According to FINRA, Mario L. Martinez of Miami, Florida was barred from association with any FINRA member in all capacities for failing to provide documents and information requested by FINRA during an investigation.

The investigation arose from a tip received by FINRA concerning allegations that Martinez took a loan from a client, among other things. When FINRA requested documents and information to investigate these allegations, Martinez failed to provide them.

Borrowing from customers is a serious concern in the securities industry. FINRA rules generally prohibit registered representatives from borrowing money from customers except in very limited circumstances that require firm knowledge and, in most cases, approval. These restrictions exist because borrowing arrangements create conflicts of interest and can lead to customer harm if the broker cannot repay.

When Martinez failed to cooperate with the investigation, FINRA was unable to determine the full scope of the alleged conduct or whether customers were harmed.

A bar from the securities industry is a permanent sanction that prevents an individual from working with any FINRA member firm in any capacity. Failure to cooperate with FINRA investigations typically results in a bar because cooperation is a fundamental obligation of all registered persons.

For investors who may have had a relationship with Martinez, this bar and the underlying allegations should prompt a review of your accounts. If you loaned money to Martinez or have any concerns about your account, you may wish to consult with a securities attorney about your options.

Investors can verify any broker's current status and view regulatory history through FINRA BrokerCheck.