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.