According to FINRA, Sebastian G. Bongiovanni (CRD #4398600), a broker based in Staten Island, New York, 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) authorizes FINRA to bar an individual from associating with any FINRA member firm when that person fails to comply with requests for information or fails to keep their regulatory filings current. A bar is the most serious sanction that can be imposed on an individual under this rule, permanently prohibiting the person from working in any capacity at a FINRA member firm. This action was taken in connection with FINRA Case #2022077443301.

The obligation to provide information to FINRA is a fundamental requirement for all registered representatives and associated persons. FINRA's ability to protect investors depends on its ability to conduct investigations and examinations, which in turn requires the cooperation of the individuals it regulates. When a broker fails to respond to information requests, it impedes FINRA's regulatory mission and may indicate that the individual is attempting to conceal misconduct or other issues that could affect investors.

For investors, this bar means that Bongiovanni can no longer work in the securities industry at any FINRA member firm. Investors who previously worked with Bongiovanni should review their account statements and transaction records for any irregularities. FINRA's BrokerCheck system is a free resource that allows investors to research the professional backgrounds of brokers and brokerage firms, including any disciplinary actions, customer complaints, and employment history. Regularly checking the backgrounds of financial professionals is an important step investors can take to protect themselves.