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.