According to FINRA, Matthew W. Kagan (CRD #7127797), a broker based in Los Angeles, California, was suspended from the securities industry on August 12, 2024, for failure to provide information or keep information current pursuant to FINRA Rule 9552(d).

FINRA Rule 9552(d) empowers FINRA to suspend an individual from associating with any member firm when the person fails to provide requested information or keep regulatory filings current. This suspension prohibits Kagan from conducting any securities business through a FINRA member firm. Unlike a permanent bar, a suspension under Rule 9552(d) may be lifted if the individual comes into compliance with FINRA's requirements. This action was taken in connection with FINRA Case #2023080722001.

FINRA's regulatory framework depends on the cooperation of the individuals it oversees. Information requests are an essential tool for FINRA to conduct investigations, monitor compliance, and protect investors from potential harm. When brokers fail to respond to these requests, FINRA's ability to fulfill its mission is compromised, and investors may be left without the regulatory protections they depend on.

For investors, this suspension means that Kagan is not currently permitted to work in the securities industry at any FINRA-regulated firm. Investors who had accounts managed by or transactions processed by Kagan should verify that their assets are being properly managed and that their accounts have been transitioned to another qualified professional. FINRA's free BrokerCheck tool allows investors to research the background and regulatory history of any current or former registered representative. Checking BrokerCheck regularly is one of the most effective steps investors can take to stay informed about the professionals handling their money.