According to FINRA, Shaquane Smith-Thompson (CRD #7085052) of Jamaica, New York, was barred from association with any FINRA member firm on April 5, 2024, pursuant to FINRA Rule 9552(h) for failure to provide information or keep information current as required by FINRA rules (FINRA Case #2023078782701).

The permanent bar against Smith-Thompson is the final outcome of FINRA's escalating enforcement process under Rule 9552. This expedited proceeding is designed to address non-compliance with information obligations through a graduated series of consequences. Initially, the individual receives a notice specifying the deficiency and a deadline for compliance. Failure to comply results in a suspension, and continued non-compliance leads to a permanent bar from the securities industry.

Smith-Thompson's bar permanently prohibits association with any FINRA member firm in any capacity, including as a registered representative, financial adviser, principal, or in any other role. This sanction is recorded on the individual's CRD record and is publicly available through FINRA BrokerCheck, ensuring transparency for investors and future potential employers in the financial services industry.

The obligations that underlie this action are among the most basic requirements of securities industry participation. Every registered person agrees, as a condition of their registration, to cooperate with FINRA, respond to information requests, and maintain accurate and current regulatory filings. These requirements are not burdensome administrative formalities; they are essential safeguards that enable FINRA to fulfill its mission of protecting investors and ensuring market integrity.

When individuals disregard these obligations, as occurred in Smith-Thompson's case, FINRA is compelled to act decisively to maintain the credibility and effectiveness of its regulatory programs. The permanent bar serves both as a consequence for the individual's non-compliance and as a deterrent to others who might consider ignoring their regulatory obligations.

Investors should understand that a bar from the securities industry is a permanent and serious sanction. Any individual who has been barred and continues to offer securities-related services is acting outside the bounds of the law. Before working with any financial professional, investors should verify their registration status through FINRA BrokerCheck to ensure they are properly authorized and in good standing.