According to FINRA, Maria P. Acevez Perez was fined $5,000 and suspended from association with any FINRA member in all capacities for six months for failing to timely respond to FINRA requests for information and documents.

The investigation related to, among other things, Acevez Perez's disclosed outside business activity. She made an initial partial production and belatedly produced additional documents but failed to make a complete production until more than five months after an extended due date, and only after FINRA followed up in writing noting deficiencies in prior responses. FINRA later sent Acevez Perez another request containing sixteen additional request items. In response, she produced information and documents responsive to only one of the requests. Subsequently, she made another production that still did not respond to the outstanding requests. Acevez Perez belatedly made a complete production approximately two and one-half months after the original extended due date.

Investors should understand that timely responses to regulatory requests are critical to FINRA's ability to investigate potential misconduct and protect investors. When registered persons delay or provide incomplete responses to FINRA's information requests, it impedes investigations and can allow misconduct to continue. The investigation here concerned Acevez Perez's outside business activities, which firms must monitor to ensure they do not conflict with representatives' obligations to customers or involve unsuitable investments.

The six-month suspension reflects that while Acevez Perez eventually provided complete responses, her repeated delays and incomplete productions significantly hindered FINRA's investigation. This case demonstrates that registered persons must treat regulatory requests with urgency and provide complete, timely responses. Delays of months beyond extended deadlines result in significant sanctions.