According to FINRA, Kwame Adusei (CRD #6166926) of LaGrangeville, New York, was barred from association with any FINRA member firm effective March 18, 2024, for failure to provide information or keep information current pursuant to FINRA Rule 9552(h).

FINRA Rule 9552(h) is a critical enforcement mechanism that allows FINRA to bar individuals from the securities industry when they fail to respond to requests for information. When FINRA's regulatory staff initiates an investigation or examination, registered representatives and associated persons are obligated to cooperate fully and provide requested information in a timely manner. This obligation is a fundamental condition of being registered in the securities industry. Under Rule 9552(h), if a person fails to provide information requested pursuant to FINRA rules, FINRA may issue a notice directing the person to comply. If the individual still fails to provide the requested information within the time specified, they may be automatically barred from the industry.

The bar imposed on Adusei is one of the most severe sanctions available to FINRA. A barred individual is prohibited from associating with any FINRA member firm in any capacity, meaning they cannot work as a registered representative, supervisor, or in any other role at a broker-dealer. This effectively ends the individual's career in the securities industry unless the bar is later lifted through a formal application process, which requires demonstrating that the individual is fit to return to the industry and that allowing their return would not be contrary to the public interest.

For investors, this action highlights the importance of FINRA's regulatory oversight function. The ability to request and obtain information from registered persons is essential to FINRA's mission of protecting investors and maintaining market integrity. When individuals refuse to cooperate with regulatory inquiries, it raises serious concerns about what they may be trying to conceal. Investors should be aware that they can check the disciplinary history of any broker or firm through FINRA's BrokerCheck system.

This case also demonstrates that FINRA takes non-cooperation seriously and is willing to impose the ultimate sanction of a bar to enforce compliance with its information requests. Investors who have worked with Kwame Adusei should review their account records and contact FINRA if they have any concerns about transactions or activities in their accounts. This matter is tracked under FINRA Case #2023079018901.