encouraged to check BrokerCheck regularly to stay informed about the status of their financial professionals.

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According to FINRA, Glenn Thomas Colangelo (CRD #3182753), a broker based in Salem, Oregon, was suspended from the securities industry on August 2, 2024, for failure to provide information or keep information current pursuant to FINRA Rule 9552(d).

FINRA Rule 9552(d) provides FINRA the authority to...

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According to FINRA, Glenn Thomas Colangelo (CRD #3182753), a broker based in Salem, Oregon, was suspended from the securities industry on August 2, 2024, for failure to provide information or keep information current pursuant to FINRA Rule 9552(d).

FINRA Rule 9552(d) provides FINRA the authority to suspend an individual from associating with any member firm when the person fails to comply with information requests or fails to keep required filings current. During the suspension, Colangelo is prohibited from engaging in any securities business through a FINRA member firm. A suspension under this provision may be lifted once the individual satisfies FINRA's requirements, distinguishing it from a permanent bar. This action was taken in connection with FINRA Case #2024081908101.

The cooperation of registered representatives with FINRA's regulatory processes is vital to investor protection. FINRA's ability to detect and address misconduct depends on access to information from the individuals and firms it regulates. When brokers fail to provide requested information, it creates gaps in regulatory oversight that could leave investors vulnerable to harm. Suspensions under Rule 9552(d) serve as both a consequence for non-compliance and an incentive for individuals to fulfill their regulatory obligations.

For investors, this case highlights the importance of staying informed about the status of financial professionals who manage their money. A suspension means that Colangelo cannot currently conduct securities business, and investors with accounts linked to him should ensure their assets are being properly managed by another qualified representative. FINRA's BrokerCheck tool provides free access to the backgrounds and regulatory histories of brokers and brokerage firms. Investors should use this resource to make informed decisions and monitor ongoing developments related to their financial professionals.

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According to FINRA, Luis S. Jean-Bart (CRD #5472965), a broker based in Keyport, New Jersey, was suspended from the securities industry on August 5, 2024, for failure to provide information or keep information current pursuant to FINRA Rule 9552(d).

FINRA Rule 9552(d) authorizes FINRA to suspend an...

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According to FINRA, Luis S. Jean-Bart (CRD #5472965), a broker based in Keyport, New Jersey, was suspended from the securities industry on August 5, 2024, for failure to provide information or keep information current pursuant to FINRA Rule 9552(d).

FINRA Rule 9552(d) authorizes FINRA to suspend an individual's association with any FINRA member firm when the individual fails to provide information or keep regulatory filings current. During the suspension period, Jean-Bart is prohibited from engaging in securities activities at any FINRA-regulated firm. The suspension can potentially be lifted if Jean-Bart comes into compliance with FINRA's outstanding requirements. This action was taken in connection with FINRA Case #2023080015801.

Maintaining open lines of communication with regulators is a fundamental requirement of working in the securities industry. FINRA's information requests serve as a critical tool for identifying potential compliance issues, investigating complaints, and ensuring that brokers and firms are meeting their obligations to customers. When registered representatives fail to cooperate, FINRA must take action to protect investors and uphold the standards of the profession.

For investors, a suspension under Rule 9552(d) means that Jean-Bart is currently prohibited from working in any capacity at a FINRA member firm. Investors who previously worked with Jean-Bart should confirm that their accounts have been reassigned to a qualified representative and review their account records for any discrepancies. FINRA's BrokerCheck is a free tool that provides investors with access to detailed background information on brokers, including employment history, licensing, regulatory actions, and customer complaints. Using BrokerCheck regularly helps investors stay informed and make sound decisions about their financial professionals.

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According to FINRA, Matthew W. Kagan (CRD #7127797), a broker based in Los Angeles, California, was suspended from the securities industry on August 12, 2024, for failure to provide information or keep information current pursuant to FINRA Rule 9552(d).

FINRA Rule 9552(d) empowers FINRA to suspend ...

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According to FINRA, Matthew W. Kagan (CRD #7127797), a broker based in Los Angeles, California, was suspended from the securities industry on August 12, 2024, for failure to provide information or keep information current pursuant to FINRA Rule 9552(d).

FINRA Rule 9552(d) empowers FINRA to suspend an individual from associating with any member firm when the person fails to provide requested information or keep regulatory filings current. This suspension prohibits Kagan from conducting any securities business through a FINRA member firm. Unlike a permanent bar, a suspension under Rule 9552(d) may be lifted if the individual comes into compliance with FINRA's requirements. This action was taken in connection with FINRA Case #2023080722001.

FINRA's regulatory framework depends on the cooperation of the individuals it oversees. Information requests are an essential tool for FINRA to conduct investigations, monitor compliance, and protect investors from potential harm. When brokers fail to respond to these requests, FINRA's ability to fulfill its mission is compromised, and investors may be left without the regulatory protections they depend on.

For investors, this suspension means that Kagan is not currently permitted to work in the securities industry at any FINRA-regulated firm. Investors who had accounts managed by or transactions processed by Kagan should verify that their assets are being properly managed and that their accounts have been transitioned to another qualified professional. FINRA's free BrokerCheck tool allows investors to research the background and regulatory history of any current or former registered representative. Checking BrokerCheck regularly is one of the most effective steps investors can take to stay informed about the professionals handling their money.

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