According to FINRA, Gianluca De Berardinis (CRD #4893776) of Greenwich, Connecticut, was barred from association with any FINRA member firm effective March 15, 2024, for failure to provide information or keep information current pursuant to FINRA Rule 9552(h).

FINRA Rule 9552(h) empowers the regulator to impose a bar on any individual who fails to provide information that has been requested as part of a regulatory inquiry. This rule exists because the integrity of FINRA's regulatory oversight depends on the cooperation of registered persons. Without the ability to compel the production of information, FINRA would be unable to investigate potential violations of securities laws and rules, and investors could be left without recourse when misconduct occurs.

The process under Rule 9552(h) is designed to be fair to the individual while still protecting the investing public. When a person fails to respond to an information request, FINRA issues a written notice identifying the deficiency and providing a deadline by which the person must comply. If the individual fails to comply within the specified time frame, a suspension is imposed. If the individual remains non-compliant, the suspension converts to a bar. The progression from notice to suspension to bar ensures that individuals have multiple opportunities to comply before the most severe sanction is imposed.

De Berardinis's bar from the industry is a significant consequence that carries lasting implications. A barred individual cannot work in any capacity at a FINRA member broker-dealer. This includes not only sales roles but also supervisory, compliance, back-office, and any other positions at a regulated firm. The bar remains in effect unless and until the individual successfully applies for relief through the FINRA eligibility process, which requires demonstrating that the applicant has been rehabilitated and that their return to the industry would not pose a risk to investors.

Investors who had dealings with Gianluca De Berardinis should take the time to review their account statements and transaction records carefully. If any unauthorized transactions, unexplained losses, or other irregularities are discovered, investors should promptly contact FINRA or consult with a qualified securities attorney. FINRA's BrokerCheck tool is an invaluable resource for checking the background of any financial professional. This matter is tracked under FINRA Case #2023079207701.