According to FINRA, Ben Jen of Bedminster, New Jersey and Raymond Damien Rohne of Croton-on-Hudson, New York were each barred from association with any FINRA member in all capacities for failing to cooperate with a FINRA investigation.

FINRA was investigating an allegedly failed sale of shares in a private space exploration company. Jen was found in violation for failing to fully provide all documents and information requested by FINRA. While he produced some responsive documents, his response was incomplete.

Specifically, Jen produced many emails without attachments, including signed agreements related to securities transactions, and other emails were incomplete. He produced no electronic DocuSign envelopes despite having previously used them to sign agreements related to securities transactions. During a call with FINRA, Jen acknowledged possessing additional documents and received multiple extensions to provide them, but never completed his production.

Rohne was found in violation for failing to appear for on-the-record testimony requested by FINRA in connection with the same investigation into his potential misconduct.

Cooperation with FINRA investigations is a fundamental obligation of all registered persons and member firms. FINRA Rule 8210 requires associated persons to provide information and documents requested during investigations and to appear for testimony when requested. Failure to comply with these requests can result in a bar from the securities industry.

For investors, industry bars are significant sanctions that permanently prevent individuals from working in the securities industry. When someone is barred for failing to cooperate with an investigation, it means FINRA was unable to complete its inquiry into the underlying conduct, which may have involved harm to investors.

Investors can verify whether their broker has been barred through FINRA BrokerCheck.